5 Ways To Check If Your Health Cover Is Adequate

Apart from masking up and taking adequate precautions, health insurance is something you can’t ignore in a scenario where Covid variants such as Omicron continue to affect us. If you have an existing health insurance policy, check it thoroughly to ensure that you will be covered in case of any eventuality.
Most existing health insurance policies cover even the new Covid variants. 
There are standalone Covid-19 policies also and they cover all new variants as the base of the policy—Covid-19—stays the same. Recently, the Insurance Regulatory and Development Authority of India (Irdai) also clarified that all health insurance policies will cover Omicron.
Here are some key questions to ask yourself to ensure that your health insurance policy and the sum insured is Omicron-ready. Read more details on Outlook Money’s latest coverage of health insurance.

Question 1: Should I Review My Health Insurance Plan?
Yes, because it’s important to review your health insurance plan to check for any shortcomings. To start with, review the sum assured. For a family of four members, a cover of at least Rs10 lakh is needed. Dive deeper into the policy and review the co-payment and sub-limits as the former determines the share of the hospital bill the policyholder will need to pay, and the latter determines monetary caps such as on hospital room rent. Both these play a role in the policyholder’s out-of-pocket expense.

Question 2: Should I Consider Top-Up Plans To Increase Sum Insured? 
As healthcare costs are on a constant rise, planning financial resources towards unanticipated medical expenses is imperative. Super top-up and top-up insurance plans help you do this. These plans let customers choose specific deductible amounts or limits that they will have to bear before the insurance policy starts paying out at the time of claim. You can choose the figure depending on the maximum coverage of your basic health insurance policy or the expense one may extract from one’s own income. A major difference between them is that while a top-up plan covers a single hospitalisation claim above the deductible amount during the policy period, a super top-up plan covers multiple claims above the deductible amount during the policy period depending on the sum insured.  
Question3: Should I Go For Additional Riders With The Policy?
You have the flexibility to buy riders to enhance health insurance coverage based on specific requirements. While comprehensive policies cover the treatment of Covid infections, including Omicron, health insurance companies have introduced riders that also cover consumable items such as PPE kits, gloves, masks, and other items that are generally not covered. Some of these riders may be useful during the Covid period as consumables, for example, account for 20 per cent of Covid hospitalisation bills, but many comprehensive plans do not cover them by default.
Question4: How Do I Ensure That My Children Are Covered?
If you have young children, taking a family floater health insurance plan is advisable. They are the best option for families that do not have a significant history of chronic issues. However, ensure that your floater policy is large enough to cover the entire family, including even the youngest children. For older children, you may consider a separate individual health insurance plan.
Question5: Should I Buy A Separate Policy For My Parents?
Senior citizens, especially who have co-morbidities, are especially vulnerable. A separate, comprehensive health cover is suitable for senior citizens as they need wider coverage. Senior citizens, typically, have medical conditions that require regular treatment or assistance, which may not be the case for other family members. Therefore, it is recommended that parents are covered under a separate plan specifically designed for senior citizens.
Moreover, the premiums increase with age and with higher incidence of pre-existing diseases. So, health insurance plans for senior citizens may be more expensive than for other family members.