- Date : 13/06/2023
- Read: 3 mins
Don't overlook the room rent limit when buying health insurance! It can save you from unexpected expenses and ensure quality healthcare. Protect your health and wallet wisely!
- Don't overlook the room rent limit; save on expenses
- Higher sum insured, higher room rent limit—be covered
- Read the policy carefully and avoid surprises during hospitalisation
Health insurance is crucial for safeguarding our physical and financial welfare during medical emergencies. However, among the various factors to consider while buying health insurance, one aspect that policyholders often underestimate is the room rent limit. Let’s explore the concept of room rent capping in health insurance and highlight why it is crucial to consider this factor when selecting a health insurance policy.
What is health insurance room rent?
Hospitals categorise their rooms by considering the amenities and services available, which include options like shared rooms, individual private rooms, standard accommodations, deluxe accommodations, and more.
The room rent limit varies from one policy to another and can range from 1% to 2% of the sum insured. The room rent limit applies to the overall hospitalisation expenses, including doctor's fees, nursing charges, and other medical costs. Therefore, choosing a higher room rent limit policy is essential to avoid any financial burden during hospitalisation.
What is room rent capping in health insurance?
Room rent capping in health insurance policies limits the reimbursement for room rent expenses when hospitalised. If your room rent exceeds the specified limit, proportionate deductions will apply. Opting for a higher room limit converts the difference into a percentage deduction from the final bill, excluding medicine costs.
Suppose your policy offers coverage of Rs. 5 lakhs, with a daily room rent limit of Rs. 7,500. However, if you select a hospital room costing Rs. 10,000 per day, you will be responsible for covering the additional expenses. The excess amount over the room rent limit will be converted into percentage. This percentage will be used to deduct the amount that will not be covered in the final bill except for cost of medicines.
Things to consider while buying the right health insurance
Here are some recommendations to assist you in making a well-informed choice:
- Check the room rent limit: Before purchasing a health insurance policy, verify your room rent limit. Choose a policy offering a higher room rent limit to ensure you are adequately covered during hospitalisation.
- Opt for a higher sum insured: A higher sum insured means you will have a higher room rent limit. Therefore, opting for a higher sum insured is advisable to ensure you are adequately covered.
- Read the policy document carefully: Read the policy document carefully to understand the terms and conditions related to the room rent limit. Also, clarify any doubts with your insurance provider before purchasing the policy.
- Proportional Deductions: Understand the policy's provisions regarding proportionate deductions when the room rent exceeds the limit.
The room rent limit is a crucial factor that policyholders should consider while buying health insurance. If not chosen wisely, it can impact your claim settlement process and lead to financial burdens. Therefore, opt for a policy offering no capping or a higher room rent limit. Read the document carefully to avoid surprises.