As per a report published in Livemint, India is one of the countries with the lowest spending on healthcare. Consequently, government hospitals and treatment facilities bear the brunt of low funding and are inadequate when it comes to seeking competent treatment. It leads many families to resort to private hospitals and healthcare facilities, where the expenses for treatment are substantial, and in most cases, challenging to afford.
To ease this problem, leading financial institutions across the country have introduced facilities like digital health EMI cards that can significantly reduce the financial burden of paying off hefty medical bills. Nonetheless, before you apply for a health card, it is crucial to learn about its features and benefits, to make optimal use of it.
Following is an elaboration on what such a digital healthcare card entails and how it can make financing medical needs easier for users.
What is a digital health EMI network card?
A health EMI card is a financial tool that allows cardholders to convert their medical bills into easy no-cost EMIs, which can be repaid over a tenor of their choosing. It allows one to break up their medical bills into smaller amounts, significantly reducing their financial burden.
Furthermore, these health cards can be used to pay off the bills of treatments that are otherwise not covered under most health insurance plans.
Features and benefits of a digital health EMI card –
Before they apply for a health card, individuals must be aware of the plethora of benefits that it offers. Following are a few of them –
- A high pre-approved limit
One can avail up to Rs.4 lakh as the pre-approved limit on their health EMI card that can effectively cover the expenses of treatments without hassle. Additionally, the cost of availing this card is extremely low, making it affordable for all.
- Instant activation
The card, once availed, is activated instantly. This makes using it convenient and hassle-free since users can utilise the benefits of the card as soon as they purchase it.
- Pan-India benefits
The benefits of this card can be availed in every city and state in India, allowing users to seek competent healthcare even while travelling. One can use the card at any diagnostic care centre, hospital, dental care clinic, pharmacy, and other such facilities, and opt for EMI payments on the bill generated.
- Wide range of coverage
The benefits of this card are available on a plethora of ailments for medical expense financing – few of which are not covered under health insurance plans. For instance, one can apply for a health card and enjoy its benefits on –
- Diagnostic care
- General surgery
- Bariatric surgery
- Oncology treatment
- Cardiac surgery
- Homeopathic treatments
- Maternity care and IVF treatments
- Slimming centres
- Dental care, etc.
- Coverage for entire family
The benefits of this card can be extended towards a cardholder’s entire family. In this regard, family members can include spouse, parents, children and siblings.
- No documentation requirements
The application process to avail this health card does not require any documentation. One can avail it without undergoing any complicated application process.
- Flexible repayment tenor
Few financial institutions offer a flexible repayment tenor of up to 24 months, within which one can make the EMI payments for the medical treatment availed, as per his/her convenience.
With such benefits and more, this health EMI card is one of the most convenient means to meet the financial requirements of seeking healthcare.
Application process for a digital health EMI card
The application process for this card may vary from one financial institution to another. To avail a Health EMI Network Card, existing users can follow the steps given below –
- Visit the online page for the card at the official website of the financial institution.
- Click on the tab marked “Get it now”.
- Enter the registered contact number and verify your credentials.
- Check available offers and pay a nominal fee to purchase the card.
- After purchasing it successfully, individuals can access their card from their Wallet App with the NBFC.
Those who are not already registered with the financial institution can avail this card from any of its partner medical facilities like a clinic or a hospital.
However, individuals who are not existing customers with the company will have to submit the NACH mandate and KYC documents before they can avail the benefits of the card.
Thus, one can apply for a health card easily by following the steps given above. Nonetheless, before applying, individuals should also take a look through the required eligibility criteria to avail the card to ensure that the process is hassle-free. After availing the card, one can significantly reduce his/her difficulties associated with availing finances to meet medical needs.