In this fast-paced world, we have to juggle various responsibilities, be it finances, work, or relationships. In fulfilling these responsibilities, we often tend to ignore our health, which is made worse by an inactive lifestyle and unhealthy eating habits. Fortunately, health insurance assists with the treatment of health conditions. Today, health insurance plans come loaded with some wellness benefits that can help you keep a check on your health and prevent the onset of illnesses and diseases. Your health insurance covers your medical expenses while offering some common wellness benefits. Read on to know more about the common wellness benefits of health insurance.
How do wellness benefits of health insurance work?
Wellness benefits are included in health insurance policies as part of the insurer’s wellness program. Per the guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI) in September 2020, health insurance providers are obligated to provide wellness and preventive features under medical insurance policies. As such, wellness benefits in health insurance plans are aimed at promoting good health maintenance.
Wellness benefits of health insurance serve as additional perks included in your medical policy to help you stay healthy. To enjoy these perks, you must follow points by indulging in activities that can prevent you from getting sick. For instance, you must undergo annual health check-ups, take steps towards a fit lifestyle, participating in fitness classes, etc. Health insurance plans with wellness benefits also include discounts on these activities.
Common wellness benefits of health insurance
The various types of wellness benefits in health insurance are listed below:
Policy premium & renewal discounts
Health points you earn through wellness programs are redeemable against your health insurance premium. When you renew your medical plan, your insurance premium usually gets updated. Insurers renew the premium amount based on your record during the policy period. If you want to reduce the renewable premium, you can utilise your reward points earned through wellness programs to get a discounted rate.
Second medical opinion
Upon being diagnosed of a medical condition, you may want to get a second medical opinion to make the right choice for your health. Some medical insurance policies cover the costs of the second consultation. You must notify the insurer about your intention to get a second opinion and submit a specific form to avail of this benefit. This facility allows you to weigh the severity of your medical condition and take the right steps towards treatment and recovery.
A personal wellness coach
Monitoring your diet and following the right exercise regime shapes your overall well-being. While there is a wealth of information online to guide you on your wellness journey, fitness is not a ‘one size fits all’ approach. You must customise your diet and exercise routine to complement your body’s requirements. This is where a personal wellness coach can help you. As it is a part of preventive care, many insurers include the wellness coach services in their wellness program.
Discounted health examinations
Medical health check-ups, health screenings, and vaccinations are all part of preventive health care. These facilities enable you to monitor your well-being and identify conditions or diseases at an early stage. Detecting illnesses in the early stages allows to take corrective action before the illness takes a more severe form. To that end, insurers assist you by letting you get health check-ups and screenings at discounted rates. You can check this benefit by analysing the wellness program of your insurer.
Membership vouchers for fitness clubs
Health maintenance is an important aspect of wellness benefits prescribed by the IRDAI. To maintain your health in optimum condition, you may want to join fitness clubs like gyms, sports clubs, yoga studios, and other fitness centres. To help you in this journey, some health insurance providers offer membership vouchers or reward points that you can use to reduce the joining fees. Consistently being a part of any of your preferred fitness clubs can shape your health for the better.
Preventive care is indeed one of the benefits of health wellness insurance. This facility helps you take proactive steps to stay fit and healthy. However, the path to optimal health doesn’t end here. As you explore the possibilities of wellness benefits, you should also consider other perks of health insurance plans . You can easily compare the plans online on your insurers’ websites to find policies with the best coverage benefits. You can also use a health insurance calculator to compute estimated premium costs and make an informed buying decision.
FAQsDo all health insurance policies come with wellness benefits?
Not necessarily. While many modern health insurance plans do offer wellness programs and benefits, the extent and specifics may vary. You must review your policy before buying to know if it includes wellness benefits.What do insurance providers gain by offering wellness benefits?
Insurance providers offer wellness benefits to encourage healthier lifestyles among policyholders. When you, as a policyholder, take the necessary preventive measures and maintain overall wellness, you are less likely to raise medical claims, which protects the insurers’ interests.Is the discount on the premium offered with wellness programs the same as NCB?
No, it isn’t. NCB (No Claim Bonus) typically applies to all health insurance policies, where you can claim a discount on the premium for not raising claims during the policy period. Contrarily, premium discounts through wellness programs are specific to certain policies, either as a feature or an add-on benefit.Do I have to pay extra to enjoy wellness benefits with my medical insurance plan?
Whether or not you need to pay anything depends on the type of medical insurance plan you have. Some insurance plans include wellness benefits as part of their coverage, while others may charge an additional cost.Are wellness benefits available with all types of health insurance policies?
No. Wellness benefits are more commonly associated with comprehensive health insurance plans. Basic or essential coverage plans may focus more on providing primary medical services.Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.