Should you opt for health insurance that covers OPD expenses or not?

Have you ever thought about how many times you or your family members get hospitalized in a year? Not at all or probably once in a blue moon.

Okay, now think about how many times do you incur pharmacy expenditure in a year? A couple of times or even more, right? Some of you may even be incurring medicine expenses every month – regular medicines for grandparents, supplements for yourself, or medicines for seasonal flu. All these expenses are paid from your pocket. Health Insurance that offers OPD cover assists the insured to claim expenses other than that incurred during hospitalization.

What is OPD?

OPD means an outpatient department, where patients come to the hospital to consult their health issues with the doctor to start the treatment. Patients are not required to be hospitalized but can visit any associated facility, such as a consultation room, diagnosis, pharmacy, etc., in the hospital.

Benefits of opting for Health Insurance with OPD coverage

  • As compared to regular health insurance policies, there are more tax benefits associated with OPD coverage plans.
  • Policyholders can claim tax exemption on the premium paid for such health insurance policies.
  • There is no Tax Deductible at Source for claims.
  • In most health insurance policies with OPD cover, the insured can claim reimbursement on expenses multiple times during the policy period.
  • This policy covers pharmacy bills and thereby helps those who have more expenses from the same.