In a fundamental sense, health is the greatest form of wealth. If your health is not in good shape, no matter how much money you have, you cannot enjoy the comforts that money can purchase. Despite this, our health has suffered in today’s frenetic and fast-paced world of money-making. Indian health insurance companies promote wellness programs to deviate from this new normal.
Why Do Health Insurance Benefits Include Wellness?
Today, a number of health insurance companies reward policyholders for maintaining a healthy lifestyle by including wellness benefits in their health policies. People are in fact rewarded for putting their health first and leading healthy lives. They advise policyholders to monitor their diet, sleep schedules, and level of fitness as a result.
In fact, to encourage exercise and healthy living, insurance firms are now required by the Insurance Regulatory and Development Authority of India (IRDAI) to include preventive health and wellness benefits in their health insurance plans. The governing body has given insurers permission to offer these wellness benefits as both standard coverage and optional/add-on coverage.
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How Do Health Insurance Wellness Benefits work?
Preventive health and wellness benefits are typically offered by health insurance companies as wellness points or reward points. The insurance provider awards the policyholder with points for maintaining a healthy lifestyle, adopting good behaviors, and staying fit.
The policyholders can use these points to get a break on things like prescription costs, office visits, and renewal premiums. Also, network hospitals and other care providers with an appointed contract may accept them in exchange for services.
For the policyholder’s reference, the insurance firms clearly outline the numerous good health markers in the policy paperwork. After the insurance period starts, they track these positive health indicators and keep tabs on the covered person using digital tools and mobile applications.
The policyholder’s success, such as reaching a predetermined milestone, determines how frequently or at least once a year the wellness points are awarded. For instance, if the insured takes a certain amount of steps each day, some insurers will give them wellness points.
Health Insurance Common Wellness Benefits
Here are a few of the wellness advantages that Indian health insurance companies most frequently provide:
Health Checkups for Prevention
As a part of their wellness benefits, several health insurance companies offer preventative health checkup facilities. Policyholders frequently undergo preventative health examinations, which enable them to monitor their health and identify any conditions or diseases at an early stage.
These checks can be obtained for free or at a reduced cost by policyholders at any of the network service providers in their network.
Exclusive offers on healthcare services
You can utilize health and wellness points to get discounts on a variety of healthcare costs, including OPD consultations or treatments, diagnostic procedures, medications, etc. These savings can be applied to the network hospitals and service providers of the insurance company. Also available are redeemable vouchers that can be used to purchase health supplements.
Personal Wellness Coach
As part of their wellness benefits, the majority of health insurance plans offer customers a private wellness coach. The coach serves as a personal mentor who encourages policyholders to adopt a healthy lifestyle and offers a tailored plan to meet specific health objectives. For instance, the coach can offer tips on how to stick to a personalized food plan or exercise routine, maintain a healthy BMI, and give up undesirable habits like smoking.
Services for Health Maintenance are Available
Also, policyholders can accumulate wellness points to receive a discount on medical maintenance services. These points can be redeemed for a discounted membership at a number of wellness facilities, including gyms, sports clubs, yoga studios, fitness centers, etc.
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Discounts on Premium Renewal
You can use health and wellness points to lower the health insurance policy’s renewal premium. If the wellness benefit is an add-on policy, you can utilize these points to get a break on the renewal price. In certain plans, policyholders can lower their premium up to a predetermined amount, but in others, they can cut it by up to 100% if they reach a certain number of point thresholds.
second opinion in medicine
As part of their health and wellness benefits, several health insurance plans now provide policyholders with access to a second medical opinion. It permits policyholders to get a second opinion from a licensed physician for any serious medical condition or catastrophic illness. The best thing is that the insurance company will cover the consultation costs, so the policyholder won’t have to.
Final Thoughts
Policyholders are encouraged to adopt a healthy lifestyle via preventive health and wellness benefits. The IRDAI has instructed health insurance companies to include various wellness benefits in their plans for this reason, among others. Therefore, be sure to review your policy agreement as well as the wellness benefits that your insurer offers. Don’t forget to develop good behaviors and rack up the most points to get the most out of them.
