Why Health Insurance with OPD Coverage is Gaining Popularity in India!

Life can be scary without knowing what will happen next. The global coronavirus pandemic showed us how vulnerable we are to life-threatening environmental elements, and thinking about a medical emergency affecting your loved ones can be unsettling. It also underscored the importance of health insurance in India, making acknowledging its importance crucial.

Life insurance with OPD coverage can be an added benefit. More people are now opting for health insurance that includes additional Outpatient Department (OPD) coverage. This feature has become much more popular in recent years. According to Policybazaar, the percentage of customers choosing plans with OPD coverage has quadrupled to 20% in the last three years.

Why are more people choosing health insurance with OPD coverage?

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The main reason for the growing popularity of these plans is the increasing demand for comprehensive coverage that goes beyond just inpatient services. In fact, 80% of customers say that access to doctor consultations and diagnostic tests is a key factor in choosing to opt for OPD benefits in their insurance plans.

How relevant is OPD coverage?

According to Policybazaar, millennials comprise a significant portion of health insurance holders seeking OPD coverage as a built-in feature or add-on. Of those who chose plans with OPD benefits, 50% have actively used these services.

Benefits of Having an OPD Cover in Insurance:

In India, outpatient department (OPD) costs can make up to 62% of the total medical bill on average. Having OPD coverage can significantly reduce this financial stress. Here are some key benefits of health insurance with OPD coverage:

  • It allows for reimbursement of OPD expenses within 90 days of payment.
  • The sum assured is based on the policyholder’s age.
  • Claims under OPD insurance are determined by the sum assured.
  • Individuals with high pharmacy bills benefit from OPD coverage, which includes these expenses.
  • These plans allow for multiple medical reimbursement claims throughout the policy term.
  • They offer additional tax benefits on the premiums paid.
  • OPD coverage also helps cover pre- and post-hospitalization expenses, which can sometimes exceed the cost of hospitalization itself.

As we all know, healthcare costs are skyrocketing these days. That’s why having health insurance with OPD coverage ensures that a simple doctor visit doesn’t drain your finances. So, what are you waiting for? Choose a suitable health insurance plan or group health insurance that covers your OPD needs and other medical expenses.

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