What to do when your health insurance coverage falls short?

financialexpress.com:

Health insurance serves as a vital safety net, offering financial protection against the ever-present risks of illness and injury. In India, where healthcare costs continue to rise, having adequate health insurance coverage is crucial for safeguarding one’s well-being and financial stability. However, what happens when your existing health insurance policy fails to cover the specific illness or medical condition you may require coverage for?

It essential to make sure that your policy safeguards your health concerns and at the same time protects you from uncertain medical expenses that you are unable to manage when the situation comes. Your policy should give you a peace of mind. That is why, let’s delve into the intricacies of health insurance and explore strategies to address coverage gaps.

Health insurance is a contractual agreement between an individual and an insurance provider, wherein the insurer agrees to cover a portion of the insured’s medical expenses in exchange for a premium. The primary objective of health insurance is to mitigate the financial burden associated with healthcare services, including hospitalization, surgery, medication, diagnostic tests, and other related expenses.

By pooling risks and resources, health insurance enables you to access quality healthcare without facing exorbitant out-of-pocket costs, thus promoting timely medical intervention and improved health outcomes.

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Adhil Shetty, CEO, Bankbazaar.com, says, “It is important to understand that coverage of your health insurance policy. You must scrutinise the policy’s coverage comprehensively, ensuring it covers essential medical