Do you know the difference between a ‘Mediclaim’ and ‘Health Insurance Policy’? These two are being used interchangeably. Although, both these terms are used in the context of hospitalisation and medical expenses, they are two very different protection plans. Read this space to know how.  

What is a Mediclaim?  

A mediclaim is a policy that covers medical expenses when one gets hospitalised. It also covers expenses in certain cases when he/she is at home due to an accident or illness. A mediclaim policy can be of cashless or the reimbursement type. In the former case, one can avail cashless mediclaim at select hospitals that have tie-ups with your policy service provider. In the latter case, the insurance company reimburses the expenses incurred on submitting the medical bills. 

What is a Health Insurance?   

If a person buys a health insurance plans, then apart from the hospitalisation costs, the insurance company will also meet related expenses which may include the ambulance charges, pre and post-hospitalisation care, doctor fees, among others. Similar to the mediclaim policy, the health insurance cover also has cashless and reimbursement options. 

1) Mediclaim Vs Health Insurance: Mediclaim and Health insurance are different in certain aspects. Important among them are pre and post hospitalisation services, allied expenses cover   

2) Pre and post-hospitalisation: In case of a mediclaim, the company strictly covers hospitalisation costs up to a certain extent and for a specific time and home care in select cases. While, the health insurance includes pre and post hospitalisation care, diagnostic tests, and doctor fee, among other benefits depending upon the policy type. 

3) Ambulance charges: Mediclaim policy does not cover expenses related to ambulance. However, a health insurance plan cover these charges up to a specified limit. 

4) Maternity benefits: There are built-in provision for costs incurred before, during and after the pregnancy in a health insurance plan. However, mediclaim covers only the hospitalisation costs and does not include other additional expenses. 

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5) Cost and benefits: With a greater number of services covered in the health insurance plans, it is more expensive than a mediclaim policy.