The number of individuals suffering from lifestyle-related diseases is on the rise. According to the World Health Organization (WHO), around 38 million individuals across the globe suffer from chronic diseases. Based on a paper ‘NCDs in the Development Agenda’, around 20% of the population of the country suffers from at least one chronic disease. The increasing number of individuals contracting chronic diseases, in turn, has an adverse impact on the economy of the country.
Understanding chronic diseases
Chronic diseases, also known as Non-Communicable Diseases (NCDs), may be understood as a medical condition that is long-term in nature, generally three months or more. When a disease persists over a long period of time, it may eventually lead to activity limitations and also hinder individual independence. Some common examples of chronic diseases include cardiovascular disease such as stroke or heart attack, cancer, obesity, diabetes, and arthritis, among others.
Impact of chronic diseases on health insurance
One of the greatest challenges faced by the healthcare industry is the efficient management of such chronic illnesses on a long-term basis. Individuals too have to bear the exorbitant medical expenses associated with treating such diseases.
In order to overcome this issue, many insurance providers have introduced chronic management programs and offer health insurance plans that cover such illnesses. Such insurance policies offer coverage against medical costs, such as diagnostic tests, medical consultations, and pharmacy expenses, among others. These insurance policies also cover hospital-related costs in case you are admitted after the waiting period. Moreover, some insurance providers offer wellness coaches and expert guidance under their chronic disease management scheme. Such guidance goes a long way in ensuring that you receive timely assistance with respect to lifestyle changes, diet plans, and exercise routines, and much more.
The benefits of purchasing a chronic health insurance plan are many. Following are three major advantages of investing in such a type of health policy.
- Reduces financial burden: Given that your health insurance provider will pay for your medical bills, you do not have to worry about arranging funds for the same. Additionally, you may opt for a cashless policy, thereby ensuring that you do not make any out-of-pocket expenses. This reduces your financial burden to a great extent.
- Allows you to seek quality treatment: You may undergo quality treatment from hospitals specialized for a particular disease. For example, if you are suffering from cancer, you may visit the leading cancer hospital and receive the best treatment facility without worrying about finances. Also for more information you can check out on 10 minute ideas for further knowledge.
- Provides peace of mind: If you buy chronic health insurance, you may rest assured of being financially covered in case of the contraction a disease. You may, therefore, have peace of mind, knowing that you are covered at all times.
However, it is important to note that, based on the severity of your chronic disease, your health insurance premium will be affected. A higher premium is charged in such cases as the insurance providers try to offset the high risk. Insurance providers assess your medical condition at the time of the purchase of the policy. They may also check your family history for diseases to evaluate your chances of getting hereditary medical conditions.
While you are looking out to buy chronic health insurance, it is important that you conduct extensive research on various options. You may compare the features and benefits of various plans, and make a choice based on your needs. You may opt for an affordable chronic health plan that offers the maximum benefits.