- Date : 22/09/2022
- Read: 2 mins
EPFO to provide health insurance to its subscribers!
Ayushman Bharat health coverage for EPFO subscribers
Nowadays, health insurance has become one of the necessities as hospitalization charges are increasing. You need to secure your health and ensure that if you face any issues, you will be taken care of. When you meet with a medical emergency, your finances are impacted. To ensure that you have the money for your medical emergencies, you need to buy insurance from a good company.
But if you are an EPFO subscriber, there is some good news for you. You might soon be eligible for Ayushman Bharat health insurance coverage. If the rumours are to be believed, this proposal might soon be approved by the end of this month. You will be eligible for cashless insurance of up to ₹5,00,000. This scheme will be available for EPFO pensioners and their spouses. As per the proposal, the premium will be borne by the EPFO, which will be ₹111.
Related: Group health insurance Vs Individual health insurance
Ayushman Bharat Card
The central government implemented the Ayushman Bharat card to provide free healthcare services to citizens of the country. The scheme began in September 2018 and provided free treatment of up to ₹5,00,000. The plan covers chronic diseases as well and is available to all the people who qualify for the card. The scheme covers pre and post-hospitalization expenses. Also, the transportation expenses are included as well.
The scheme, if implemented, will be a huge plus for EPFO subscribers. You will be eligible for cashless treatment of ₹5,00,000. The scheme is expected to be implemented by the end of the month. You should wait for the final guidelines, and once the guidelines are approved, you should note them down to help you in case of emergencies. The scheme will link EPFO and Ayushman Bharat cards to help you prepare for medical emergencies.
Related: Multi-year vs Single year health insurance
At present, the employee deposit linked scheme is available to all EPFO subscribers. This scheme provides benefits in case of death. A total of 7,00,000 may be available for the nominee of the insured person. The scheme is based on a hybrid of EPF and EPS. If you are an EPFO subscriber, you should have knowledge of these schemes. Also read, How to switch from Group health insurance to Individual health insurance?
