An organ transplant is a procedure that gives hope to the organ receiver and helps bring happiness to several lives. However, this procedure can cost a lot, and thus, having health insurance is crucial. But does health insurance cover liver transplants or other organ transplant costs?
The answer is yes. Some policies include critical illness coverage, which provides financial assistance for such treatments. Let’s examine organ transplant insurance and its benefits in detail.
What is Organ Transplant Insurance?
Organ transplant insurance is a critical illness policy under health insurance. The insurance provides financial assistance for medical expenses related to organ transplant procedures. The expenses covered by insurance include pre-transplant evaluation, postoperative care and follow-up visits with the doctor.
Having organ transplant coverage eases the financial burden placed on the patient caused by the costly and complex procedure of organ transplantation.
Benefits of Organ Transplant Insurance
Covers Cost of Complex Surgery
Organ transplant surgery is costly, and paying for it completely out of pocket can drain your savings and other financial resources. But if you have taken a policy that includes organ transplant insurance, then a lot of your expenses will be saved, and you can get the best treatment with insurance money.
Donor Insurance
Another benefit of critical illness insurance is that it provides coverage for organ donors. Donating organs is a noble cause and is often encouraged to save lives. Donor coverage addresses the donor’s medical and healthcare expenses related to the organ transplant process, thus easing their financial concerns about organ donation.
Cashless Reimbursement Benefit
Organ donation is a critical procedure, and every minute of it is crucial. The cashless facility in organ transplant insurance helps speed up the claim settlement process, which results in the convenience of timely financial support during the critical time of organ transplantation.
Tax Savings
Buying organ transplant insurance makes the policy buyer eligible for tax exemptions under Section 80D (old tax regime) of the Income Tax Act 1961. It means that in addition to saving lives and money during the transplant procedure, you can also claim deductions (up to ₹25,000/₹50,000) on the premiums you pay toward your insurance policy every year.
Things to Remember While Buying Health Insurance With Organ Transplant
- Always make sure to check for inclusions and exclusions of the organ or liver transplant insurance before buying it.
- Look for the list of the insurance company’s network hospitals and make sure that some of them are near your residence.
- Check with the insurance company for related health coverage, such as screening tests, checkups and more, to detect critical illness early.
- If the insurance company provides donor insurance, then make sure to check its exclusion and inclusion points carefully.
- Make sure to select an insurance provider with an easy claim procedure, whether it is a cashless or reimbursement claim process.
To Sum It Up
Going through a critical medical procedure like a kidney transplant or any other organ transplant is physically taxing. However, you can also ensure that the procedure is not financially taxing by getting organ or kidney transplant insurance.
The insurance coverage for organ transplant procedures and other benefits will help you go through the treatment without worrying about finances. Thus, you can concentrate on getting the treatment and speedy recovery afterwards.
