Health Insurance and Modern Treatments

Science fiction has discussed how robots can change medicine and healthcare for decades. Remember Baymax from Big Hero 6, the inflatable robot serving as a medical assistant? The movie talks about measuring health parameters from the comfort of your home.

While we still haven't developed Baymax, maybe in a decade or two, we will have something similar. The future of healthcare is shaping up right in front of us with 3D printing, robotics, and electronic health devices as modern treatments.

However, not everyone can afford access to high-end technology and robotic surgeries. As fancy and amazing as these advanced and modern treatments sound, unfortunately, they are not accessible to everyone.

IRDAI has recognized the need to make the latest advancements in medical treatments accessible by adding modern treatments to health insurance plans.

In this article, we explore what modern treatments are in health insurance, their benefits, and things to consider when availing of them.

What Are Modern Treatments?

Modern treatments are procedures wherein high-end technology is used to cure illnesses. Common modern treatment examples are:

• 3D Printing in Prosthetics
• Robot-assisted surgery
• AI used in risk assessment, patient prognosis estimation for cancer patients
• Smartwatches and health measurement devices
• Sleep assessment rings

Modern treatments apply advanced technologies and methods to treat patients. Advanced equipment and the latest technologies are deployed, which are usually expensive without a comprehensive health insurance cover.

List of Modern Treatments in Health Insurance

As per IRDAI, all health insurance companies offer the following modern treatments:

• Robotic Surgeries
• Balloon Sinuplasty
• Deep Brain Stimulation
• Bronchial Thermoplasty
• Stem Cell Therapy
• IONM (Intraoperative Neuro Monitoring)
• Stereotactic Radiosurgeries
• Oral Chemotherapy
• Intravitreal Injections
• Vaporization of the Prostate
• Uterine Artery Embolization and High-Intensity Focused Ultrasound

The above modern treatments list mentions all treatments that are covered up to a specified sub-limit as per different health insurance plans.

Benefits of Modern Treatments

If you are investing in a health insurance plan with modern treatments, there are various benefits you are entitled to, which include:

• Peace of Mind: When you invest in a health insurance plan that covers modern treatments, you are promised access to the best and latest healthcare advancements. This broadens the scope of curing critical ailments like cancer, heart problems, etc., offering the insured individual a sense of peace and confidence to recover.
• Hospitalisation Coverage: Modern treatments in health insurance come with hospitalisation cover. If you are required to undergo any advanced medical procedure, the insured individual is covered for hospitalisation expenses as well.
• No Waiting Period: Apart from the initial waiting period of 30 days for most health insurance plans, modern treatments do not require a separate waiting period. However, if you have a pre-existing condition that requires modern treatment, waiting periods may vary as per the plan opted.
• Modern Treatments Affordability: The main aim of including modern treatments in health insurance is to make them affordable. Investing in a health insurance plan that offers modern treatments ensures you get the best treatment facilities at affordable premiums.
• Wide Portfolio Of Treatments: Many health insurance plans offer a wide array of modern treatments, ensuring the best possible cure for various illnesses.

Things To Consider When Availing Of Modern Treatment In Health Insurance

When opting for a health insurance plan with modern treatments, consider the following tips:

• Go through the policy wording properly before opting for a health insurance plan. Pick only those modern treatments that you anticipate needing in the future. This not only provides you with the best possible treatment for major illnesses but also helps limit your health insurance premium costs.
• Ensure you are well-versed with the sub-limits for modern treatment procedures mentioned in the health insurance plan you opt for.
• Compare health insurance plans to ensure you choose the best modern treatments suitable for your needs and requirements.
• Understand the terms and conditions of health insurance plans with modern treatments like co-payments, waiting periods, room rent limits, etc.

Health Insurance Plans With Modern Treatments

Wrapping It Up

Looking for health insurance plans for a specific modern treatment only makes sense if you are sure you will utilize it. Most health insurance plans cover modern and advanced treatments up to specified sub-limits.

However, there are certain factors you must consider before purchasing health insurance with modern treatments, like comparing the sum insured, looking at waiting periods, and understanding how many modern treatments are covered, etc.

To know more about individual, family, senior citizen, and group health insurance, schedule your appointment with PolicyX advisors today!