Looking At 5 Faqs On The Arogya Sanjeevani Policy
The Arogya Sanjeevani Policy is a standard health insurance plan that aims to make health insurance affordable and accessible for Indians. The Insurance and Regulatory Development Authority of India (IRDAI) has stated that all health insurance companies are to provide the Arogya Sanjeevani Policy beginning from April 2020. Since this is a relatively new policy, a thorough awareness regarding its coverage and other aspects is required. To help in this process, we look at 5 FAQs on the Arogya Sanjeevani Policy.
- What is the coverage of the Arogya Sanjeevani Policy?
The Arogya Sanjeevani Policy covers hospitalization for several health conditions and procedures. It also provides pre- and post-hospitalization coverage of up to 30 and 60 days respectively. The coverage includes expenses incurred for room rent, nursing, ICU, surgeon, anaesthesia, doctor and specialist charges, ambulance charges, diagnostics, and so on. AYUSH treatment, cataract surgery, and dental treatmentare also covered.New-age procedures such as stem cell therapy, immunotherapy, as well as Covid-19 treatment are also included under this standard health insurance policy. Do bear in mind that the coverage would be subject to certain terms and conditions that are mentioned in the policy literature.
- What are the maximum and minimum sum insured of the Arogya Sanjeevani Policy?
There is no capping on the maximum sum assured for the Arogya Sanjeevani Policy presently. Insurers have set different amounts as the maximum sum insured with leading insurers keeping the amount at around Rs 5 lakhs (which was the previous cap). The minimum sum insured is set at Rs 50,000.
As per the IRDAI, you can get a 5% increase in your sum insured for each year that you do not make a claim on the policy, subject to a maximum of 50% of the sum assured. Ensure that your policy is renewed without any breaks to avail this benefit.
- Who should ideally purchase the Arogya Sanjeevani Policy?
Since this is a standard health insurance plan, it has been designed to be more accessible for everybody. Individuals in the age range of 18-65 years are eligible to purchase this health insurance plan. You can also purchase it as a family plan and cover your spouse, parents, dependent children, and parents-in-law. The eligibility age for dependent children is 3 months to 25 years.
Ideally, those purchasing health insurance for the first time or those looking for good coverage at affordable rates should purchase the Arogya Sanjeevani Policy.
- What are the exclusions of the Arogya Sanjeevani Policy?
Some exclusions under the Arogya Sanjeevani Policy include expenses incurred for weight-control or obesity treatments, gender transition treatments, rest and rehabilitation, and so on. Maternity care, domiciliary hospitalization, and war-related injuriesare also excluded.
- Why is the Arogya Sanjeevani Policy being touted as an accessible plan for all?
Affordability is the main reason whythe Arogya Sanjeevani Policy is being considered as an accessible health insurance plan for all. Firstly, the IRDAI has mandated that the co-pay be kept to 5% only. Co-pay refers to the out-of-pocket expenses that you have to pay yourself when you raise a claim on your health insurance policy. Secondly, the IRDAI has also stated that there shall be no deductibles or riders available with this policy. Under regular health insurance policies, the above-mentioned aspects often led to several expenses incurred on the part of the policyholder. Since these get eliminated under the Arogya Sanjeevani Policy, the insured members do not pay have to make any payments except the co-pay and any amount that exceeds the sub-limits.
Though the coverage and major features of the standard health insurance plans are similar across all insurers, the premium rates and other services may differ across platforms. Ensure that you do your research when buying coverage so that you get the right plan for your needs.
Read more: Should I Increase My Health Insurance due to the Pandemic?
