Preventive care in health insurance is a type of health insurance that encompasses services aimed at preventing diseases or detecting them early, thereby averting serious complications or the need for expensive treatments. Preventive care coverage typically includes services like vaccinations, screenings, counseling, and regular check-ups that are essential for maintaining health and detecting diseases early. Most health insurance plans offer this without additional cost to encourage proactive health management.

Preventive care in health insurance is not only beneficial for individuals but also for insurers. By investing in preventive care, insurers can reduce the risk of paying for high-cost claims, improve customer satisfaction & retention, and enhance their reputation and social responsibility.

In this blog, we’ll talk about the benefits of preventive-care health insurance for both individuals and insurers and why it is a win-win situation for both parties.

Benefits Of Preventive-Care Health Insurance For Individuals

As an individual, preventive care in health insurance can help you:

• • Maintain a healthy lifestyle- Preventive care health insurance encourages you to take care of your health by providing you with free or low-cost access to services that can help you avert or handle chronic health conditions like diabetes, heart disease, & cancer. For example, you can get free blood pressure screenings, cholesterol tests, diabetes tests, mammograms, colonoscopies, pap smears, prostate exams, and more. You can also get free counseling on smoking cessation, nutrition, weight management, alcohol use, and mental health.

• • Reduce your health care expenses- Benefits from preventive healthcare can save you money by detecting diseases early before they become more severe and require more expensive treatments. For example, if you get vaccinated against the flu or COVID-19, you can avoid getting sick and needing hospitalization or medication. If you get screened for cancer and catch it early, you can avoid undergoing surgery or chemotherapy. 

• • Enjoy tax benefits- It can also help you save money on your taxes by allowing you to claim deductions under section 80(D) of the Income Tax Act. You can deduct up to Rs. 25,000 per year for the premium paid for preventive-care health insurance for yourself, your spouse, and your dependent children. If you are an elderly person (above 60 years), you can deduct up to Rs. 50,000 per year.

Benefits Of Preventive-Care Health Insurance For Insurers

As an insurer, preventive care in health insurance can help you:

• • Improve your underwriting accuracy- It can help you evaluate the risk profile of your customers more accurately by providing you with more data on their health status and behavior. For example, you can use the results of their preventive screenings and tests to determine their likelihood of developing or having certain diseases or conditions. You can also use their participation in preventive counseling and education programs to gauge their level of awareness and adherence to healthy habits. This way, you can offer them more personalized and competitive premiums and benefits.

• • Reduce your claims ratio- It can help you lower your claims ratio by reducing the frequency and severity of claims from your customers. By providing them with preventive healthcare services, you can help them bypass or delay the onset of diseases or complications that would otherwise require costly treatments or hospitalizations. For example, if you provide them with free vaccinations against the flu or COVID-19, you can reduce the chances of them getting infected and needing intensive care or ventilation. If you provide them with free cancer screenings, you can reduce the chances of them requiring surgery or chemotherapy.

• • Increase your customer retention- Preventive care in health insurance can help you increase your customer retention by enhancing their satisfaction and loyalty with your services. By providing them with preventive care services, you can show them that you care about their health and well-being, not just their money. You can also build trust & rapport with them by offering them regular feedback and advice on their health status and behavior. This way, you can develop a lasting relationship with them and reduce their likelihood of switching to another insurer.

• • Boost your reputation and social responsibility- It can help you boost your reputation and social responsibility by demonstrating your commitment to improving the health outcomes & quality of life of your customers and society at large. Offering preventive healthcare services allows you to play a role in lessening the impact of illness and disability on individuals, families, communities, and the healthcare system. 

Conclusion

Preventive care in health insurance is a win-win situation for both individuals and insurers. It offers a range of benefits for both parties, such as improving health, saving money, increasing satisfaction, and enhancing reputation. Preventive care health insurance is not only a smart choice but also a responsible one. By focusing on prevention instead of cure, it can help individuals stay healthy and happy while helping insurers stay profitable and competitive.

One example of this is CarePal Secure. CarePal Secure’s health protection plans offer comprehensive coverage for preventive services and chronic conditions. CarePal Secure also provides access to a network of doctors, hospitals, and pharmacies, as well as online resources to help you handle your health better.

With CarePal Secure, planholders can benefit from unlimited teleconsultations with general practitioners and specialists. This facilitates early detection of potential health issues, allowing for timely intervention and treatment. Policyholders can enjoy up to 70% discounts on diagnostic services, making it more affordable to undergo necessary health screenings and tests that are crucial for preventive care. 

In addition to medical coverage, CarePal Secure provides personal accident cover and OPD vouchers, reinforcing the safety net for unforeseen events. 
To learn more about CarePal Secure & how it can help you accomplish your wellness goals, visit https://www.carepalsecure.com.