A sudden medical emergency can quickly wipe out years of hard-earned savings. In India, hospital bills rise by around 13% to 14% every year. Medical treatment costs for serious illnesses such as heart surgeries, cancer care, or major accidents can easily cost between ₹10 lakh and ₹25 lakh in private hospitals.
Considering this, having health insurance for you and your family is essential. However, many people wonder about the right coverage amount when choosing a family medical insurance plan. In this article, we will answer that question.
How Much Family Health Insurance Coverage Is Enough?
The right coverage for medical insurance plans for a family depends on the family members’ health condition, size and city.
- A family of 3 to 4 people needs at least ₹10 lakh to ₹15 lakh. This comfortably covers most standard surgeries and treatments.
- Hospital rooms, doctor fees, and surgeries are much pricier in cities like Mumbai, Delhi, or Bengaluru. A cover of ₹20 lakh to ₹25 lakh is recommended.
- Older parents face higher medical risks. If they share your family policy, aim for ₹25 lakh to ₹50 lakh to cover their high medical treatment costs.
What Major Hospitalisation Expenses Should Your Family Medical Insurance Plan Cover?
Here are some of the major hospitalisation expenses covered under medical insurance plans for families.
- In-Patient Hospitalisation Expenses: The plan will cover nursing fees, medicines, doctor visits, and ICU costs whenever a family member is admitted for more than 24 hours. It ensures you do not have to pay for essential care during a hospital stay.
- Pre and Post-Hospitalisation Expenses: The plan pays for doctor consultations, diagnostic tests, and medicines incurred before admission and after discharge. It shields your family from the heavy medical bills needed to diagnose an illness and recover.
- Day Care Procedures: The health insurance plan also covers day care procedures like cataract operations that do not require an overnight hospital stay. You receive full claim coverage even if the medical procedure wraps up the same day.
- Organ Donor Expenses: The plan also covers the surgical expenses involved in harvesting an organ from a donor if a family member requires an organ transplant. It helps your family afford life-saving transplant procedures without facing unexpected donor hospital bills.
Manage Hospitalisation Expenses with TATA AIG Family Health Insurance
Managing hospitalisation expenses is easy with the TATA AIG family health insurance plan. The plan comes with sum insured options up to ₹5 Crore. Not just this, with over 15,000 network hospitals across the country, you get cashless treatment with minimal paperwork.
Furthermore, covering your entire household is simple and budget-friendly with TATA AIG. The plan offers a direct 22% discount for 2 members. A family of 3 gets a 28% discount with a child, or 22% without one. Larger families of 3 or more can save 32% with two children, 28% with one child, and 22% with no children.
