Can Multiple Health Plans Secure Your Total Expenses of Same Claim

Multiple Health Plans are now really an unavoidable future plan for health insurance to avoid extraordinary higher bills from health care or hospitals. Now a days for any small health expenses rises so much that is a questionable factors but you have to be cautious for paying such bills on your tern if you needed.

Should You Opt. For Multiple Heath Plans ?

Yes, having more than one or two health plans could be wise decision if you consider some must do facts. Before that you should know the benefit of Multiple Heath Plans. It is obviously any body can take 2 or 3 health plans for minimize the risk of health coverage and additional expenses. It could be a back up for Employee insurance plan and also risk coverage for pre existing health hazard.

One important fact is that if you have 2 or 3 Health policies, it does not mean that you can claim twice for single claim and your sum is not exit more than your expenses. You have to follow some particular steps to claim your total expenses with more than one insurer.

Benefits Of Multiple Health Plans

More specific and widespread coverage

If you have more than 2 or multiple health plans then you can more specific for additional coverage like critical illness, maternity coverage, Covid 19 coverage or any other specific illness. If any important benefit missing in your first health plan you can include it in next health plans.

You enjoy peace of mind if you have personal health coverage, beside your employee health plan or floater plan, which more consistent even if you leave that company for any reason.

Multiple small plans support lower premium

When you invest in multiple small amount of health plan instead of big amount one plan, it cost lower than big one. You can take multiple bunch of choices for different benefit.

Suppose you want to take 30 lac coverage for your entire family. Then you can take an floater plan for 10 lac, an individual plan for critical illness specific benefit plan and another 10 lac for surgery related, pre and post hospitalization with other specific surgery related benefits added plan. If you find these all benefit in one plan that may be not possible or include additional higher premium.

But if you separate it in multiple health plan and break in part it will give you more benefit with lower premium cost.

Manage policy according to your need

You can manage in more convenient way to manage your policies. That means if you need any health emergency you can choose one policy to recover all expenses which is more suitable for that particular problem or illness. Rest policies will be remain untouched and can get bonus for no claim in a policy year.

If any cause one claim rejected you could place another and it may be accepted by other insurer. So multiple health plans secure your health insurance more effectively.

Tax savings Benefit

You can claim a tax benefit if you have health insurance policy. If you have multiple health plans it may claim further tax benefit under income tax law section 80D. It save s your money another way.

How can we claim Multiple Health Plans ?

Now the question arises that how can we repay through two health plans in single claim ? Is it possible or not ?

Yes. It is possible to repay a single claim through two policies. But the process should be followed or second claim will be rejected.

You need to pay the bill of your hospital expenses in to two way. first you need to pay the amount cashless from first policy according to it’s sum assured and rest you have to pay from your own pocket which you can claim for a reimbursement from second insurer.

Now , suppose your bill amount is 8.5 lakh in total hospital expenses. Your first insurance may be from corporate group insurance which has settled cashless claim for the amount of 5 lakh that is equal to your policy sum assured. Now rest 3.5 lakh you have to pay from your pocket first and after that you have to submit the whole papers of first claimed along with rest 3.5 lakh expenses which will be claimed for reimbursement. According to you second insurer policy agreement they will settle your claim within 30 to 45 days.

One condition you should remember when you going to buy your second policy you must disclose the previous policy sum assured to the second insurer otherwise your second claim could be not granted by them.

Can We Claim Proportionate Amount From Both Insurance ?

The answer is NO. You can not claim proportionate amount according to your hospital bill to save your pocket expenses. You need to follow the proper procedure to claim from both insurers for a single claim.

How Much Health Insurance Should I need ?

Make sure you have at least 15 to 20 lakh health insurance coverage for your family apart from your corporate health coverage. A high sum assured policy could be much expensive. In that case you can take a base policy of 5 lakh and top up policy for 15 lakh. in that way you can manage your cost minimalize. You can buy policies online also from here.