The escalating healthcare costs have made it difficult to determine what ideal coverage you should opt for. If you go for a higher sum insured, you will end up paying unnecessarily high premiums. On the other hand, if you choose to stay underinsured to save on insurance costs, and if any medical emergency knocks on your door, you might end up depleting your savings. So, what’s the solution here? The answer is super top-up health insurance online.
Understanding Super Top-up Health Insurance
A super top-up health insurance plan kicks in when your existing coverage gets exhausted. It covers expenses beyond a certain threshold (deductible) specified in the policy. The deductible is the amount you pay out of your pocket before the super top-up policy takes effect.
When you compare a super top-up plan for buying a comprehensive policy with a higher sum insured, the former is more cost-effective.
Also, unlike regular top-up plans, which cover a single claim exceeding the threshold, super top-up plans allow multiple cumulative claims throughout the policy year. So, if you face additional medical expenses later in the year, the super top-up coverage remains available.
How does the Super Top-Up Plan Work?
Suppose you have basic health coverage with a sum insured of ₹3 lakh and a super top-up health plan of ₹5 lakh with a ₹2 lakh deductible.
One day, you fall ill and are hospitalised, and your treatment costs amount to ₹5 lakh. In this case, ₹3 lakh will be covered by your base policy, and you will need to pay the remaining ₹2 lakh. The reason is that you have not yet exceeded the deductible amount stated in the policy.
In the same year, you fall ill again, and this time, your treatment charges amount to ₹1.5 lakh. Since you have already exhausted the sum insured under your base plan, that policy will not be helpful.
However, the super top-up health insurance plan will cover the entire treatment expense because you have already paid the deductible in the first claim.
Who should you Buy a Super Top-Up Plan?
Super top-up plans are ideal for the following:
- If you have a group health cover that remains with you as long as you are part of that organisation, supplementing the coverage with a super top-up plan makes sense.
- If you are a senior citizen, the likelihood of developing age-related illnesses or worsening of any pre-existing health condition is high. Super top-up plans are recommended to ensure you do not face financial challenges because of recurrent hospitalisations.
- If you already have a long-term basic health insurance plan but believe the coverage is insufficient, you can opt for a super top-up healthcare plan.
What Does a Super Top-Up Plan Cover?
- A super top-up plan covers both pre and post-hospitalisation expenses. Usually, expenses for up to 30 days before hospitalisation are covered, while the duration is 45-60 days for post-hospitalisation expenses.
- If your condition does not require hospitalisation for at least 24 hours, daycare expenses are covered.
- You can use this plan to pay for AYUSH (i.e., Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy) treatments. However, make sure such treatment is available from recognised hospitals.
- If you are diagnosed with coronavirus, a super top-up plan can also help you cover such treatment expenses.
Things to Consider when Buying a Super Top-Up Plan
Before buying this cover, review the following conditions:
- Go through the list of network hospitals and ensure there is an empanelled hospital in your area.
- Review and compare multiple insurers’ claim settlement ratios. Choose one with a ratio of over 95%.
- Look at the policy wording available on the insurer’s website to check the list of policy exclusions and inclusions.
Conclusion
Super top-up health insurance provides additional coverage once your existing policy limit is reached. It covers medical expenses beyond a specified threshold, offering a cost-effective alternative to high-premium policies. This plan is ideal for those with either inadequate coverage or group health insurance. However, check network hospitals, claim settlement ratios, and policy details before purchasing to ensure they meet your needs.