In India, the state governments are responsible for ensuring a good healthcare system is in place in the state. They make sure that the public has access to good healthcare and emergency healthcare facilities. However, it is the individual’s responsibility to make sure that he/she purchases a health insurance policy that will offer coverage of expenses for treatments availed in such healthcare centres.
Visakhapatnam is one of the Indian cities that is going to be developed into a smart city. In order to do so, it is essential to focus on the healthcare infrastructure. Many public hospitals and private multispecialty hospitals exist in the city to aid the common people to get treated for various health issues. One of the key points the government is keen on improving is the cost of treatments provided in government hospitals. It is important to make treatments affordable so that the poor do not avoid getting treated only due to financial reasons. Further, the state government will provide health cards to the people of the backward classes so that they can use them to pay hospitalisation expenses up to a certain limit.
While the major cities in India are well developed, the tier II and tier III cities mostly do not have access to the best facilities. Poor sanitation and lack of safe drinking water are major issues faced by such regions. Due to such problems, health issues are rapidly increasing. Individuals would require treatments in hospitals if they are diagnosed with a serious health issue. Instead of being unprepared for such expenditures, it is best to purchase a health insurance policy that will pay for the treatments in the event of an emergency.
Visakhapatnam has access to a number of health insurance companies. Here are the details of few of the insurance companies in the city:
Star Health and Allied Insurance Co. Ltd. started its health insurance operations in the year 2006. Since the company is focused only on health insurance, it provides a range of comprehensive health plans for individuals, families, and parents. The company also provides travel insurance and personal accident insurance. Visakhapatnam has several network hospitals of Star Health, a few of which are Padmaja Hospital, Annapoorna Hospital, Vaishnavi Hospital, Sri Krishna Hospital, Vasan Eye Care, Apollo Hospitals, etc.
Cholamandalam MS General Insurance Company has more than 109 branches pan-India. Further, the number of agents cross 9,000 across the country. The company offers insurance products such as accident insurance, marine insurance, motor insurance, rural insurance, health insurance, etc. Under the health insurance category, individual and family health insurance plans are available. The company also has network hospitals in Visakhapatnam. Some of them are A.N.Beach Hospital, Care Hospitals, Kanaka Durga Hospitals, Simhadri Hospital, Surya Hospital, etc.
SBI General Insurance Company Ltd. started its operations in the year 2010 and offers a wide range of insurance products such as motor insurance, travel insurance, and health insurance.. The health insurance plans offered by SBI are comprehensive and flexible. It offers coverage to individuals as well as families. Additional critical plans, hospital daily cash plans, and top up plans are also offered. The insurer has several network hospitals in Visakhapatnam, some of which are ABC Hospital, Manipal Hospital, Padmaja Hospital, Lotus Hospitals for Women and Children, etc.
Royal Sundaram General Insurance Co. Ltd. started its operations in the year 2000 and the products offered by the company are scattered across 136 cities of the country. The company sells nearly 20 lakh policies every year. The insurance products offered by the company are motor insurance, health insurance, travel insurance, personal accident insurance, home insurance, and business insurance. The insurer has designed two health insurance policies for its customers. One of the policies is targeted for individuals and the other is for families. The network hospital list of Royal Sundaram in the city of Visakhapatnam includes Apollo Hospitals, Apoorva Health Services Pvt. Ltd., Indus Hospital, R.K. Hospital, Suryashri Hospital, etc.
IFFCO Tokio General Insurance was set up in the year 2000 and offers many beneficial motor insurance, travel insurance, home insurance, and health insurance plans apart from business insurance, speciality insurance, micro & rural insurance plans, etc. Under the health insurance category, the company offers personal accident insurance plans, critical insurance plans, and other plans in addition to individual insurance plans and family floaters. Among the many network hospitals of the company in Visakhapatnam, some are Bharathi Hospital, Care Hospital, Kanakadurga Hospital Pvt. Ltd., Krishna Hospital, Padmaja Hospital, Vasan Eye Care Hospital, etc.
Religare Health Insurance Co. Ltd., which has Union Bank of India and Corporation Bank as its shareholders, offers personal accident insurance plans, travel insurance plans, and general health insurance plans. The general insurance plans include individual insurance plans and family insurance plans. The list of network hospitals of the company in Visakhapatnam includes Sevenhills Healthcare Pvt. Ltd., Manipal Hospitals, Vasan Eye Care Hospital, Apollo Hospital, Indus Hospitals, etc.
Insurance companies generally offer two types of claim settlement options - cashless transaction and reimbursement facility. The cashless transaction facility is available only in network hospitals. In such cases, the insurance company or the third-party administrator pays for the expenses incurred by the insured individual at the time of discharge. The reimbursement facility, on the other hand, lets the insured person claim the total expenses incurred by him/her at the time of hospitalisation.
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