6 smart ways to lower health insurance premium without losing coverage

2 ‘Super’ top-up plan

A super top-up plan kicks in once your base sum insured is exhausted in a policy year. For instance, with a Rs 5 lakh base policy and an Rs 10 lakh super top-up, a Rs 7 lakh claim will see the base policy pay Rs 5 lakh and the top-up cover the remaining Rs 2 lakh.

Super top-ups are far cheaper than large base policies, making this combination an efficient way to expand coverage without inflating costs.

While top-up plans kick in only when a single claim amount exceeds the deductible or the sum insured available under the basic plan cover, a super top-up plans are triggered when the cumulative claim amount for the year exceeds the deductible.

3 Tap into premium discounts

Insurers offer multiple discounts that can lower premiums by 10–20 percent. There are long-term policy discounts, so choose a two- or three-year policy instead of renewing annually, Jain said.

Family floater discounts are available where multiple members are covered under one plan.

Policyholders are also rewarded if they hold other policies, motor, home, etc, with the same insurer. Lifestyle discounts are given to non-smokers or people with healthy habits. Then cumulative bonus is earned for every claim-free year, reducing renewal costs.

4 Go for regular check-ups

Some insurers offer premium benefits if you maintain a regular health check-up schedule. Early detection of health issues can also help avoid expensive treatments later. There are also wellness benefits provided where one can cut premium by as high as 100 percent by achieving daily targets. For example, Aditya Birla Health Insurance offers up to 100 percent premium back through its HealthReturns feature. Under this, each day one has to walk 10,000 steps or burn 300 calories or hit the gym.  Policyholders who complete 325 days and maintain a heart score are given 100 percent premium back on renewal.

5 Consider porting your policy

Switching insurers at renewal can get you better benefits and rates. “Porting is only allowed during policy renewal and one cannot break the policy midway. The old insurer also needs to be informed at least 45 days before renewal,” Jain said.

Porting a health insurance policy means transferring your existing policy from one insurer to another without losing the benefits you have accumulated, such as the waiting period for pre-existing diseases.

The process allows shifting to a plan that better suits your needs whether for lower premiums, better coverage, or improved services while carrying forward your policy’s benefits.

To port a policy, you typically need to apply to the new insurer at least 45 days before your current policy’s renewal date and the new insurer will assess your application before approval.

But before porting do disclose any illnesses that got diagnosed after taking the old policy, as when you port the policy they are generally considered as pre-existing illnesses and might get excluded from the coverage in the new policy.

6 Opt for a lower room category

Room rent limits directly influence your premium. Charges such as doctor's fees or diagnostic charges are generally related to the room you are in. So, it increases the claim amount. So check your room under the policy as in many cases there is a default setting.

“Many policies default to private rooms, which are costlier. By choosing twin-sharing or multi-sharing accommodation, senior citizens can secure substantial discounts without compromising on care quality,” Jain said.