Health Insurance in Coimbatore 

Coimbatore is the third largest city in the state and one of the most industrialized cities in Tamil Nadu. It stands second to Chennai in Tamil Nadu for highly affordable and quality healthcare deliveries of international standards.   The rapid pace of industrialization, mounting population and the increase in health awareness have led to the development of the healthcare industry in Coimbatore. The city has a multitude of hospitals. Apart from the general hospitals, several multi-facility hospitals function in the town for the betterment of the people.   The desire to own a house, a motor car, any other instrument of social status, or other consumer durables of comfort can be postponed unless the family has a shortage of savings and limited sources of income. However, medical obligations are entirely different, which demand immediate cash flows and hurt the family's life savings.    

Star Health Network Hospitals In Coimbatore 

Star Health have 154 network hospitals in the Coimbatore district. It is evaluated that out-of-pocket expenditure of over 15–20 % of overall health expenditure or 40 % of household net income of subsistence needs can result in a financial mishap, according to the World Health Organization (WHO).   

Health insurance is one of the instruments people in different countries use to finance their medical requirements. Every individual must remember the increasing medical costs and outbursts of lifestyle diseases in India. A medical emergency may happen to an individual at any time.     

Key Highlights of Health Insurance 

• Health insurance aims to tweak service utilization and protect households against loss of wealth from unforeseen expenditures. Star Health insurance is the best way to be financially prepared against uncertain health risks. Our insurance plans give people the most needed financial backup during medical emergencies.   
• Financial commitments on medical grounds can wreck the long-term financial goals of a family, like marriage of children, education and retirement plans. The solution to control the same situations and remedy this is health insurance that will assist in protecting the good health of an individual and a family without generating any possibility of financial crisis and impeding financial stability.   
• Health issues are indecisive and cannot be predicted before their occurrence, and they can affect the peace of an individual and a family. It is a product of general insurance that enfolds expenditures linked to medication and surgery of an insured, which can be an individual, family or a group of people.   
• The development of new treatments that can reinstate functioning and elongate life is pleasing. Still, the price of these interventions and partner hospitalisation can be exceedingly high for many people. Health insurance is an arrangement where an individual, family or group buys health care coverage beforehand by paying a premium fee. It can pause, defer, reduce or avoid payment linked to an insured's medical expenses.  

Why Star Health Insurance? 

Star Health insurance policies and advanced and acute medical technologies can now treat many complex, chronic, catastrophic, and severe conditions and injuries that used to be tragic or disabling. 

Star Health has different types of policies and plans for risk coverage by insurance companies. The financial products give risk coverage to individuals, families or groups. 

Individual health insurance plan 

This plan provides risk coverage to an individual during hospitalisation and other incidental expenses throughout hospitalisation subject to the sum insured.  One can buy different independent policies for each member of a family. These plans are indemnity plans and are mostly offered on a cashless basis. 

Kinds of health insurance policies 

There are fundamentally two types of health insurance policies: individual or self-plan and family floater.   

Individual policy would only allow coverage and benefits to the primary policyholder. In a family floater plan, only one plan provides coverage to your entire family, such as spouse, dependent children, parent and parents-in-law or dependent siblings.  One should choose the plan depending on factors like age, family medical history, children's age, medical history and budget.  

Individual or self-health insurance plan 

An individual health insurance policy is provided under the name of a single policyholder; hence, the sum insured coverage and the policy's benefits are exclusive to the insured and cover nobody else.   

Individuals can buy this policy to manage their health, which sequentially provides financial help in case of their own medical emergency.  

Star Comprehensive Insurance Policy is excellent healthcare protection for your family, and you can get utmost coverage at times of medical need. 

Family Floater Health Insurance Plan 

A family floater policy is one policy which strives to give sum insured coverage to an individual and also to their family members. Instead of taking a single policy for each family member, the family health insurance plan is a superior option, as it acts as an umbrella for the whole family.  In this policy, the sum assured coverage is shared by all members covered under the same plan. Yet, it is recommended to have a distinct plan for your elderly parent or parents-in-law as it will be a more convenient option.   

Likewise, suppose any member of the family has a vast medical history. In that case, buying a separate plan for them is also better than covering them in the family floater plan.  Star Health Assure Insurance Policy provides extensive coverage including self, spouse, dependent children (maximum 3), parents and parents-in-law. 

Factors To Consider Before Deciding On A Health Insurance Plan

1. Finding the Right Insurance Company 

Star Health is the most trusted and India's leading private health insurance company. Here are some essential factors that you can use in determining the right health insurance company. 

2. The Range of Plans Offered 

Examine the different types of plans that a company offers. Some companies provide an array of products to suit the varied coverage requirements. A diverse range of plans are available in Star Health; you can find the correct policy meeting your needs.     

3. The Network of Hospitals 

The network of hospitals is significant for using cashless claims. The more extensive an insurer has a network, the greater its benefits. This would allow you to locate the nearest cashless hospital with ease. We have over 14,000 Network Hospitals across India. The cashless facility is present in the network hospitals of Star Health.  

4. Claim Settlement Ratio 

The claim settlement ratio points to one thing – what percentage of claims did the company settle in a financial year? A higher ratio denotes that the company is committed to settling its claims. According to IRDAI, the Star Health Claim Settlement Ratio is 99.06.   

5. Claim-Based Loading 

Few companies are prone to increase the renewal premium if you made claims in the previous period. This translates to higher premium expenses. It is best to avoid companies that follow this practice.  

6. Premium Rate

Pricing policy is how much premium the company charges from its customers. You can scrutinize the pricing policy by comparing analogous plans across different companies. Star Health has Affordable premium rates in the insurance industry.   

7. Ease of Claim Settlement 

With the progress of technology, insurance companies have transformed their claim process and made it straightforward and effortless.   

In Star Health, you can get the cashless claim settled, or if there is no option of getting treatment in a network hospital, you can get reimbursement claim settlement.  

Such facilities accelerate the claim process and make it smooth. Thus, search for insurance companies that provide such facilities for swift claim settlements. 

Finding the right plan 

Coverage benefits 

• The prime thing you need to look for is the coverage benefits provided by different plans. While many plans offer the primary coverage benefits, look for plans that have distinctive features.  
• First, evaluate your coverage requirements and then search for plans that offer those features. For example, if you plan to have a child shortly, search for schemes offering maternity coverage.   
• Second, scan for other extra features that may increase the scope of coverage. For example, a high no-claim bonus, sum-insured restoration, value-added benefits, annual health check-ups, etc., are some key features to look for.  
• Choose a plan which has the most inclusive scope of coverage. This would reduce out-of-pocket expenses during claims and give you greater financial security.  
• Star Health Insurance Policies will cover all 24-hour in-patient hospitalisations due to illness, accidents and daycare treatments/procedures. All linked pre-hospitalization and post-hospitalisation expenses are payable up to the specified days quoted in the policy clause.   

Customization option

Search for plans that permit you to customize the coverage features per your needs. This is attainable by add-ons that health insurance plans offer. Star Health Insurance plans to provide more flexible benefits add-ons that can assist you in opting for extra coverage features as per your requirements and make customization possible.    

Premium Amount 

Compare the premium across other insurance companies' plans with similar coverage benefits. See if the premium is competitive or inflated, given the coverage.  Choose a plan with the most competitive premium rate for the same coverage benefits, even if it means selecting another insurance company.   

Sub-Limits 

Health plans have sub-limits on various expenses, for instance, room rent, ICU room rent, domiciliary treatments, etc. These sub-limits can restrict the scope of coverage and can result in out-of-pocket expenses. Likewise, choose a policy that has no sub-limits so that you can enjoy the maximum possible coverage.   

Co-Payment Clause 

Health insurance plans might have co-payment clauses for various reasons. Co-payments mean that you are supposed to pay the specified part of the claim from your pockets in every instance of a claim. For example, a co-payment of 10% indicates 10% of every claim would be borne by you.   Standard co-payment clauses are applicable in the following instances:  

• If the insured is aged 61 years and above when buying the policy. If you purchase the policy in a city from a lower Tier and avail of treatments in a city in a higher tier. In the case of defined illnesses and or treatments  
• Search for health insurance plans that do not have a co-payment clause. Even if the clause is inevitable, as in the case of senior citizen plans, choose plans with a lower co-payment rate.   

Waiting Period 

The waiting period is when the health insurance policy does not permit specific coverage. After the waiting period is over, coverage is allowed.  

Health insurance plans enforce waiting periods in different instances.   

These include the following:  

• First 30 or 60-day waiting period for the coverage of illnesses. This is also called the cooling-off period, during which illnesses are not covered. Accidental injuries are covered from day 1.  
• Waiting period for particular illnesses or treatments like hernia, tonsillectomy, cataract, fissures, hydrocele, joint replacement, etc. This waiting period is generally 24 months. In specific plans, the tenure might vary.  
• The pre-existing waiting period ranges from 12 months to 48 months. This waiting period is for illnesses or medical conditions you might have when buying a new policy. Complications arising out of existing conditions are not covered during this period.  
• The maternity waiting period might range from 9 months to 48 months.  
• Waiting period for the coverage of OPD expenses, bariatric treatments, etc.  
• Waiting periods are inevitable. However, you can find a plan where the period is low. This is especially relevant if you are looking for maternity coverage or have pre-existing conditions and want coverage for them at the earliest.