Super Top Up Health Insurance: What are the Benefits of having a Super Top Up Health Insurance Plan?

Super Top Up Health Insurance
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Super Top-Up Health Insurance: What is it?

Why do you need a top-up on your already well-planned health insurance? What are the benefits of using a top-up on your health insurance? Well, we have all your answers for a top-up health insurance policy. For starters, many people don't know about the existence of a top-up health insurance scheme. The thing is, as the expense of other raw materials is on the rise, the medical industry is also seeing signs of inflation. The cost of medical treatment is on slowly increasing each day. It doesn't matter if it's a doctor's consultation fee or a complex operation; you are going to pay a little more than the last time. 

In addition to this, we all know how medical bills stack up and become substantial. As a result, it becomes essential for a person to buy a health insurance plan in the first place. A super top-up plan of health insurance works exactly as your primary health insurance plan. But it comes with a lower premium burden that makes it more affordable. Keep in mind it is an entirely different thing from a health insurance rider for a specific illness. 

The super top-up health insurance plan can be purchased as a standalone plan, and you can buy it in addition to your basic plan as well. This allows a medical insurance holder to use it for an individual medical claim or put it up in addition to the regular insurance plan to keep themselves away from paying the extra amount which is not covered in their basic plan. 

How does a Health Insurance Top-Up Plan Work?

Well, you can think of super top-up plans for health insurance as a spare tier, you can drive your car without it, but in truth, you know how risky it is going to be. These top-ups work as a Stepney to your health insurance policy after your medical bills have exhausted the sum insured for your limit. It will cover the cost after a certain threshold is reached by the medical bills. Let's take an example to see how that work. 

Suppose you have to undergo surgery which requires you to pay up to 8 lacs for the whole process. But your basic medical insurance policy gives you a limit of 7 lacs. Now here, with the use of super top-up health insurance, you get to increase the limit of your basic plan to 10 lacs. As a result, your medical insurance company will pay the total amount of your surgery, and you don't have to pay the remaining 1 lac that previously would have been paid from your end as your basic medical insurance plan had the limit of 7 lacs. 

A Super Top-Up Health Plan is for whom?

  • Those who are interested in obtaining health insurance coverage for members of their family
  • Individuals who do not satisfy the requirements for participation in any of the government's health insurance programs.
  • Individuals who are interested in obtaining health insurance coverage utilize a super fund.

What are the Benefits of a Super Top-Up Health Insurance Plan?

When it comes to investing your money in a super top-up plan for your health insurance, many people are not aware of the benefits they can receive from it. One of the most significant benefits is that it helps in reducing the out-of-pocket expense that you have to make when you are going through medical treatment from a hospital of your choice. Apart from this, there are five other benefits that are written which will help you understand the importance of a super top-up health insurance policy. 

Gives Your Coverage Over And Above Your Base Plan 

As we said earlier, with top-up plans, you will be getting the best of your health insurance policy. In a lot of ways, the top-ups are used as a financial backup when your base policy reaches its limit. With the top-up plan in place, you get the assurance that your policy will still cover up the expenses as there is still coverage left with the implication of top-up. This way, you will not be financially burdened during your medical treatment. 

High Coverage At An Affordable Price

Apart from taking the financial burden off your shoulders. Top-up plans also come cheap, meaning you get to avail of higher coverage amounts while still paying a very low cost. In addition to this, it is highly advantageous for those who lie in the older age group. The probability of falling ill is relatively high for the senior population, and for them having a top-up plan is a great option. 

Top-Up 

Medical inflation is on the rise each day. According to the latest statistics, medical inflation has risen by 20% this year. Compared to 8% - 9% in the past few years. When you put your money into a top-up health insurance policy, it will help you in combating those inflations effectively. The risk of medical inflation will be passed on to your insurance provider, and yours will be reduced. 

Gives You Coverage Over Pre-existing Diseases

Generally speaking, health insurance plans don't cover the cost of expenditure for pre-existing diseases. But when you add the super top-up plan with your basic health insurance plan, it will offer coverage for the same. This will provide you with a benefit in case you have a family history of specific medical issues or illnesses. 

Tax Benefits

With medical insurance, you get to enjoy significant tax benefits, and the same goes for top-up plans as well. The premium amount you pay for the top-up policy under Section 80D of the Income Tax Act, 1961 states that you get to reduce your tax liability up to the limit of 25,000 Rs. this is applicable for the insurance you have bought for yourself, your spouse, and dependent children. On the other hand, senior citizens will be able to enjoy a high limit of deduction. What this means is if you are a person above 60 years of age, you can claim a tax deduction up to Rs 50,000. 

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Highlights of Super Top-up Health Insurance Plans: deductible, cashless treatment, and others


 

  • Deductible

Before your health insurance provider begins to pay for any required medical care, you will initially be required to make a payment known as your "deductible." The insurance company will directly reduce your monthly premium to the deductible amount. On the other hand, this implies that you will have to pay for any medical costs incurred in a given year that are greater than your deductible from your funds.

  • Cashless Treatment

This feature allows patients who pay cash for their medical treatments to enjoy better service and claim expenses from their health insurance companies if they are covered under this plan. Suppose you're prepared to give up having an emergency fund and reduce expenses that may otherwise be covered by Medicare or Medicaid programs in some places in America. In that case, this can help you save quite a lot.


 

Health Insurance Super Top-up Plans' Covered Medical Expenses


 

  • The insurer will pay all of the patient's medical costs.
  • There is no maximum limit on the number of claims the user can make.
  • There are no exclusions or restrictions placed on circumstances that were already present.


 

What are Super Top-up Health Insurance Plans Excluding?


 

Some of the information you should be aware of is as follows:

  • Super Top Up Health Insurance Plans do not cover pre-existing conditions. Pre-existing conditions can include illnesses or injuries that you had had for some time before you purchased your policy or illnesses and injuries that began before you purchased the policy but have continued since then. You should always check with the insurer before purchasing a plan to be sure that your coverage includes any illnesses or disorders.
  • Super Top Up Health Insurance Plans do not cover elective surgery such as breast enlargement or liposuction, cosmetic surgery, hair removal treatments, plastic surgery to change facial features, sex reassignment surgery*, weight loss surgery*, gender reassignment hormone therapy*, tummy tucks and other cosmetic treatments such as dermabrasion.
  • Super Top Up Health Insurance Plans will also not provide coverage for anything related to these procedures, including consultations and tests performed before they take place.*
  • The only exception is if these procedures were performed due to an illness or injury caused by an accident where liability has been determined against another party who may be liable through injury claims lawsuits.

How to submit a Super Top-up Health Plan claim?

Super Top Up Health Insurance Plans are straightforward to use. You can easily file a claim by following the steps mentioned below:

  • Please get in touch with your insurance and supply them with the information they request on the claim.
  • Provide required documents as per the policy terms and conditions (for example, if you lost your wallet while traveling abroad, then you will need to provide photo proof of boarding pass)
  • Receive your claim amount

Wrapping Up

So this is what a super top-up in health insurance is all about; having a top-up has now become essential if you are still using a basic medical plan. It gives you more confidence in your health insurance policy and gives you more medical freedom that you require as you grow older. 

Check Our Other Articles on Super Top-Up Plan

https://www.indmoney.com/articles/insurance/health-insurance-super-top-up

  • Does having a top-up health insurance a good idea?

  • Who can buy health insurance?

  • What is the lowest per month cost of health insurance?

  • What policies top-up health insurance must cover?

  • Can we use Indian health insurance outside India?

  • What is Deflation?

  • What are the Causes of Deflation?

  • How does deflation affect the economy?

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