What is Pre and Post-Hospitalization cover and why is it important?

Published on August 17, 2021. EST READ TIME: 3 minutes

Accidents, ailments, and other health complications usually occur when we least expect them, particularly in the case of our elders. When it comes to the treatment for our parents, most of these complications involve care before, during, and after hospitalization. This care can be in the form of investing in the necessary medicines, regularly consulting with your doctor, going for physiotherapy, getting screenings in the form of medical tests, and more. With medical expenses that are only skyrocketing at this point, these costs can eat into your savings. For this reason, is it vital that you look for pre and post-hospitalization coverage in your parents’ health insurance policy.

What is pre and post-hospitalization in health insurance?

But what is meant by pre and post-hospitalization, to begin with? Any medical costs incurred before the patient is hospitalised due to certain diseases are known as pre-hospitalization payments. It is common for health insurance policies to cover such costs for anywhere between 45–90 days before the policyholder is hospitalized. On the other hand, post-hospitalization costs refer to those medical expenses incurred by the patient or their family once the patient has been discharged from the hospital.

The average length of post-hospitalization coverage ranges anywhere between 45–90 days after the patient is discharged. However, you should carefully read your policy documents to see the tenor of the coverage mentioned. For instance, the HDFC ERGO’s Optima Secure Health Insurance offers above-average coverage with 60 days of pre-hospitalization and 180 days post-hospitalization medical expenses.

Benefits of having Pre and Post Hospitalization Cover in Your Parents Health Policy

The best health insurance for parents should cover pre and post-hospitalization medical expenses. There are many reasons to opt for this kind of extensive coverage. Some of these benefits of opting for a high coverage health insurance policy are as follows:

• ●Reduce Your Financial Burden: Your financial burden is reduced when pre and post-hospitalization expenses are included in your parents’ health insurance policy.
• ●Reduce Stress: Through both of these coverage benefits, you can focus on your recovery or the recovery of your parents without taking on the stress of finances.
• ●Be prepared for medical emergencies: You can never be too prepared for any health complications involving your parents. Unwanted medical emergencies can knock on their door at any time. Sometimes generating the finances for these emergencies can prove to be difficult. When you have pre and post-hospitalization coverage, you can be well prepared for these situations.
• ●Preserve your savings corpus: You can maintain your savings corpus without having to worry about it being drained due to excessive medical costs. By keeping your health insurance for health care costs, you can preserve this corpus for the foreseeable future.

How to select the best health insurance for parents

Being scrupulous when browsing the range of health insurance policies available on the market is essential. When looking for thebest health insurance for parents or loved ones, consider the following factors.

• Coverage: Look for a policy with broad coverage so your parents are well protected, including pre and post-hospitalization benefits. There usually is a direct correlation between the coverage you can receive and the cost of your premiums, but high coverage ensures you are getting value for your money.
• Flexibility: With the right policy, you have the option to recharge, or restore your policy when you exhaust your existing sum due to multiple claims. This flexibility only aids in being adequately prepared to tackle unexpected medical expenses that afflict older individuals.
• Easy claim settlement: Another factor to consider is the speed at which claims are settled as well as the CSR or claim settlement ratio. Any CSR above 95% is considered excellent. HDFC ERGO, for instance, has an impressive 97% claim settlement ratio.
• Hospital network: A policy offering a broad network of hospitals is much better to invest in. The bigger the network of hospitals that your policy can cover you for, the less likely you will have to travel to a faraway hospital in case of a medical emergency.

Conclusion

Health insurance for parents comes with so much variety today that it can become overwhelming knowing which policy is worth investing in. Fortunately, there are a few factors you can keep an eye out for when looking for a good policy for older individuals. Pre and post-hospitalization coverage is an essential component to look out for. They offer broad coverage that helps you and your family be prepared for all of the costs that come with medical emergencies.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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