My ignorance cost me 2 lakhs!
By: Abinaya Raaj
Tags: Mediclaim, Covid 19, Insurance, Healthcare, Art Of Saving

COVID-19 struck us as well.

Our family went through hell.

Luckily, we survived.

But this post is not about that.

It is about how my ignorance made me rethink my financial planning.

And, why you should too!

…

It was on September 24th.

My dad was slowly developing all COVID-19 symptoms and when that highly dreaded fever possessed him, the temperature hit three figures and stayed up.

Initially, we took a CT thorax which has a potential role in the diagnosis of coronavirus. The CO-RADS score of 5 and above denotes the prognostication of COVID-19. My dad had a mild score of 4. Although the chances were less, the doctor advised us to do a swab test just in case and also suggested a hospital in Tanjore (2 hours away from our hometown).

The next day, we reached the hospital by 10 AM and gave samples for a nasal swab test. The test results came out only by 11:30 PM. Till that point, I had a strong feeling that it would only be a normal fever. To our shock, it turned out to be COVID Positive.

Personally, I feel that the novel coronavirus is not as terrifying as the media hypes it to be.

Almost everyone in my family had the symptoms of COVID-19 and a few tested positive too. We all recuperated without hospitalization through self-isolation for 15 days and took nutritious high-protein diets, breathing exercises, a lot of hot water/ soups, home-made kashayams, some multi-vitamins, and zinc sulfate tablets as prescribed by the doctors.

Disclaimer: However, if the patient is someone with a pre-existing medical condition (chronic illness, breathing ailments, diabetes) that could compromise his/her immunity, it is highly recommended to get admitted as soon as possible to avoid any complications.

Here comes the package details offered by the hospital as if we were planning for a vacation.

Package 1 : 3 lakhs for 10 days — 30k/day (Common ward — 10 bed-sharing/room)

: 3 lakhs for 10 days — 30k/day (Common ward — 10 bed-sharing/room) Package 2 : 4 lakhs for 10 days — 40k/day (Special ward — 3 bed-sharing/room)

: 4 lakhs for 10 days — 40k/day (Special ward — 3 bed-sharing/room) Package 3: 5 lakhs for 10 days — 50k/day (ICU with ventilators)

Special Cases:

Despite the total days of admission, we are expected to pay the full package cost. For example, if the patient gets discharged within 3–4 days, he/she has to pay for 10 days.

In case the patient develops any complications, he will be shifted to ICU(Package 3) and will be charged 50k/day.

Hospital and Medical Insurance companies are highly fabricated and fleecing patients. Since we never know what the future has in store, it is better to be cautious.

The treatment given for COVID-19 is a simple diet and immunity-boosting medications. We do not have to get admitted to an expensive hospital, since this is not something like a cardiac or neural illness that needs intensive care.

How I ended up admitting my father to an expensive MultiSpeciality hospital?

None of the hospitals in my hometown were ready to treat COVID-19 patients (as far as my inquiries).

Reports came late at night, so I had no time to check with the admission charges of other hospitals.

My dad is diabetic, has breathing issues (wheezing) and many more to add to the list.

After a week of severe fever, my dad looked restless and exhausted. He could barely sit upright and it was so devastating to see him in such a state. I decided to admit him immediately without reconsideration.

The hospital indirectly forced us to choose package 2 (special ward), since there would be people with high covid symptoms in the common ward and my dad had only mild symptoms.

Also, I had group mediclaim insurance (GMC) with a top-up of 5 lakhs in my office.

Here is the shock to amateurs like me, you won’t get 100% insurance. 4 lakhs mediclaim insurance doesn’t mean you will get all 4 lakhs back!

Things you should know about Mediclaim

To be eligible for mediclaim, the patient must be admitted for at least 24 hours in the hospital.

If the hospital is in the FHPL network hospitals( https://www.fhpl.net/ ), we will be eligible for cashless transactions. Else we have to submit the bills and apply for reimbursement.

Pre/Post Medical expenses for 30 days prior to the admission and 60 days after the discharge will be covered in our mediclaim policy.

We should apply for the claim within 30 days from the date of discharge.

Some insurance companies may have the co-payer option, which means we have to pay a part of the expense.

Example :

The group mediclaim insurance provided by our office is from the Oriental Insurance company https://orientalinsurance.org.in/documents/10182/45621/HFF_Policy_wording/6ad2772c-5efc-4cc9-a46a-b2def73f9493 — Read the full insurance link

Room charge — 1% of the sum insured/day. For 4 lakhs base policy it’s Rs.4000/day.

**Any charges exceeding this limit per day are to be borne by us.

The following are a few of the expenses that are not claimable.

My Medical Tip — Precaution is better than regret

Get the list of FHPL network hospitals in your area and a list of hospitals that treat corona and other chronic illnesses.

Inquire about rooms available, their charges, and also the package information.

Sharing is caring , please share your experiences as much as possible. A chat with the victims can help you gain knowledge about illness and hospitals.

, please share your experiences as much as possible. A chat with the victims can help you gain knowledge about illness and hospitals. I have heard my friends discussing that they claimed the maximum out of insurance. Even before admitting I made a final check with my friend who recently admitted his father and got cashless mediclaim where more than 90% of it was claimed. But, no one told me that there is a limitation for a few charges (room/ nurse/ disposals, etc).

(room/ nurse/ disposals, etc). If you have a younger sibling with pre-medical ailments, you can take Corona Kavach insurance for them. https://www.hdfcergo.com/health-insurance/corona-kavach-policy

I highly recommend maximizing the top-up cover of GMC.

My dad’s expense details

My dad’s friend who had severe COVID-19 symptoms got admitted to a good hospital and healed. It cost 1.6 lakhs and almost all of it was claimed back. And some government hospitals provide very good treatment for ZERO cost.

Different hospitals charged the patients at different rates for the same treatment. Yes, my ignorance cost me 2 lakhs.

My Financial Tip — Think before you Spend!

Most of the FHPL hospitals doesn’t provide the option for CASHLESS transaction in COVID-19 cases.

So I had to pay 4.6 lakhs within 5 days. It took me 2 months to get back the claimed amount.

There is something wrong with not knowing the difference between; Need and Desire. Next time before your unnecessary extravagance, please ensure that you have a minimum of

1)10k cash in your wallet

2)1Lakh liquid cash in your account

3)5 lakhs (FD/savings with 100% liquidity) for medical emergencies

The coronavirus pandemic has hit us worldwide with job losses and we have already borne the burnt. We should have some liquid funds to endure the worst case and reconstruct our living.

Conclusion:

We all wait for that untimely discount notification from our go-to brands. We compare, debate, share, waste our data, and time for a product that adds no substantial value to our lives. Whereas most of us ignore to explore the health care industry.

In a nutshell, be accountable for your healthcare and frame your financial goals asap. Please don’t sit and watch all your hard-earned bucks getting burnt.