The COVID-19 pandemic has brought about many changes, including how people view and access health insurance. In India, the Corona Kavach plan was introduced to cover COVID-19-related expenses. The public has well-received this policy, but there are concerns about the impact of pre-existing medical conditions on coverage under this health insurance plan. This article will explore the effect of pre-existing medical conditions on coverage under the Corona Kavach health insurance plan.
What are Pre-existing Medical Conditions?
A disease or medical condition the insured had before acquiring health insurance is a pre-existing condition. IRDAI states that a situation is considered pre-existing if the insured person receives a diagnosis up to 48 months before acquiring insurance. All chronic medical diseases, such as diabetes, asthma, high blood pressure, thyroid issues, and others, are considered pre-existing illnesses.
Impact of Pre-existing Medical Conditions on Coverage under the Corona Kavach Plan
The Corona Kavach plan covers hospitalisation, treatment, and other medical expenses related to covid-19 test. However, if an individual has pre-existing medical conditions, the coverage for COVID-19 may be impacted. The insurance company may exclude coverage for COVID-19-related expenses if they are directly or indirectly related to the pre-existing medical condition.
For example, if an individual has diabetes and develops COVID-19, the insurance company may exclude coverage for COVID-19-related expenses if they are directly or indirectly related to diabetes. This means that the individual may have to bear the cost of COVID-19 treatment out of their pocket.
COVID-19 Test Requirement
If an individual has pre-existing medical conditions, they may be required to undergo a covid-19 test before purchasing the corona kavach plan. This is because the insurance company may consider the individual at a higher risk of developing severe symptoms if infected with COVID-19 due to their pre-existing medical condition.
Coverage for New Variants
Another factor to consider is the emergence of new variants of COVID-19. The impact of pre-existing medical conditions on coverage under the Corona Kavach plan may differ for the latest variants.
For example, suppose an individual has asthma and develops COVID-19 caused by the covid xe variant. In that case, the insurance company may exclude coverage for COVID-19-related expenses if they are directly or indirectly related to asthma. This is because the Delta variant is known to cause more severe symptoms in individuals with underlying health conditions, such as asthma.
Reviewing Policy Terms and Conditions
It’s important to note that the impact of pre-existing medical conditions on coverage under the Corona Kavach plan may vary from one insurance company to another. Some insurance companies may cover COVID-19-related expenses, even if they are indirectly related to the pre-existing medical condition.
It’s crucial to carefully review the policy terms and conditions before purchasing the Corona Kavach plan or any other health insurance policy to ensure adequate coverage for your medical needs.
Financial Planning for Individuals with Pre-existing Medical Conditions
If you have pre-existing medical conditions, planning your finances is essential. The cost of COVID-19 treatment can be high, especially if you are not covered under the corona kavach plan or any other health insurance policy. Here are some financial planning tips for individuals with pre-existing medical conditions:
Create a Budget
Make a list of your income and monthly spending. Use this to find places where you can decrease expenses and save money.
Build an Emergency Fund
Monthly contributions should be made to an emergency fund. This can help you cover unexpected medical expenses, such as the cost of COVID-19 treatment.
Consider Taking a Loan
If you don’t have enough savings to cover the cost of COVID-19 diagnosis, you may want to consider taking out a loan. However, carefully review the loan terms and conditions to ensure you can afford the payments.
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Seek Financial Assistance
Some hospitals and medical facilities may offer financial assistance to individuals who cannot afford the cost of medical treatment.
Pre-existing medical conditions can impact the coverage provided under the Corona Kavach health insurance plan for COVID-19-related expenses. Review the policy terms and conditions before purchasing a health insurance policy from Niva Bupa to ensure adequate coverage. Individuals should also plan their finances to ensure they can afford COVID-19 expenses. These tips and seeking financial assistance can better manage their finances during these challenging times.
