Can I have more than one health insurance plan? The simple answer to this question is yes – you can have more than one health insurance plan in your name! In fact, having multiple policies can work out to be highly advantageous for you as well. However, successful handling different medical plan requires a little bit of planning and preparation. Keeping this in mind, the following article will go over some important pointers that will help you make efficient purchase decisions and maximize the utility of your health insurance coverage. First off, let’s look at some benefits of having multiple plans: Let’s say you are already covered by a group insurance policy provided by your employer. In such a scenario, getting a plan of your own might not seem necessary. However, one should always remember that employee health insurance plans offer very minimal coverage. Moreover, the coverage of such a plan is subject to your continued employment at the organisation – if you quit or retire, you are no longer protected under your group health insurance policy! Let’s look at another scenario wherein you are covered under a family floater plan. Again, it would seem like you have the health insurance box ticked and need not get a plan of your own, right? Well, not necessarily!
A family health insurance plan is great, but it is not specifically geared to meet your individual healthcare needs. Therefore, it could pay dividends to get a separate health insurance policy of your own. You can customize the coverage of this plan to cover your individual needs, whilst also complementing your existing family health insurance policy. You could also have two individual plans from two different insurance providers. The second plan could cover things that aren’t covered by the first. Or, you could opt for a second plan to increase the overall sum insured you are covered for. This ensures that in case the coverage of the plan is exhausted, you still have a back-up option to call upon in case of a major medical emergency. Finally, having more than 2 health insurance plans could also give you access to better tax savings. This ensures that not only do you get higher levels of protection but you also end-up reducing the amount of cash you hand over to the taxman every year! I have more than one health insurance plan, how do I make a claim? That’s simple - you can make a claim against any one of your health insurance plans. If your medical expenses exceed the sum assured of the plan, you turn to the second insurance company to help cover the cost. Just ensure you disclose the details of both plans to your insurance providers to avoid any hiccups or rejected claims by either of your insurers.
You can also buy supplemental cover. Besides a full-fledged health insurance policy, you can opt for supplemental covers as well. For instance, you can get separate protection against life-threatening illnesses by opting for a critical illness insurance policy. Or, you get protection from grievous injuries caused in an accident by getting personal accident cover. You could also opt for a top-up or super top-up that will cover medical expenses that exceed the sum insured of your existing health insurance policy. More is always better, at least in the case of health insurance. If you plan things correctly, handling multiple plans is easy and will come to the rescue in case of a medical emergency. Hope this article has been helpful, good luck and all the best.