As per reports published by the IBEF, the healthcare market in India is projected to reach around Rs.8.6 trillion by 2022, and expand to three-fold of its current size. This rapid growth can also be attributed to the increasing emergence of medical tourism in India. The aforementioned data is also evidence of the fact there is a high demand for several medical treatments in India.
Now, to increase the affordability of availing these treatments, leading financial institutions have introduced health EMI card to the market. These cards allow users to convert their medical bills into easy, no-cost EMIs, helping them to foot medical expenses easily.
Following is a list of medical treatments in India, which can be paid for through EMIs with the help of these health cards.
List of medical treatments covered by health cards
The health EMI cards offered by NBFCs like Bajaj Finserv cover several popular medical treatments and procedures in India payable in instalments. Few of them are covered by health insurance policies, while many others are not. Following is a list of such treatments –
Treatments in cardiology
This category includes treatment for both non-invasive as well as AI-enabled cardiac surgeries. Health cardholders can avail the benefits of this card for such cardiac surgeries alongside their auxiliary diagnostic care.
Treatments in orthopaedics
These mostly include surgeries to treat damages in the human musculoskeletal system. Orthopaedic procedures also include seeking care from wellness coaches and physical therapists. Individuals can easily foot their medical bills incurred from hip, knee and joint replacement surgeries by converting them into EMIs with this card.
This category includes surgeries that mostly focus on the human abdomen, including the gall bladder, large and small intestines, thyroid gland, appendix, etc. These are mostly minor surgeries, which are covered under the scope of the health EMI card’s benefits.
Maternity care and fertility treatments
While health insurance policies include maternity care under their coverage, it comes with requisite criteria, which one has to fulfil. Fertility treatments like IVF, on the other hand, are not included under health insurance coverage benefits. However, individuals who satisfy the health card eligibility criteria can easily convert the bills for these treatments and pay them through EMIs.
Critical illness care
These mostly include treatments pertaining to oncology, treatment for stroke, kidney failure, etc., which usually come with hefty bills in their tow. Additionally, most health insurance policies start covering these illnesses after the lapse of a particular period. In this respect, the health card can be an extremely useful tool to bear the financial burden for treating such illnesses on an emergency basis.
Plastic surgery and cosmetic treatment
While it might come as a surprise, plastic surgery and cosmetic treatment are certainly some of the most popular medical procedures in India. The health card extends its benefits to this category and aids users to repay their bills for Rhinoplasty, liposuction, Mammoplasty, facelifts, and the likes with ease.
Root canal treatment, dental implants, fixing skull and craniofacial deformities, etc. fall under the broad category of dental treatment. These health EMI cards cover all such treatments under their benefits.
Treatments in Ophthalmology
Treatment of cataracts, glaucoma, LASIK surgeries as well as cornea transplants, are few of the popular procedures that come under this category. While treatments in Ophthalmology are not very expensive, the health card can make paying for them even easier.
Bariatric surgery/slimming treatments
In recent years, individuals have become more conscious about their health and treating obesity. As a result, bariatric surgeries and other such procedures have become more popular. These are also included under the coverage of health cards.
Apart from these, the expenses for treatments in the fields of ENT, obstetrics and gynaecology, hair transplant, homoeopathy, etc., can also be converted into EMIs with the help of this card.
Who can opt for this card?
The health card eligibility varies from one financial institution to another. For instance, to avail the Bajaj Finserv Health EMI Network Card, one has to –
- Be an existing customer with the NBFC when availing it online. If so, they can directly access the card from the financial institution’s wallet.
- New customers can purchase the card from any of the financial institution’s partner medical facility. They will, however, have to submit their KYC registration and a NACH mandate before they can avail the benefits of this health card.
Upon satisfying these eligibility criteria, individuals can not only avail extensive coverage for the above-mentioned treatment procedures with their health EMI cards but also avail benefits like –
- A pre-approved limit of up to Rs.4 lakh to make payments easily.
- Pan-India validity of the card, which can be swiped at any medical facility across the country.
- A flexible repayment tenor of up to 24 months, within which they will need to make the EMI payments.
- Coverage for the entire family, including spouse, children, parents and siblings.
The card is, thus, extremely useful when it comes to bearing the expenses of popular financial treatments across India. Nonetheless, before you apply for the card, ensure that you are aware of its features and its scope of coverage to make optimum usage.