What is health insurance?
Health insurance is a good wealth besides money. In a simple form, health insurance is a product which gives you a sense of security from the incurring expenses of hospital bills at the time of emergency. It covers the medical and surgical costs of an insured person. It can either be done upfront (cashless treatment) or post-treatment (reimbursement) by the insurer (the insurance company).
Health insurance has now become essential for the individual of all the age group in today’s life of ever-soaring medical expenses. Moreover, following a rise in lifestyle diseases and double-digit medical inflation in Sri Lanka every year, you must have a health insurance plan that fulfils your requirement. Though private and public-sector employers provide group health insurance, such do not offer all benefits to your family. Therefore, you always need separate health insurance that covers you and your family. Going by medical expenditures of individual health insurance is essential as uninsured people receive less medical care. Don’t let your health problems become a financial burden for your household. Buy a family health insurance to ensure you and your family be in total peace of mind. This way, you can focus on looking after the hospitalised family member rather than running around gathering funds for the treatment or more disastrously, preceding treatment altogether due to lack of funds.
Importance of taking a health insurance policy
Falling sick or getting hurt is not on anybody’s to-do list. It is always unplanned as well as uncertain. Nobody wants to get hurt or fall ill, but still, we all need medical care like doctor’s visit, prescribed drugs, lab tests, and so on at some point in time. As advanced technology has taken the place of those old ways in the health care segment, the cost of health facilities has also increased. At that point of time, a health insurance solves the purpose by providing us with the financial aids either in the form of cashless or reimbursement. In addition to the hospitalisation, health insurance also gives us the facilities like outpatient care, medication; laboratory tests cost when needed.
So, having health insurance is beneficial for one or other reasons. We all know the importance of health insurance, but the fact is that it is still considered as a tax-saving tool only and taken by people only for the sake of getting exempted from the tax slab. But the fact is that other than a tax exemption, health insurance covers essential health benefits critical to maintaining your health and treating illness, accidents and high medical costs and gives us free preventive care.
