As per data procured from CSO’s economic survey in 2019, the healthcare inflation in India is rising at double the rate of its overall inflation EMI Card. In the financial year 2018-19, the overall contribution of healthcare to the urban consumer price index stood around 8% while that to the rural CPI was an astounding 14%. From this data, it is evident that the cost of seeking competent healthcare in India is quite high and can pose to be a major problem for middle and low-income groups in the country.
Nonetheless, with health card benefits from leading financial institutions readily available, individuals can avail the best of healthcare without having to worry about putting a dent in their pockets.
Following is an elaboration on who can benefit from these health cards and why availing them is important in the current economic scenario.
What are the health care card eligibility criteria?
The eligibility criteria for availing these health cards vary from one financial institution to another. For instance, to enjoy the benefits of Bajaj Health EMI Card, one has to satisfy a few eligibility criteria –
- The applicant should be between 23 and 60 years of age.
Apart from these, one should also remember that the benefits of health cards can be enjoyed only by existing Bajaj Finserv EMI Network Card holders. Those who are not members of the network can avail this card by visiting the financial institution’s partner outlets like clinics and hospitals.
Further, to enjoy health care card benefits, one also has to provide the documents necessary to avail the card. While existing members do not need to submit any additional documents, new customers need to submit the following documents to apply for the health card –
- Aadhaar card
- PAN card
- A cancelled cheque (only if immediate payment service is unsuccessful)
- Duly signed Electronic Clearing Service mandate.
Those satisfying the above health card eligibility can enjoy the benefits imparted by these cards.
What are the benefits of a health card?
This Health EMI Network Card imparts several benefits that can make bearing medical expenses easier. Some of these include –
- Conversion of medical bills into easy EMIs
These health care cards allow users to convert the cost of medical bills into easy EMIs, to be repaid over a certain period. This makes seeking competent healthcare significantly easier given that one does not have to pay a huge bill at one go, and can make payments in instalments, reducing their financial burden to quite an extent.
- Pan India EMI facility
With this card, individuals can enjoy EMI benefits on bills generated from multi-speciality hospitals, diagnostic centres, pharmacies, dental care clinics, etc. across India. With increased accessibility, the health EMI card makes paying bills easier.
- High pre-approved limit
With health EMI cards from financial institutions like Bajaj Finserv, one can enjoy a pre-approved limit of up to Rs.4 lakh to bear their healthcare expenses.
- Coverage for the entire family
One of the most significant importance of health cards is that it can be utilised to cover the medical expenses incurred for the cardholder’s entire family, including spouse, parents, children, sibling, etc.
- Wide range of treatments covered
This health care card provides EMI benefits on a wide array of treatment procedures. Some of them include diagnostic care, general surgery, bariatric surgery, stem-cell treatment, vascular surgery, homoeopathy treatment, dental care, ENT treatment, etc.
- Flexible EMI tenor
Individuals satisfying health card criteria can enjoy the liberty of choosing a repayment tenor as per their convenience. Health EMI cards from leading financial institutions come with a tenor of up to 24 months, which can make paying for medical expenses considerably easier.
With such benefits and more, this health EMI card is a useful financial tool to have at one’s disposal. Nonetheless, to enjoy the benefits of this card, individuals must ensure that they comply with the mandated health card eligibility and follow the documentation process carefully.