Even with a billion plus inhabitants on this earth, no two persons are the same! We all have our unique needs and requirements, and this extends to health insurance as well. This is why some new-age insurance providers are now offering customisable health insurance plans that are designed to perfectly meet your needs. These plans are known as à la carte plans and the following article will tell you everything you need to know about them.
A la carte is a culinary term that refers to ‘food that can be ordered as separate items, rather than part of a set meal’. In health insurance, a la carte refers to coverage that can be customised as per your health needs, family size, age, and lifestyle requirements. With such available coverage, you have the freedom to choose from thousands of combinations and craft a plan that makes sense only for one person—that is you! Let’s find out how these plans work.
To begin with, you have the freedom to choose the sum insured you want. Leading health insurance plans will offer sum insured options ranging from Rs 2 lakh to Rs 1 crore. Regardless of the sum insured you choose you get a fixed basic cover such as inpatient and day care hospitalisation along with a cover for pre- and post-hospitalisation expenses. Some of the better plans also provide — domiciliary hospitalisation cover, counselling, reinstatement of sum insured and healthcare and wellness benefits as inbuilt coverage.
This is when the magic begins! The better a la carte plans will allow you to choose from several enhancements options. To start with, you should be able to increase the pre- and post-hospitalisation cover for up to 90 and 180 days respectively. You should also have the option to tweak the co-payment and the waiting periods for pre-existing and named illnesses. You could also add a maternity cover to the policy if you plan on starting a family in the future.
You can further personalise the plan by choosing the add-ons you want. In this regard, the better plans will have add-ons for organ donor expenses, AYUSH treatments, outpatient treatments, emergency road ambulance, hospital daily cash allowance, critical illness cover and so on. Based on the sum insured you choose, some plans will also offer premium benefits such as cover for emergency worldwide hospitalisation, emergency air ambulance, infertility, bariatric procedures, medical inflation and cumulative bonus.
A la carte health insurance plans also provide you several options to lower your premium. You could opt for deductible, voluntary co-payments and room rent capping among others. Through these options, you can share the risk with the insurance provider and lower the premium of your policy.
A la carte plans are perfect if you wish to tailor your health insurance policy around your needs. They offer benefits as per the sum assured you opt for and ensure you get the best value for your money.
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