Diabetes has become a major healthcare concern in India. According to reports by the World Health Organization (WHO), the number of individuals suffering from diabetes in India was 31.7 million in 2000. However, this number is slated to increase to 79.4 million by the year 2030.
Diabetes, also known as diabetes mellitus, is a chronic medical condition wherein the body processes a high amount of blood sugar. This is mainly due to the inability of the body to produce insulin or because the body does not respond to insulin. The risk of developing a range of diseases, including cardiovascular diseases, is high for diabetic patients.
There are two types of diabetes, namely, type 1 and type 2. In type 1 diabetes, the immune system attacks and kills the beta cells of the pancreas. Hence, very little or no insulin is released into the body. In type 2 diabetes, the body does not use the insulin that is released by the pancreas. Alternatively, the amount of insulin produced is not sufficient for the body’s needs.
Having an insurance coverage
Since diabetics have to bear constant cost towards medical expenses, being covered under a health insurance plan is recommended. Many individuals have a pre-conceived notion that insurers do not provide health coverage for individuals suffering from diabetes. However, the same is not true. Insurers offer health insurance for diabetic patientsat affordable rates.
Following are six major benefits of investing in a diabetic health policy.
1. Coverage against medical inflation
Medical inflation in India is on the rise. Earlier, the rate of healthcare inflation was 8-9%. However, this number has sharply increased to 20% in recent times. Given this trend, treatment costs may turn out to be an expensive affair. In order to avoid out-of-pocket expenses towards medical bills, diabetic patients may consider purchasing adiabetic health insurance policy.
2. Coverage against doctor’s fee
Since diabetes is a chronic condition, diabetic patients are required to visit their diabetologist for regular consultation. The cost of such consultation may be high. Health insurance plans, designed specifically for diabetes patients, cover consultation-related expenses, thereby reducing the financial burden.
3. Coverage against tests
Early diagnosis of diabetes is necessary in order to receive timely treatment. There are a number of tests that help determine if a person has diabetes such as Hemoglobin A1C test (HbA1c), random blood sugar test, fasting blood sugar test, oral glucose tolerance test,and two-hour postprandial test, among others. Investing in a diabetic health insurance plan provides coverage against expenses incurred for taking such diagnostic tests.
4. Coverage against medicine-related expenses
Patients suffering from diabetes, both type 1 and type 2, often worry about the high cost of medicines. Investing in a health plan for diabetic patients means that they have one less thing to worry about. The insurance provider will cover all medicine-related expenses.
5. Coverage against hospitalization costs
Uncontrolled diabetes may often result in hospitalization. In an event that you are hospitalized due to the chronic ailment, you may have to make out-of-pocket expenses towards the same. This includes expenses towards the doctor’s fee, nursing charges, disposables, bed charges, and room rent, besides others. Health insurance for diabetes patients covers such costs, thereby allowing the patient to focus on receiving quality treatment instead of worrying about arranging finance.
6. Coverage against conditions arising due to diabetes
The good news is that the scope of diabetic health insuranceis extended beyond diabetes. Such health plans cover conditions that arise because of diabetes. This includes diseases of the eye, kidney, or feet, among others. Patients may,therefore,avail of such benefits through adiabetic health cover.
Given the numerous benefits, such a policy has to offer, diabetics may consider investing in health insurance for diabetic patients. By doing so, they may enjoy comprehensive coverage that tackles disease-specific expenses.