Keeping in mind the health security of central government employees and pensioners, the government has taken a very important step. Nowadays, many people are worried about the skyrocketing cost of medical treatment. To remove that worry, the Central Government Health Scheme (CGHS) and New India Assurance have jointly launched “Paripoorna Mediclaim Ayush Insurance”. This new scheme will serve as a great alternative to general health insurance for government employees.
Insurance Coverage and Financial Protection
In this new health insurance scheme, central employees will get a large amount of coverage for themselves and their families. This policy will be fully effective in case of hospitalization and treatment in any part of India.
Sum Insured: Consumers can choose the sum insured starting from Rs. 10 lakhs to Rs. 20 lakhs as per their needs and capabilities. This will provide huge financial support in case of any major physical illness.
Pre and Post Hospitalization: This insurance covers not only the expenses incurred during hospitalization, but also the expenses incurred before and after hospitalization. This policy will cover all medical expenses incurred 30 days before hospitalization and 60 days after discharge.
Installment benefits and huge discounts on premium
One of the attractive features of “Full Mediclaim” is its flexibility in paying premium. Insurers can pay the premium in two installments instead of paying the entire amount at once. In addition, if you choose the ‘cost sharing’ or cost sharing model, you can get a huge discount on the premium.
Discounts on premiums received under the cost sharing model
70-30 model (the insurer will pay 30% of the cost) 28 percent discount
50-50 model (the insurer will pay 50% of the cost) 42 percent discount
In simple words, if you are willing to bear half or 30 percent of the medical expenses yourself, you can save up to half of the insurance premium. This model is very profitable for those who are usually healthy but want to have insurance for major risks.
Bonus and room rent rules
This policy of New India Assurance also has certain conditions and benefits in terms of hospital room rent and no-claim bonus:
Room rent: The insurance company will bear 1 percent of the basic sum assured as rent for a general room in the hospital and up to 2 percent in the case of ICU.
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No claim bonus: If no claim is made in any year, the insured will get a 10 percent bonus in the following year. In this way, the bonus can increase up to 100 percent of the basic sum assured as the bonus accumulates every year. That is, there is a chance to double the coverage if there is no claim.
This initiative of the central government is a big relief for employees and especially old pensioners. It will not only reduce the cost of treatment, but also ensure financial security in retirement.
The post Paripoorna Mediclaim: Central Employees Get Up to 42% Discount on ₹10–20 Lakh Cover, Know How appeared first on Times Bull.
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