Types of Health Insurance Plans In India
There are several types of health insurance plans in India. These plans are classified depending upon the covers provided, minimum and maximum entry age and the situations under which the plan provides health cover. Some plans provide cover to the individuals, some cover family of the policy holder whereas, some plans are group plans which cover more than 20 to 50 persons under a single plan. Group plans are typically employer- employee and non-employer- employee plans. Individual health insurance or Mediclaim policy is the most common type of health insurance plans in India. It covers only the individual policy holder.
Depending on the coverage provided, there are various types of health insurance plans, such as Individual or group health insurance, Senior Citizen Plans, family floater plan, accidental insurance, Critical Illness Insurance, surgical insurance etc. Apart from this, some insurance firms also provide special plans for HIV positive and diabetic patients, for couples etc. Group health insurance is a great benefit offered commonly by an employer. The policies of all the employees are similar in nature but can be customized based on different aspects such as designation of employee, etc. Another benefit of this type insurance is that the benefits are tax free if the premium cost is borne by a single insurer. This type of policies provide double advantage for the employers as they can provide health cover to the employees as well as save tax on the premiums paid under the policy. Group plans are also available for groups other than employer-employee group, but on slightly different terms.