In today’s ever-evolving healthcare landscape, having the right health insurance plan is crucial to ensure comprehensive coverage and access to quality medical services. Two prominent health insurance plans, Care Advantage (Care Advantage Health Plan or Care Advantage Plan) and Niva Bupa Health Companion Plan, offer a range of medical facilities designed to meet individuals’ healthcare needs.
Both companies provide coverage for hospitalization, COVID-19, critical illnesses, daycare procedures, ambulance charges, etc. While Care Health Insurance offers cashless hospitalization at 22,900+ network hospitals, Niva Bupa Health Insurance comes with 10,000+ network hospitals.
In this comparison, we will explore the Care Advantage Plan and the Niva Bupa Health Companion Plan, highlighting their key features, benefits, and differences.
Recognizing the Distinctions Between Niva Bupa Health Companion Plan and Care Advantage Plan
Let’s take a look at the differences between Niva Bupa Health Companion Plan and Care Advantage Plan.
| Parameters | Care Advantage Plan | Niva Bupa Health Companion Plan |
| Minimum Age at Entry | Adult- 5 Years and Child- 91 Days (Floater Policy) | New Born- 91 Days |
| Maximum Entry Age | Adult– Lifelong Child- 24 Years | Maximum- No Limit |
| Sum Insured Options | Up to Rs. 600 L (6 Crores) | Up to Rs. 1 Crores |
| Pre-Hospitalisation Expenses | 60 Days | |
| Post-Hospitalisation Expenses | 180 Days | |
| Repatriation of Mortal Remains | Up to Rs. 5 lakhs | NA |
| Ayush Treatment | Up to Sum Insured | Covered |
| Air Ambulance | Up to Rs. 5 lakhs | Air ambulance: up to INR 2,50,000 per hospitalisation |
| Co-Payment | Option to opt 5% / 10% / 15% / 20% per claim, for all customers whose entry age is below 61 years | NA |
| No-Claim Bonus | 10% increase in SI per Policy Year in case of claim-free year; Max up to 50% of SI (10% decrease in SI per Policy Year in case a claim has been paid; Such decrease is only in SI accrued as NCB) | In case of claim free year, increase of 20% of expiring Base Sum Insured in a Policy Year; maximum up to 100% of Base Sum Insured (In case of claim, no reduction in No Claim Bonus) |
| Health Checkup/Services | Health Portal- Healthy tips reminder, etc. Discount Connect-Discounts on services such as consultations, diagnostics, maternity etc at our network | Annual (From Day 1); For defined list of tests; up to INR 500 for every INR 1 Lakh Base Sum Insured (Individual policy: maximum INR 5,000 per Insured; Family Floater policy: maximum INR 10,000 per policy) |
| Organ Donor Cover | Up to Sum Insured | Covered |
| In-patient care | Up to Sum Insured | Covered up to Sum Insured (No Capping on Room Rent) |
What is Care Advantage Plan?
Care Advantage Health Insurance plan is designed to provide extensive coverage, ensuring that the policyholder’s family receives comprehensive protection. It offers numerous benefits, including coverage for organ donation, a no-claim bonus, emergency ambulance services, daycare procedures, and both pre-and post-hospitalization expenses. With various sum insured options ranging from INR 25 Lakh to INR 600 Lakh, the Care Advantage plan allows individuals to select a coverage amount tailored to their specific healthcare requirements. Moreover, the plan can be further personalized with a range of add-on covers, each loaded with distinct features, enabling policyholders to customize their insurance to best suit their needs.
Beyond fundamental medical coverage, the Care Advantage Plan may encompass supplementary benefits and services. These additional offerings might encompass wellness programs, offering discounts, or incentives to encourage a healthy lifestyle. The plan may also provide telemedicine services, enabling individuals to consult with healthcare professionals remotely. Additionally, health management tools may be included to assist individuals in monitoring and tracking their health proactively.
What are the Key Features and Benefits of the Care Advantage Plan?
Here is the complete list of features and benefits offered by the Care Advantage Plan.
- Financial Protection
The Care Advantage Plan provides individuals with financial protection against unexpected medical expenses. By covering a significant portion of medical costs, the plan helps individuals manage the financial impact associated with healthcare services.
- Peace of Mind
With the Care Advantage Plan, individuals can have peace of mind knowing that they have comprehensive health insurance coverage. This can reduce stress and provide reassurance, allowing individuals to focus on their health and well-being.
- Extensive Network of Providers
Care Health Insurance boasts an expansive network comprising over 22,900 healthcare providers, encompassing hospitals, clinics, doctors, specialists, and various healthcare professionals. This extensive network is designed to provide individuals with a diverse array of options when seeking medical services. The broad reach of the network ensures convenience, making it easier for policyholders to find and access suitable healthcare providers for their specific needs.
- Tax Benefits
Policyholders of the Care Advantage plan are eligible to avail tax benefits on the premium paid under the Income Tax Act, Section 80D. This section specifically pertains to deductions related to health insurance premiums. As per Section 80D, individuals can claim deductions for the premium paid towards health insurance policies, including those covering themselves, their spouse, children, and parents.
- Unlimited Automatic Recharge
Care Advantage plan comes with a feature known as “sum insured recharge,” which ensures that the sum insured amount is replenished an unlimited number of times within a policy year in the event it is exhausted due to a claim.
This feature is designed to provide continued financial coverage for medical expenses even after the original sum insured has been utilized. After a claim exhausts the sum insured, the plan automatically reinstates or recharges the sum insured, allowing the policyholder to avail further coverage for medical expenses within the same policy year.
- Pre-hospitalization Expenses
Care Advantage plan provides coverage for medical expenses incurred up to 60 days before an individual is admitted to the hospital. This coverage usually includes various costs such as diagnostic tests, consultations, medications, and other treatments that are part of the pre-hospitalization care.
- Post-hospitalization Expenses
Care Advantage plan provides coverage for medical expenses incurred up to 180 days after an individual is discharged from the hospital. Post-hospitalization coverage typically includes expenses related to follow-up treatments, medications, diagnostic tests, and other necessary medical services that are directly connected to the initial hospitalization.
What is the Niva Bupa Health Companion Plan?
Niva Bupa Health Companion plan, previously recognized as Max Bupa, is a comprehensive health insurance policy that provides coverage for medical expenses, encompassing both pre and post-hospitalization costs, up to Rs1 crore. This insurance policy from Niva Bupa is designed to assist policyholders in effectively managing hospital bills and other medical expenses at an affordable price.
What Unique Features and Benefits Does Niva Bupa Health Companion Plan Offer?
These are as follows:
- Refill Benefit
If you seek a policy that ensures 100% coverage of your minimum sum insured, the Niva Bupa Health Companion plan is the ideal choice. With this policy, in the event that the policyholder’s base sum insured is depleted, the plan provides a refill benefit equivalent to 100% of the base sum insured. This feature offers additional financial protection, ensuring continued coverage for medical expenses even after the base sum insured has been utilized.
- Any Age Enrolment
The Niva Bupa Health Companion plan is accessible to individuals of any age, making it inclusive for people across various life stages. Additionally, the plan allows the inclusion of a newborn, provided the newborn is at least 91 days old, at the time of plan renewal.
- Lifelong Renewability
The Niva Bupa Health Companion plan provides a valuable feature of lifelong renewability without any additional loadings, irrespective of the claim history of the insured person. This means that policyholders have the option to renew the policy indefinitely, ensuring continuous coverage throughout their lives. The absence of extra loadings, regardless of claim history, underscores the plan’s commitment to offering consistent and accessible health insurance coverage.
- No Claim Bonus
The Niva Bupa Health Companion plan offers a No Claim Bonus (NCB) feature where, for each claim-free year, the insured is entitled to receive an increase of 20% in the sum insured at the time of policy renewal. This cumulative benefit can go up to a maximum of 100% of the original sum insured.
- Tax Benefits
Under Section 80D of the Income Tax Act, 1961, individuals can avail of tax benefits by purchasing the Niva Bupa Health Companion plan. Taxpayers are eligible for a deduction of up to Rs. 25,000 from their taxable income for the premium paid towards the health insurance plan. For senior citizens, the permissible deduction limit is increased to Rs. 30,000.
- Pre-hospitalization Medical Expenses
The Niva Bupa Health Companion plan includes coverage for medical expenses incurred up to 60 days before the insured individual is admitted to a hospital. This feature ensures that expenses related to diagnostic tests, consultations, medications, and other necessary medical services leading up to the hospital admission are covered by the insurance plan.
- Post-hospitalization Medical Expenses
The Niva Bupa Health Companion plan extends its coverage to include medical expenses incurred for up to 180 days after the insured individual is discharged from the hospital. This aspect of coverage encompasses various expenses related to the recovery phase after hospitalization. This may include costs associated with follow-up consultations, medications, diagnostic tests, and specific treatments like physiotherapy.
- Vaccination for Animal Bite
The Niva Bupa Health Companion plan includes coverage for vaccination costs incurred due to an animal bite, with a reimbursement limit of up to Rs. 5000, depending on the specific plan variant. This feature is designed to provide financial support for necessary vaccinations that may be required after an animal bite, ensuring that policyholders have assistance in managing associated medical expenses.
- Alternative Treatments
The Niva Bupa Health Companion plan includes coverage for treatments administered through the AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy) system of medicines. This reflects a holistic approach to health coverage by encompassing alternative and traditional forms of treatment alongside conventional medical practices.
- Hospital Cash Benefit
The Niva Bupa Health Companion plan provides a Daily Cash Allowance cover, allowing the policyholder to receive a daily cash allowance during the period of hospitalization. The amount of daily cash allowance ranges from Rs 1000 to Rs 4000 per day, and this benefit is applicable for a maximum of 30 days in a policy year.
Premium Illustration of Care Advantage Plan and Niva Bupa Health Companion Plan
Mr. Harsh Gurjar, a 30-year-old male working in the government sector. While his job provides him with some medical benefits, he recognizes the importance of having additional coverage to protect himself from major medical emergencies. After conducting some research, he came across two potential options: the Care Advantage Plan and the Niva Bupa Health Companion Plan.
With both plans piquing his interest, Mr. Gurjar decides to calculate the premium amounts for each plan to make an informed decision. He uses the online premium calculators provided by both insurance providers to determine the costs associated with the Care Advantage Plan and the Niva Bupa Health Companion Plan.
Care Advantage Plan:
| Gender | Age | Policy Tenure | Health Insurance Cover | Premium Amount (In Rs.) |
| Male | 30 Years | 1 Year | Rs. 50 Lakhs | Rs. 12114 (Premium includes 18% GST) |
Niva Bupa Health Companion Plan:
| Gender | Age | Policy Tenure | Health Insurance Cover | Premium Amount (In Rs.) |
| Male | 30 Years | 1 Year | Rs. 50 Lakhs | Rs. 18, 657 (Premium includes 18% GST) |
Who Comes Out to be the “Best”: Care Advantage Plan or Niva Bupa Health Companion Plan?
Ultimately, choosing between the Care Advantage Plan and the Niva Bupa Health Companion Plan will depend on individual preferences, healthcare needs, and budgetary considerations. While both the Care Advantage Plan and the Niva Bupa Health Companion Plan aim to provide comprehensive health insurance coverage, there are key differences between the two. Care Advantage focuses on delivering a wide range of benefits and services within its established network, while Niva Bupa prioritizes customization and flexibility in plan design. Conducting a thorough assessment of the benefits, coverage limitations, and associated costs is essential to make an informed decision that aligns with one’s specific healthcare requirements.
