Osteoporosis is a condition that weakens bone density, increasing the risk of fractures and injuries. Though it can happen at any age, elderly people, particularly postmenopausal women, are at greatest risk. Treatment for osteoporosis usually includes frequent medical consultations, regular diagnostic tests, medication, and, at times, even surgical procedures. Such healthcare needs contribute to increasing medical expenses over a long period. When combined with a mediclaim policy, it ensures cashless treatment during emergencies and reimburses expenses for bone scans, specialist consultations, and long-term therapy
This is where health insurance comes in. By choosing the right health insurance plan, individuals can reduce the financial strain of managing osteoporosis and gain peace of mind knowing they are prepared.
Read on!
Why Should You Consider Health Insurance for Osteoporosis Treatments?
Here is why opting for health insurance coverage for osteoporosis is a smart decision:
1. Covers Hospitalization Costs
If a person is hospitalized for over 24 hours because of osteoporosis complications, their health insurance will pay for room rent, medication, doctor charges, and nursing fees. It also covers pre- and post-hospitalization expenses associated with the treatment.
2. Support for Day Care Treatments
Advances in medical treatment result in the ability to perform some procedures without an overnight hospital stay. Such treatments are typically covered by health insurance plans for family, and they may include injections, bone density scans, or other short-term osteoporosis-related procedures.
3. Routine Health Check-Ups
Free yearly health check-ups are usually part of health insurance, which is essential for the early identification of bone density loss as well as tracking the advancement of the condition.
4. Cashless Facility at Network Hospitals
If an insured patient receives treatment at a network hospital, the insurer will directly settle the bills, sparing the hassle of arranging funds upfront. However, if treated outside the network, reimbursement options are usually available.
5. Ambulance Expenses
In cases of falls or severe bone pain requiring emergency hospital visits, health insurance typically covers ambulance transportation fees, reducing out-of-pocket expenses.
6. No-Claim Bonus (NCB)
Several insurers offer a cumulative bonus if you have not made any claims during a policy year. This means your coverage amount increases without an increase in premium, providing added protection year after year.
7. Wellness Incentives
Many insurance providers now reward policyholders for maintaining a healthy lifestyle. You can earn wellness points by participating in fitness activities or attending regular health assessments, which can be used for discounts on premium payments during renewal.
8. Tax Savings
Under Section 80D of the Income Tax Act, policyholders can claim deductions on the premiums paid for their health insurance, including plans that cover treatments like osteoporosis. This also includes expenses related to preventive health screenings for oneself and immediate family members.
How to Choose Insurance for Osteoporosis Treatments?
The following are some important points you need to consider before purchasing a health insurance policy that caters to osteoporosis treatments:
1. Adequate Sum Insured
The sum insured is the maximum amount your insurer will cover during a policy year. Since osteoporosis may involve regular diagnostic tests, medications, and potential surgeries, it is wise to opt for a higher sum insured, especially if you reside in a city with high healthcare costs.
2. Waiting Period for Pre-existing Conditions
This is the time during which you cannot raise a claim for treatment related to certain health conditions. Look for a policy with the shortest waiting period possible, especially if you already have symptoms of osteoporosis.
3. Coverage for Pre- and Post-Hospitalization
Treating osteoporosis can involve multiple consultations and tests before and after hospital admission. Ensure that your policy covers both pre- and post-hospitalization expenses such as diagnostic scans, physiotherapy, and follow-up consultations.
4. Co-payment Requirements
Some policies come with a co-payment clause where you bear a portion of the hospital bill. While this may reduce the premium cost, ensure you are financially prepared to manage your share of the expenses if needed.
5. Daycare Procedure Coverage
Although osteoporosis often does not require hospitalization, there may be cases where short procedures like joint injections or bone density scans are required. Ensure that your policy includes sufficient coverage for daycare treatments.
6. Specific Disease and Treatment Coverage
Check whether osteoporosis and its complications (like fractures or spinal issues) are covered under your plan. Some insurers have sub-limits or waiting periods for certain treatments, such as joint replacement or physiotherapy.
7. Room Rent Limitations
If you need hospitalization, your choice of room could affect how much of the bill is covered. Look for a policy with no room rent capping to avoid paying extra out-of-pocket for upgraded facilities.
8. Understand Exclusions
Always review what your policy does not cover. Common exclusions can include elective surgeries, cosmetic treatments, or conditions arising from self-harm. Awareness of exclusions helps avoid claim denials.
9. Optional Add-ons
You may want to enhance your policy with riders, such as physiotherapy benefits, hospital cash allowance, or global cover, especially if you are managing multiple health issues along with osteoporosis.
10. Claim Settlement Ratio
It is important to choose an insurer with a high claim settlement ratio and efficient customer service. During emergencies, a swift settlement process can make a significant difference.
11. Reputation of the Insurance Provider
Lastly, do a background check on the insurer’s track record. Read customer reviews, compare benefits, and choose a provider known for reliability and good post-sales support.
Investing in health insurance for osteoporosis treatments empowers you to manage your condition with confidence. By choosing a plan that offers comprehensive coverage, from hospitalization to wellness benefits, you protect both your health and finances.
Moreover, always go through the insurance provider’s terms and conditions so that you can make an informed choice that ensures peace of mind.
If you are looking for a health insurance plan that checks all the boxes, browse the ones at Star Health. You get comprehensive coverage, cashless treatment in 14,000+ network hospitals, telemedicine services, and more.