Group Medical Insurance
Origins of the Veer Mitra Society (VMS) and the Group Health Insurance Scheme
The Veer Mitra Society (VMS) was established as a result of thoughtful discussions among the naval course mates of the 18th Integrated Course of the Indian Navy and the 56th Course of the National Defence Academy. Recognising the urgent need for a comprehensive Veteran’s Welfare Scheme, these course mates focused their conversations on critical issues surrounding medical insurance and the overall welfare of senior veterans, particularly in relation to the complexities associated with the Ex-servicemen Contributory Health Scheme (ECHS).
During these discussions, Sudha Ramanujam, an experienced insurance professional, emphasised the escalating costs of medical insurance, which were projected to rise by as much as 100% over the subsequent five years. This alarming trend, combined with the increasing longevity of the veteran population, raised significant concerns about the potential strain on ECHS services.
Given that some members were already holding individual retail insurance policies, an opportunity arose to create a focused group health insurance scheme tailored to their demographic. The relatively younger age profile of the members from the 18th IC and 56th NDA courses inspired a peer-oriented approach aimed at negotiating lower premiums. This initiative intended to devise insurance products that could exclude certain liabilities below a specified amount, thereby relieving some burden from the existing ECHS coverage.
To assess the feasibility of a cohesive group insurance plan with enhanced benefits, a demographic survey was conducted to gather detailed information on the age profiles of group members and potential beneficiaries, including dependants such as parents, in-laws, children, and grandchildren. This initiative aimed to evaluate the possibility of establishing a cost-effective insurance scheme that would serve both the core veterans and their extended family members.
With the gathered demographic data, Sudha approached potential insurers to obtain quotes and assess the viability of a tailored group insurance scheme for the peer group. Following this analysis, concrete proposals were developed for discussion at a course gathering in Lonavala in November 2023
Veer Mitra Society is establishing a group medical insurance scheme offering:
Comprehensive coverage: Tailored to the specific needs of veterans and their families.
Affordable premiums: Achieved through collective bargaining power.
Convenient access: A wide network of hospitals and healthcare providers.
Further details on eligibility, coverage, and enrolment will be announced shortly.
Become a Member Today
Join Veer Mitra Society and become part of a growing community that honours and supports its veterans. If you are a veteran or a family member, you can benefit from our welfare programs.
Veer Mitra Society's Group Medical Insurance: Your Advantage
As a Veer Mitra Society member, you benefit from a group medical insurance plan offering:
Lower Premiums: Group plans typically offer lower premiums due to economies of scale.
Tailored Coverage: Our plan specifically addresses the healthcare needs of veterans and their families.
Extensive Network: Access to a broad network of hospitals for cashless treatment and convenient care.
The Insurance Regulatory and Development Authority of India (IRDA) sets standards to protect policyholders. Key benefits guaranteed under IRDA regulations include:
Standard Coverage: Clear outlines of covered treatments, including hospitalisation, surgeries, and potentially maternity care or critical illness benefits.
Cashless Hospitalisation: Many policies offer cashless options at network hospitals
Lifelong Renewability: The ability to renew coverage indefinitely, provided premiums are paid.
Free Look Period: A 15-day period to review and cancel the policy for a full refund.
No Claim Bonus: Rewards for claim-free years with increased coverage or reduced premiums.
Portability: Ability to switch insurers without losing accrued benefits like waiting periods for pre-existing conditions.
Understanding Health Insurance
Health insurance is your financial safety net against the high costs of medical care. For a regular premium payment, your insurer covers your medical expenses, up to a pre-defined limit. This protection safeguards your savings from unexpected medical emergencies, hospitalisations, and treatments.
Why Choose Health Insurance?
Protects Your Savings: Avoid depleting your savings to cover expensive medical bills.
Covers Hospitalisation: Insurance typically covers room charges, surgeries, medications, and treatments. Many policies even offer cashless hospitalisation at network facilities.
Pre- and Post-Hospitalisation Expenses: Coverage extends beyond your hospital stay to include pre- and post-hospitalisation care, such as doctor visits and tests.
Preventive Care: Some plans include coverage for check-ups and
vaccinations, promoting proactive health management.
Veer Mitra Society's Group Medical Insurance Plan
The Veer Mitra Society is pleased to offer a group medical insurance plan designed to complement your ECHS coverage. This plan provides an additional layer of financial protection, bridging potential gaps in coverage and offering:
Increased coverage limits
Wider hospital network access
Cashless hospitalisation options
Peace of mind for your family
Conclusion
While ECHS provides a strong foundation, supplemental insurance provides essential additional security. The Veer Mitra Society's Group Medical Insurance plan offers a cost-effective way to enhance your healthcare coverage and secure your financial well-being. Consider taking this additional step to secure your and your family's future health. Why Consider Additional Health Cover Beyond ECHS?
The Ex-Servicemen Contributory Health Scheme (ECHS) offers valuable healthcare benefits to veterans and their dependents. However, several factors suggest the value of supplemental health insurance alongside ECHS:
1. Limited Network: ECHS's network of empanelled hospitals may be limited in certain areas, restricting access to convenient or specialised care. Private health insurance expands your options significantly.
2. Faster Access: Demand on ECHS facilities can lead to treatment delays. Supplemental insurance enables quicker access to care at private hospitals.
3. Expanded Coverage: ECHS may not cover all treatments, especially advanced procedures or specialised therapies. Additional insurance helps bridge these gaps.
4. Critical Illness Support: Many supplemental policies offer lump-sum payments for critical illnesses (cancer, stroke, etc.), providing crucial financial assistance beyond ECHS coverage.
5. Higher Coverage Limits: Major medical events can exceed ECHS coverage limits. Supplemental insurance offers a crucial safety net for high-cost treatments.
6. Cashless Hospitalisation: Cashless treatment at private hospitals, a common feature of private health insurance, provides added convenience and flexibility.
7. Family Protection: While ECHS covers dependents, additional insurance extends this security, especially as dependents age or require treatments beyond ECHS coverage.
1. Emergency Surgery Covered by Health Insurance
Case: Rajesh, a retired army officer, suffered from a sudden and severe abdominal pain. After rushing to the hospital, he was diagnosed with acute appendicitis and needed immediate surgery. Although he had access to ECHS, the nearest empanelled hospital was several hours away, and any delay would have been dangerous. Thankfully, Mr. Rajesh had additional health insurance through his group policy.
Benefit:
The health insurance allowed him to receive cashless treatment at a private hospital close to home.
His policy covered the entire cost of the surgery, including pre-hospitalisation tests and post-surgery recovery.
Without the additional health insurance, he might have had to either pay out-of-pocket or travel a great distance for treatment.
2. Critical Illness Protection
Case: Meera, a dependent under her husband’s ECHS, was diagnosed with breast cancer. While ECHS provided coverage for her initial treatments, including surgery and chemotherapy, the family realized that the long-term care and specialized therapies she needed would be extremely expensive. They had taken an additional critical illness policy as part of a group health insurance plan.
Benefit:
The critical illness coverage provided a lump-sum payment when Meera was diagnosed with cancer.
This money was used for extra costs not covered by ECHS, such as advanced treatment options and special medications, helping the family avoid financial stress during a difficult time.
The policy gave the family flexibility to seek treatments from private hospitals with
shorter waiting times and advanced facilities.
3. Coverage for Expensive Hospitalisation
Case: Ajay, a veteran, was admitted to the hospital due to a heart condition that required a bypass surgery. The total cost of the surgery, hospitalization, and post-operative care amounted to several lakhs of rupees. While ECHS covered a significant portion of the costs at an empanelled hospital, there were additional expenses that were not covered, such as certain advanced diagnostic tests and medicines.
Benefit:
His additional group health insurance policy through his veterans’ association covered these extra costs, ensuring his savings remained intact.
The health insurance also provided a no-claim bonus from previous years, giving him an even higher coverage limit.
4. Healthcare for Non-Covered Treatments
Case: Anjali, the spouse of a veteran, developed a chronic back issue that required physiotherapy and ongoing rehabilitation. Unfortunately, ECHS didn’t cover the full course of her rehabilitation, and the continuous therapy sessions started becoming expensive. Fortunately, Anjali had health insurance through a group plan offered by her husband’s veterans' welfare society.
Benefit:
The additional insurance covered her rehabilitation costs under outpatient treatment, something that wouldn’t have been fully covered by ECHS.
This allowed her to continue her treatment without
worrying about the financial burden, ensuring a full recovery.
5. Medical Expenses in Old Age
Case: Sharma, a retired navy veteran, had been healthy throughout his service years. However, after retirement, he developed kidney problems and needed regular dialysis. While ECHS provided coverage for the procedure at empanelled hospitals, Sharma had to frequently travel long distances to avail the services.
Benefit: