Top 5 Health Insurance Companies that Rocked in 2016

There was a time when health insurance plans were a luxury for the Indians. However, these days the picture has changed and people want to buy as many as they can afford. There are different types of insurances that are available designed to meet medical expenses, accident compensation, healthcare expenses and much more. It is logical to buy a health insurance instead of paying for any major treatment from your pocket, should it arise.

Health costs are escalating in leaps. It is true that many individuals own a family floater or group health insurance, but buying a standalone health plan is a rational decision. Are you aware of the healthcare costs in the past few years? No. Then, look here:

Healthcare costs in past few years- Average Hospitalization costs

• Rural

2004- Rs. 5,695

2014- Rs. 14,935 (10%)

• Urban

2004- Rs. 8,851

2014- Rs. 24,436

What are the five best Health Insurance Companies in 2016?

Now that you are aware that you should own a health insurance policy, you should know how to track the right one. There are more than 25 insurance companies in Indiaand all have their related terms and condition with regarding to policy coverage, claim incurred ratio, premium amount, etc. To help you get a glimpse of the five best from the lost here have a look.

• Max Bupa

A joint venture between Bupa and Max India Limited, Maz Bupa Health Insurance company is a renowned healthcare group with headquarters in UK. The company offers cashless treatment in over 3500 hospitals. The standout features are medical costs, cashless facility and pre & post hospitalization. Touted with the ‘IT Leadership award’, the company is one of the most coveted health insurance companies. You can get individual, family insurances along with family floater.

Also, the company assess premiums of individuals based on their region. Besides, the company does not restrict the policy eligibility criteria with any upper age limit, thus facilitating people buying the policy irrespective of their ages. There are others benefits like maternity cover after the waiting period is over.

• Cigna TTK

The company is a joint venture between TTK Group and Cigna Corporation. It is a standalone medical insurance company. It aims at increasing health management for its policyholders through the different health plans. The different health insurance plans are ProHealth Protect Plan, ProHealth Preferred Plan, ProHealth Plus Plan, Lifestyle Protection- Accident Care Plan, Lifestyle Protection- Critical Care Plan, etc.

• Star Health

This is a joint venture between insurance veterans in the country, Oman health insurance company and ETA Ascon Group. This company is one of the first health insurance companies that offer family floater and individual health plans. Customers are also provided the unique facility to consult with their general physicians for free of cost.

• Apollo Munich

After coming to form in 2007, Apollo Munich was established as a collaboration between Apollo Hospitals Groups and Munich Health. The company also won the prestigious award "Health Insurance Company of the Year". Under its "Optima Restore" the company offers cashless treatment to over 4000 hospitals in India. The popular health covers by Apollo Munich are Optima Super, optima Cash, Easy Health and Energy.

Most of the insurance plans offered by the company have the unique features of portability along with due benefits of the existing policies and also a lifetime renewal option.

• Religare

After coming into existence in 2012, Religare Health Insurance Company is a combination of Corporation Bank, Union Bank of India and Religare Enterprises Limited. This is an Indian Stand-alone health insurance Company. It covers over 4000 hospitals.

Although not mentioned in the top five health insurance company, it is worth mentioning that Oriental health insurance is one of the most facilitated coverage offered. It covers a total of seven members, pre and post hospitalization and health checkup.

Prateek is a seasoned independent writer. His explanatory and creative writing style helps understand the subject matter easily and offers tips, tricks and expert suggestions for Star Health Insurance polices..