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How to Reduce Hospital Bills and Medical Expenses

The cost of medical treatment is going up and up with each passing day. The average amount of money spent by an Indian family on healthcare comes to around 7% of their total expenditure. This is because we don't plan our finances properly and totally neglect the importance of health insurance policy. Also, our hectic schedules and poor lifestyle have contributed to our poor health conditions. The sheer ignorance and failing to take good care of ourselves have made things harder for us. When a disease is diagnosed on a later stage, the total amount of money it requires to be cured is vast. That's why, in medical cases, the sooner the diagnosis, the better!   

Now and then we get to read this new story of someone blaming their hospital for overcharging. There are even jokes on how patients get a heart attack after receiving their hospital bills. All the dark-humour and cliché has made this topic a joke. However, being a smart individual, you should take your financial planning seriously, and excellent financial planning starting by planning your medical expenses. Don't burn up your savings and fall in debt for medical treatments, get a health insurance policy right away.

Why do you need a health cover?

Not only getting a health insurance policy helps your peace of mind, but also helps you manage your medical expenses. With the increase in the number of lifestyle diseases, the risk of getting hospitalised is also on the rise. The rising cost of hospitalisation, on the other hand, makes it all even worse. Unless there's a health insurance policy to back you up, it can be financially damaging to your wealth.  By paying a minimal premium each year, you cut the risk of incurring a substantial medical expense. With a 15% increase in the cost of medical cost every year, having adequate coverage for self and family members is the best solution to cut your hospital bills and related expenses. It should no longer be an option to have a health insurance policy but a necessity because of the escalating cost of medical treatment.

A health insurance policy comes with cashless benefits as well. This feature eliminates the need of you to pay for the treatments at the very moment it happens. You don't need to spend money from your own pocket; the insurance company will take care of the bills, while you take care of your family and yourself. This is especially useful when dealing with critical illness and other chronic diseases.

Health insurance also gives you the benefit of regular medical checkups, immunizations, etc. Complimentary regular check-ups can help you save big and track your health conditions in a better manner. There are several other benefits that you get with a health insurance plan.

What's more? You can buy health insurance policy online as well. Just a few details and you are good to go. Research and opt for plans that come with no or low sub-limits in them. Don't take decision solely based on premium. Take an informed decision and live smart!​