Health Insurance for Freelancers

Introduction

Health insurance is a pivotal necessity for any individual, be it kids, students, working professionals, or senior citizens. However, there is a lack of awareness regarding health insurance for freelancers amongst us.

As times are changing rapidly, and we are constantly seeing various health concerns, freelancers also need to understand the importance of having health insurance and the benefits that it brings.

In this article, we will study health insurance policies that are specifically designed for freelancers. So, consider reading the blog till the end.

What is Health Insurance for Freelancers?

Health insurance for freelancers is just as crucial as health insurance for any other regular employee. Health and illness often do not come with any biases, and in such scenarios, having health insurance helps you to reimburse a significant amount of your medical expenses.

When you own health insurance, you can easily avail cashless treatment in a hospital nearby. Having health insurance coverage also brings you peace of mind, as you do not have to worry about your medical expenses and coverage.

Why Should You Buy a Health Insurance for Freelancers?

Well, having a perfectly planned health insurance comes in rescue at the time of illness. But alongside there are various reasons to have health insurance as a freelancer.

1. Protection against medical expenses: A very important benefit of having health insurance for freelancers is that it brings financial protection against the extreme expenses of medical treatment. Without active medical insurance, the sudden coverage of medical bills can cause a significant dent in your savings. Or, at worst, sometimes people have to take credit and drown in large debts. This can be a very tragic situation for any freelancer. When you plan and consider good health insurance as a freelancer, you do not have to compromise on your financial stability.
2. Access to adequate healthcare: Your health insurance offers you adequate healthcare services through its network of tie-up hospitals. This aids in helping you get quality healthcare. With the help of health insurance, one can also enjoy cashless services, which means you do not have to risk depleting your savings. Moreover, it enables you to choose the best healthcare institutions and doctors with great expertise.
3. Tax benefits: Spending on the premium of your health insurance every month or annually, provides you with eligibility for tax benefits under Section 80D of the Income Tax Act scheme. Moreover, freelancers can claim insurance not only for themselves but also for their spouses, children, and parents.
4. A good substitute for corporate health insurance: At times, full-time employees mostly enjoy the benefits that come along with their corporate health insurance coverage. However, there is no such option of healthcare for freelancers. However, always choosing to buy one is an ideal option and can be cost-effective in the coming years.

Having a separate health insurance plan apart from a company or corporate coverage also helps you extend your coverage at the time of need. Corporate plans will often conclude when you end your professional connection with the company.

What is Included and Excluded in Health Insurance for Freelancers?

Health insurance offers complete comprehensive medical coverage, which typically includes:

• Hospitalisation
• Doctor’s visits
• Surgeries
• Diagnostics, and more.

However, certain things are excluded from the overall health insurance for freelancers, as mentioned below:

• Dental treatment
• Infertility treatment
• Plastic or cosmetic surgery
• Unproven treatment
• Treatment for intentional self-injury
• Treatment for injuries or illnesses resulting from intoxicants, such as alcohol and drugs
• OPD treatment

Also, this exclusion list might vary from one institution to another.

How to Claim Health Insurance for Freelancers?

When claiming your health insurance, you can do it either through a cashless facility or by paying upfront and getting it reimbursed later. Let us check these out in detail below:

1. Cashless Claims: Under the cashless claim procedure, the company will settle down all the medical bills with the tie-up hospital directly. To benefit from this, the freelancer should only get the treatment done from the list of network hospitals that your insurer has included in your policy documents.
2. Reimbursement Claims: The other type of claim, is simply a reimbursement. This is availed when you are required to pay for your treatment. These can sometimes be hospitals outside the networked list. The expenses incurred till the time of discharge will be then reimbursed by the respective Insurance company. Reimbursement claims work in both network and non-network healthcare institutions.

Here are a few quick tips to note before claiming health insurance:

• If the form is not completed properly, previously requested permits may be denied without a fee.
• Be sure to notify the insurance company of your hospitalisation as soon as you are admitted.
• All refunds must be submitted within 30 days of the discharge date.
• Carefully go through the exclusions, sub-limits, and other terms in your policy to find out exactly what you are covered for.
• All unpaid claims must be paid by yourself.
• In order to claim patient expenses, you must provide all relevant documentation within the period specified by the insurer.

Why Choose Royal Sundaram for Health Insurance for Freelancers?

Royal Sundaram health insurance has indeed stood out to be the best health insurance for freelancers. Here are the reasons why you need to choose Royal Sundaram for your ultimate health goals and insurance coverage:

It benefits you in many ways and helps you cover the expenses for:

• Financial security
• Long term savings
• Tax benefits
• Easy hospitalisation
• Outpatient services
• Emergency services
• Laboratory services
• Wellness and chronic diseases
• Paediatric services
• Ease of Claims
• Great network with healthcare institutions
• Daycare procedures
• Cashless treatments
• Annual health checkups
• Pre and post-hospitalisation expenses.

Conclusion

It is high time that you give a thought to your health without letting it get worse or waiting for a requirement to arise for health insurance. Ideally, you should never take a chance against your health but get latent health insurance for freelancers such that you do not have to deplete your savings at the time of any medical emergency.

Moreover, having active health insurance will help you meet the needs of hospitalisation, easy reimbursement, and emergency services, along with better financial planning. If you have not already gotten your insurance, it's time for you to reach out to the Royal Sundaram and get one before anything serious happens.