Religare Health Insurance is an Indian private health insurance company based in July 2021, the company is headquartered in Gurgaon, Haryana, and operates from146 offices across India having 6000+ employees. The company has exclusive coverage in more than 200 countries, which include all major economic entities of India. It caters to all segments of the market, which includes life, accident, wellness, and home indemnity insurance. A great advantage of the company's plans is that all these plans have 12 benefit categories, this makes the plan more flexible and customized for every individual.
Another great benefit of the insurance plan is that the plan provides great flexibility to the policyholder to choose the type of physicians to visit on a regular basis or not. There are plans that are good for individuals who visit doctors on a less regular basis as they don't require much coverage. However, there are also ones for individuals who visit hospitals frequently for their medical expenses. If you belong to the second category of people, you can select the network hospitals and save lots of money by paying only the regular monthly premiums instead of paying a lump sum amount for your medical expenses. The premium of the plan remains the same for each individual irrespective of the number of visits to the doctors within a fixed time period.
The plan provides great relief to the members who experience frequent hospitalization due to acute illnesses. Under the cover of this plan, one need not pay any extra amount to have better medical care. If you have undergone acute illness then you may have to face some additional costs due to your hospitalization like additional medicines cost, consultation charges, etc. Under the cover of the health care insurance plan, the member will be reimbursed through the claims made by him to the insurer for the amount he spent for the treatment.
There are certain factors that one needs to consider while looking for a good quality plan for them. This includes the claim settlement ratio of the insurer. The claim settlement ratio is the percentage of the claim made by the insurer against the total medical expenses made by the insured party for a specific hospitalization. You must ensure that the insurer has a high claim settlement ratio so that you don't need to pay a high amount of money to the hospital for your medical expenses.
The next factor is the claim payout ratio of the insurer. The claim payout ratio is the amount recovered by the insurer from the incurred claims by the insured party for a specific amount. You can determine the amount recovered by calculating the actual claim number, recovery fee amount, etc. Your insurance company should have an excellent claim settlement ratio if it recovers more than 70% of the incurred claims from its policyholders in a year. If it's less than this, then you can opt for other cheaper insurance companies.
You must be aware of the service provided by the hospitals of your selected network. Some network hospitals might not have the required level of standard of services required for your claim. So it is better to verify this point with the hospital. You should also check whether your family members will get the treatment required by them in the hospital of your choice. If yes, then you should not worry about the quality of the treatment but can file a claim for your related expenses from the insurer's side.
It's very important to know the level of services provided by the hospitals in your selected network. You should not be very disappointed by the level of standard of service as different hospitals might have different standards of providing medical facilities and their own way of claiming your compensation. You can find a list of the best network hospitals from the website of your religious organization. You can also check out the claim settlement ratio of the company from the website. The higher the percentage of claim settled, the better quality of services provided by your health care insurance company.
You must consider the terms and conditions of your insurance policy before you file a claim. Be sure about the inclusion of emergency healthcare coverage as an additional benefit in your insurance policy as most of the health insurance companies do not provide this benefit. If you are able to avoid any type of emergency healthcare coverage, you will save a lot of money that you would have paid to the insurance company in the future. So be careful while comparing different health insurance policies of your choosing.
