Essential features of a super supplemental health insurance policy that you need to know

NEW DELHI: Another great add-on plan can help you increase your coverage without having to opt for an expensive new policy.

A super complementary health insurance policy provides for the reimbursement of cumulative medical expenses beyond a deductible. It is generally different from a regular health policy. It covers all hospital costs only after the sum insured under the standard health insurance policy has been exhausted or if you have paid the costs, up to the deductible, out of pocket.

Characteristics of the recharge policy:

Coverage for COVID-19 treatment: A super supplemental policy covers the insured for necessary hospitalizations due to COVID-19. It also covers other serious illnesses.

One-time deductible payment: Under a super supplemental policy, the insured is only required to pay the deductible once and can make multiple claims during the life of the policy.

For example, suppose an insured is hospitalized due to a specific illness and the cost of treatment is Rs12 lakh. Here the individual has a basic health insurance plan of Rs7 lakh and a super supplemental plan of Rs10 lakh. In this case, the initial Rs7 lakh would be covered by the basic health insurance plan, and the complementary super plan would cover the remaining Rs5 lakh of the total treatment expenses.

Flexibility to choose the franchise: When purchasing a super supplemental plan, the purchaser of the policy has the option of selecting the deductible option according to the sum insured.

High sum insured: With a super complementary policy, the insured has the possibility of increasing the sum insured as needed.

Additional coverage: Considering the increase in health care costs, it is not enough to have an employer insurance policy. With a super supplemental policy, you can get coverage that you might not get under an employer’s health insurance policy, for example, critical illness, AYUSH treatment, etc.

Additional tax savings: On the premium paid for the super complementary health insurance, the insured can benefit from tax advantages under article 80D of the income tax law.

Who should choose?

The super complementary plan is strongly recommended for seniors because, in their case, the risk of being hospitalized is higher. The super supplemental plan can reduce higher premium rates due to age, said Rakesh Goyal, director, Probus Insurance. “Additionally, you can also use super supplemental plans to upgrade your group health insurance plan, as in many cases the sum insured offered by group health plans is comparatively lower and insufficient in terms of due to the rising cost of medical treatment. “.

You have to confuse a basic recharge plan and a super recharge plan because they are different when it comes to making claims. In the case of the basic supplemental plan, the deductible is normally kept equal to the sum insured under the existing regular health insurance policy. Unlike the super recharge plan, you must have a regular health policy with a basic recharge plan.

Indeed, the deductible is applied to a single hospitalization or per claim over a year, that is to say that a basic supplemental plan only intervenes if a single claim is made in addition to the deductible.

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