What is a Flexi Health Insurance Plan?
A Flexi health insurance plan is an indemnity-based health insurance policy that offers greater control and flexibility compared to traditional health insurance plans. Unlike traditional plans with pre-defined benefits, flexi health care plans allow you to customize various aspects of your coverage, including:
- Sum Insured
- Premium
- Hospital Network
- Coverage Options
Advantages of Opting for Flexi Health Insurance Plans
Here's why opting for a flexi health insurance plan can be a wise decision:
- Customization: The biggest advantage of flexi health plans is the flexibility they offer. You can customize various aspects of the plan to suit your specific needs and budget. This allows you to get the coverage you need without paying for unnecessary benefits.
- Cost-Effectiveness: By customizing your sum insured and coverage options, you can ensure you're not paying for benefits you may never use. This makes flexi health plans a cost-effective option, especially for young and healthy individuals.
- Wider Hospital Network Choice: Unlike some traditional plans that restrict you to a specific hospital network, flexi health care plans offer the freedom to choose from a wider network of hospitals, both public and private. This allows you to select a hospital based on factors like location, doctor expertise, and facilities available.
- Comprehensive Coverage: While offering customization, flexi health plans still provide comprehensive coverage for various medical expenses, including hospitalization, pre and post-hospitalization care, daycare procedures, alternative therapies like AYUSH, and ambulance services. This ensures you're financially protected in case of a medical emergency.
- Renewal Benefits: Some flexi health plans, like Chola MS's Flexi Health plan, offer renewal benefits such as cumulative bonus and sum insured restoration for unrelated claims. This incentivizes staying insured and rewards claim-free years.
What is Covered and Not Covered Under a Flexi Health Insurance Plan?
While flexi health plans offer a wide range of coverage options, it's important to understand what is and is not covered under the plan. Typically, a Chola MS Flexi Health Plan covers:
- Hospitalization expenses: This includes room rent, surgeon fees, anesthesia charges, medications, nursing care, and other hospital-related expenses incurred during hospitalization.
- Pre and post-hospitalization expenses: Expenses related to diagnostic tests, consultations, and medications incurred before and after hospitalization for a covered illness are also covered, typically within specified limits.
- Daycare procedures: Chola MS Flexi covers certain daycare procedures that don't require hospitalization for more than 24 hours.
- AYUSH treatments: The plan covers expenses incurred for traditional Indian medicine treatments under the AYUSH system, up to a certain limit.
- Ambulance services: Emergency ambulance services incurred during hospitalization or for transporting the insured to the nearest medical facility are typically covered.
- Other benefits: Some flexi plans may offer additional benefits like newborn baby cover, domiciliary hospitalization (hospitalization at home under specific conditions), and organ donor expenses.
It's important to note that flexi health plans typically exclude coverage for:
- Pre-existing conditions: Expenses related to pre-existing medical conditions are generally not covered unless a waiting period is fulfilled.
- Self-inflicted injuries or suicide attempts: The plan will not cover expenses arising from self-inflicted injuries or self-harm including suicide attempts.
We at Chola MS Health Insurance hope that through this blog, you’ve understood all the ways in which Flexi Health Insurance plans deliver benefits. Research based on your needs and make an informed choice for the protection of yourself and your loved ones.