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Benefits of health card in your financial Plan

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health card in your financial plan
Benefits of health card in your financial Plan
By admin August 31, 2022
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If you have a financial plan and want to be healthy at the same time, then it is mandatory that you have an insurance policy for your medical expenses. An insurance policy provides you with an opportunity to pay the bills in case you are sick or injured. In addition, health insurance plans may also provide you with cash compensation if you have incurred an accident or illness that has caused permanent damage to your body or was due to negligence.


Benefits of health card in your financial plan


Covers Cost of Medicines


You can get a Health card online for free or subsidized medicines. The government subsidizes the cost of medicines prescribed by registered doctors and pharmacists under the National Health Insurance Act 2011. You may also be entitled to a subsidy on the cost of medicines if you meet certain conditions. For example, you are a full-time student and have limited income, or you are over 65 years old and have a low income.


Ideal for People with Chronic Diseases


Health cards are an ideal way for people with chronic diseases to manage their finances. They provide a way for people to track their health spending, as well as receive tax credits and rebates when they spend money on health products.


People can also use their health cards to access prescription medications from pharmacies, which is particularly useful if you have a chronic disease like diabetes or asthma.

You can also use your health card online to book appointments with specialists or other medical professionals that you would otherwise have difficulty getting appointments with. This is especially useful if you have multiple conditions in one area of the body, such as back problems, which may require different treatments depending on where the problem occurs in your spine or lower back.


You can get reimbursed for any expenses that you incur in the course of your work. You will be able to claim for all the expenses that are incurred on your behalf, even if there is no paper trail. This means that you will not have to worry about whether you have submitted all the required documents or not. Also, there is no limit on the amount of reimbursement that you can get from your employer. This makes it easier for you to manage your finances since you do not have to worry about how much money you are spending on things like food and transport etc


Covers Pre and Post-Hospitalization Expenses


It is important to note that the health card does not cover all costs related to your treatment. However, it does cover many of them and even allows you to receive some form of reimbursement from your insurance company for certain expenses. You can use this benefit to help cover your out-of-pocket expenses for a medical savings plan such as blood tests, doctor’s visits, acupuncture sessions etc. until your deductible has been met or you have reached your out-of-pocket limit.


No Claim Formalities


The first benefit of having a  health insurance card is that it eliminates the need to fill out any claim forms. This saves you time and money as you do not have to wait for your doctor’s appointment, or go through the process of filling out papers and completing other forms. You can also avoid any errors that may occur during the process, such as misspellings or mistakes on your form.


Tax Relaxation


If you don’t have any health insurance, then there may be situations where you will have to pay taxes on medical bills. However, if you have a health card, then this rule does not apply to you at all. The government will reimburse the taxes that were paid by the patient in case of emergency or hospitalization due to any disease or illness. This means that you will save a lot of money from paying taxes on these expenses which otherwise would have been deducted from your salary and added to your income tax bill.


At The End


Affordable health insurance is vital for your medical saving plan. With the rising cost of prescription drugs, healthcare services and procedures, an unexpected hospital visit or accident can wreak havoc on your finances. A health card is aimed at providing exclusive benefits in comparison to health insurance plans. It’s a health safety net that also acts like an investment account. Nobody knows what the future holds, so make sure you’re prepared tomorrow, by learning how you can always be protected today with a health card.