Have you ever wondered how great it could feel to be rewarded for keeping in good health? Guidelines laid down by the IRDAI have made this thought a viable reality. The guideline directs
insurers to incentivize policyholders who qualify for preventive and wellness features through offering reward points. It acts as a great way of emphasizing the importance of wellness benefits. Wellness benefits are a range of services that add value to the policyholder’s existing plans without any additional cost.
Despite the convenience of modern resources, maintaining a balance between the body and mind is a challenge for most of us. While technological provisions have made leading a healthy life easier, finding time amid our busy routines is the prime problem. This is where wellness benefits come into the picture and encourage policyholders to devote time and effort to their health. Insurers make this exciting by offering attractive rewards in the form of wellness benefits. Let’s look at some popular wellness benefits offered by insurers today:
Reward Point Incentives
This type of reward points grants discounts or concessions on various facilities such as diagnostic centres, network hospitals, medical bills, etc. These days insurers monitor just how well an insured person is managing their health through mobile applications that can be tracked and traced for information. By doing so, insurers incentivize healthy behaviour and the idea of abiding by a healthy lifestyle. Policyholders could use these reward points for several activities to keep themselves fit like gym memberships, marathon participation, yoga practices, routine workouts, etc.
Wellness Coaches
Often, insurers offer a wellness coach or mentor as part of their wellness program. This wellness coach helps the insured make conscious decisions about their health and wellness. They acquaint insurers with a suitable, balanced diet, adequate exercise, proper nutritional guidance, quitting unhealthy habits like smoking and drinking, correction of body weight, etc. Wellness coaches are in association with insurers and offer extensive support to policyholders towards a healthy and improved lifestyle. By achieving set targets, policyholders either get reward points or reward benefits. These points can be redeemed for an array of health-related services.
Specialist Guidance
Certain health insurance plans offer the guidance of a specialist or the second medical opinion benefit for particularised diseases and surgeries. These are pre-scheduled appointments about which the insured must inform the insurer before attending. The standard procedure involves requesting a well-filed claim form that includes copies of all medical records, investigation reports and ongoing medications.
Renewal Discounts
This wellness benefit is yet another motivating factor for the insured to take care of and monitor their health. It motivates insurers to give discounts during the renewal period of the policy. This discount price is mostly based on the premium amount of the insurance, pharmaceuticals or consultation services.
These benefits vary from insurer to insurer, based on the wellness benefits offered by them. Therefore, it is advisable to do thorough research on the details of the policy to avoid any confusion. Make sure that these benefits fit your medicare needs and requirements to reap their long-term benefits.
