Introduction
“People look to the order of numbers when the world falls apart.”
-A Beautiful Mind
Well, COVID-19 truly proved this quote down to its very last letter. As we witnessed fatalities rise across the globe, all that we could think about was how well are we medically and financially safeguarded to deal with such dire conditions. Subsequently, the health insurance industry witnessed a spike in its popularity.
And as more and more individuals availed of health insurance policies, in the natural order of business, more demand required more supply. And thus, insurers took it upon themselves to bring forth multiple tailored health insurance plans that would cater to the medical and financial requirements of individuals.
Subsequently, prominent health insurance providers have been coming up with such new health insurance policies. Among such new policies is Care Supreme from Care and ReAssure 2.0 from Niva Bupa. Taking into account the equal popularity of the two stables, the similar time of the product launch, and the competitive features that they are bringing to the table, it is only natural that existing and potential policyholders are split between these two.
So, here’s a look at how these plans stand against each other. The Care Supreme vs Niva Bupa ReAssure 2.0 comparison is intended to simplify your choice as per your customised requirement.
A Quick Comparison Chart of Care Supreme vs Niva Bupa ReAssure 2.0
| FEATURES | Care Supreme | Niva Bupa ReAssure 2.0 |
|---|---|---|
| New Features Added | Unlimited Automatic Recharge Unlimited e-Consultations Health Services (Health Portal & Discount Connect) | Lock the Clock ReAssure Forever Booster+ Live Healthy Shared Accommodation Cash Benefit |
| Additions on Sum insured (in-built) | Unlimited Automatic Recharge | ReAssure Forever |
| e-Consultations | UNLIMITED - at network hospitals | UNLIMITED - at network hospitals |
| Pre and post hospitalisation | 60 and 180 days | 60 and 180 days |
| 2nd medical opinion coverage | ✔ | ✔ |
| AYUSH TREATMENT COVERAGE | ✔ | ✔ |
| Room Rent Restrictions | Up to a single private AC room/twin sharing room | Up to a Single Private Room and a Sharing Room |
| ICU charges | No capping | Up to the sum insured |
| Newborn Cover | (available as an add-on) | ✖ |
| Maternity Coverage | ✖ | ✖ |
| In-Built Annual health check-up | ✖ | ✔ |
| AVAILABLE HEALTH INSURANCE ADD-ONS | Smart Select, Instant Cover, New-Born Cover, Plus Benefits, Room Rent Modifications, PED Waiting Period Modifications, Named Ailment Waiting Period, Modifications, Co-Payment, Cumulative Bonus Super, Annual Health Check-Up, Be-Fit Benefit, Wellness Benefit, Air Ambulance Cover,Women Care, Mental Health Well-Being, Claim Shield | Hospital Cash, Personal Accident, Safeguard/Safeguard+, Annual Aggregate Deductible, Co-Payment, PED Waiting Period Modifications, Room Type Modifications |
Care Supreme: All that You Need To Know
Care, previously known as Religare Health Insurance has been reigning the health insurance market in India for some time now. Here’s a look at some numbers that reiterate our statement-
- Claim Settlement Ratio: 95.2%
- Incurred Claim Ratio: 55.15
- Number of network hospitals: 9,400+
- Gross Written Premium (2020- 2021): INR 2,559.75 Cr
With such numbers, a majority of their products are gaining rapid popularity. And it's no different with their new health insurance plan: Care Supreme. Here is a look at the top-notch features that it is offering:
A. Highlighted Features of Care Supreme
IN-BUILT PLAN FEATURES
- Unlimited Automatic Recharge - A surplus amount that is offered up and above the base sum insured.
The amount can only be utilised in case of the exhaustion of the basic sum insured ( + Cumulative Bonus, Cumulative Bonus Super, and Plus Benefit). This additional coverage bandwidth can be used to pay for hospitalisation expenses and road ambulance charges. However, if a section of this surplus amount is unutilised in one year, this balance sum cannot be carried forward to the next year.
- Unlimited e-Consultation - With the Care Supreme package, policyholders will have access to unlimited e-Consultations with general physicians at all the network hospitals across the nation.
The policyholders of Supreme can enjoy their unlimited e-Consultation perks over multiple modes of communication -
- Voice,
- Video Calls,
- Chats,
- Gmail chats, etc.
- Exclusive health services - To boost access to quality healthcare services, the health insurer is offering -
- Health Portal: Convenient access to digital hackers for medical records, healthy tips for reminders, doctors on chat, etc.
- Discount Connect: Special rates are offered to Care Supreme policyholders for diagnostics, maternity, OPD, pharmacy, etc. However, such discounts are only available at the listed partner hospitals.
Apart from the aforementioned exclusive features, this policy also offers the basics -
- Pre and Post hospitalisation coverage (for 60 and 180 days, respectively)
- No room rent restrictions
- Daycare treatment coverage
- Domiciliary coverage
- Advanced technology treatment coverage up to the sum insured.
- AYUSH treatment coverage
- Organ donor coverage
- Road ambulance coverage up to the sum insured
- Cumulative bonus from 50% to 100%\
AVAILABLE HEALTH INSURANCE ADD-ONS
Apart from the convenient and smooth claim settlement promise, there is yet another reason why potential policyholders seek out the best health insurance providers: they also offer the most lucrative buffet of health insurance add-ons. Such add-ons fetch significant financial perks against a nominal charge added to the base plan’s premium amount.
Care’s Supreme plan is no exception. Here is a look at its subsequent add-ons:
Smart Select: A Care Supreme plan add-on whose perks can be banked on at network and non-network hospitals. With this add-on in effect, there is a significant reduction in -
- The premium of the Base plan, and
- The premium of the Optional add-ons (this can include - room rent modifications, named ailment waiting period modifications, Instant cover, Deductible, Co-payment, Newborn cover, Plus benefit, Cumulative Bonus Super, and Air Ambulance Cover)
[Please note that you can read the complete details of these add-ons below]
If you rely on this add-on at non-partner hospitals, you are looking at an additional 20% co-payment that is up and above the existing copay.
In case you approach a partner hospital, no additional copay is applicable.
2. Room rent modifications: By opting for this add-on, one can choose to modify the room rent room category to a single private AC room/twin sharing room as specified in the availed policy schedule.
Additionally, there is no capping on the ICU charge coverage as an additional benefit under this rider.
3. Pre-Existing Disease (PED) waiting period modifications: Waiting periods in health insurance plans are a mandate when it comes to Pre-Existing Diseases. This is designed to safeguard the financial interest of the health insurance provider.
However, in the Care Supreme plan, there is a PED waiting period modification add-on that eradicates or reduces the standard 48-month waiting period. Needless to say, such a huge financial perk comes at a cost. On the other hand, for potential policyholders with PEDs, this is a great insurance power to hold.
4. Named Ailment waiting period modifications: When it comes to the listed, named ailments, there is also an associated waiting period that is suggested by a health insurer.
This period obviously is beneficial for insurers, but not the insured pool. Now, however, with the named ailment waiting period modification add-on, this period can be reduced from its original 24 months.
5. Instant Cover: One of the most crucial and prominent health insurance add-ons available with the Care Supreme policy is Instant Cover. This is also a waiting period waiver rider that applies to certain ailments, namely -
- Diabetes
- Asthma
- Hypertension
- Hyperlipidemia
The aforementioned medical conditions in their pre-existing mode often lead to rejections of health insurance policies or a substantial spike in the premium of the insurance plan due to the added loading charges. However, with the Instant Cover add-on, against a small surge of premium, any adverse consequences can be successfully avoided.
6. Deductible: Availing of this health insurance add-on would offer policyholders a significant financial edge.
Let’s say, a policyholder avails of this add-on. Now, if he/she raises a claim, the insurer would be liable to pay a claim only when the claim amount exceeds the deductible sum. Here’s an example to understand this better -
| Sum Insured (SI) = INR 20,00,000 | Deductible = INR 10,00,000 | ||
| Across 1-year | Payment via Deductible | Payment by Insurer | Balance SI (provided there is no partial restoration feature added to the plan) |
|---|---|---|---|
| 1st CLAIM = INR 7,00,000 | INR 7,00,000 | 0 | INR 20,00,000 |
| 2nd CLAIM = INR 10,00,000 | INR 10,00,000 | 0 | INR 20,00,000 |
| 3rd CLAIM = INR 12,00,000 (claim amount has exceeded the deductible sum. So the additional amount will be paid off by the insurer) | INR 10,00,000 | INR 2,00,000 | INR 18,00,000 |
7. Co-Payment: This add-on is like the others available across the market. It offers policyholders the choice to opt for a co-payment option. However, while this might reduce your premium payable significantly, paying off a percentage of the hospital invoice during each claim is a pricey affair. And the latter outweighs the financial edge offered by the reduced premium aspect.
However, in certain boundary cases, when and if the potential policyholder finds that insurers are reluctant to offer them a plan without the mandatory copayment option, then it’s best to take up the copay. At least in this case, they will have a financial security net in the form of the best health insurance plans across the market, during times of medical distress.
8. Newborn Cover: For those seeking/scouring for a maternity health insurance plan that would also lend coverage to their newborn from Day 1, this is the perfect health insurance rider.
Rather than seeking a standalone plan, they can opt for Care Supreme and opt for this rider. While there is a waiting period associated with this rider, the premium is pro-rated for the exposure period only and covers a newborn right from Day 1.
9. Plus benefit: With the Plus Benefit rider on the Care Supreme plan, a surplus amount is offered to the policyholders that are up and above the base sum insured.
This amount can only be used once the base sum is exhausted and so are any and all amounts added by the Cumulative Bonus and Cumulative Bonus Super. This surplus amount is applicable only on the base amount and any residual amount left across 1 policy year from the Plus Benefit is not carried forward to the next year. And the Plus Benefit amount can be utilized for any number of claims raised across a year.
10. Cumulative Bonus Super: The standard Cumulative Bonus on the Care Supreme policy is a minimum of 50% and a maximum of 100%.
However, in case you are looking at boosting your No-Claim Bonus by a larger % to help boost your current coverage bandwidth, Cumulative Bonus Super is the way ahead. This rider offers a No Claim Bonus boost of a flat 100% and up to a maximum of 500% of the base sum insured.
NOTE: In the case of Cumulative Bonus Super, the Recharge amount is not taken into consideration.
11. Annual health checkup: With the annual health check-up rider, policyholders can enjoy a complete medical check-up once a year at any of their specified network hospitals.
This service in no way affects the sum insured of an individual and is available in the cashless mode only.
11. Be-Fit benefits: Under the Be-Fit Benefits add-on, any policyholder who is 12 years and older can enjoy unlimited visits to the fitness centers at the network facilities of the health insurance provider.
12. Wellness benefit: For policyholders of and above 18 years of age, this rider is a huge plus. Under the Wellness Benefit add-on, one can enjoy significant financial perks over discounts on the premium payable by an accumulation of Healthy Days.
Healthy Day is equal to 10,000 steps that are checked via tracking apps, devices, etc with CHIL integration. Here is a look at the discount chart on the premium to be paid -
| Number of Healthy Days | Discount on the Premium Payable |
|---|---|
| 270 days | 30% |
| 240 days | 20% |
| 180 days | 15% |
| 120 days | 10% |
| Less than 120 days | 0% |
13. Air Ambulance cover: During times of medical emergencies, air ambulances are a sign of relief that guarantees quick access to quality health care services and might often be a lifesaver. However, such services aren’t really inexpensive.
In such cases, the air ambulance cover comes as a respite. It is usually available over the cashless mode. However, in the case of life-threatening medical conditions, the insurance provider allows the reimbursement mode as well. All that a policyholder needs to do is submit the additional documents within a maximum of 30 days of availing of this perk.
14. Women Care: Under the Care Supreme plan, Out-Patient Medical Expenses are indemnified by the insurer via cashless mode for -
- Mammography,
- PCOS/PCOD diagnostic tests, and
- Cervical cancer screening
-provided the woman policyholder is 18 years and above, and up to the sum insured limit specified in the availed policy.
15. Mental Health Well-being: Care’s new health insurance policy also extends its coverage to some specific psychological ailments. Up to a certain limit, the plan offers coverage over cashless mode for the consultation, counseling, and rehabilitation of mental ailments like -
- Post Traumatic Stress Disorder (PTSD)
- Acute Depression
- Obsessive-Compulsive Disorder (OCD)
- Anxiety
Considering how finding health insurance plans for mental ailments is a tricky business, such add-ons can become a blessing.
16. Claim Shield: The Claim Shield Care Supreme add-on is a crucial rider.
As you know, consumable products during hospitalisation are categorised into non-payables during health insurance coverage. And policyholders end up paying for this out of their pocket. Since such consumables amount to almost 5% of the hospital invoice, hence, a rider like Claim Shield becomes crucial. Upto the assigned sum insured, the cost for such consumables is covered by health insurers if this rider is availed by a policyholder.
While the in-built features of the Care Supreme plan and its diverse range of optional riders already throw ample light on the reasons why this policy is gaining rapid popularity, there is another aspect that you need to consider.
With the
- Unlimited Automatic Recharge as a built-in feature and
- Cumulative Bonus Super and Plus Benefits are available as optional riders,
-a policyholder can conveniently opt for a smaller base cover yielding a smaller premium amount and then opt for the riders to boost the bandwidth. This would mean a lower financial burden on the policyholder and yet having access to substantial medical and financial benefits.
On the other hand, no health insurance plan comes without at least a slight silver lining. Acknowledging this silver lining would help you, as potential and existing policyholders, to know if you should avail of or even opt for health insurance portability to this plan.
B. Cons of Care Supreme Health Insurance Plan
- Absence of an inflation shield - Inflation cost across the medical industry is a serious consideration that should have been taken into account. Unlike in the case of other Care health insurance products that come with a rider called the Care Shield that includes Inflation Shield, the Care Supreme policy misses out on this. This leaves the premium vulnerable to inflation, which ensures a significant spike in the amount.
- Free annual health check-up missing as an inbuilt perk - With standard health insurance policies, there is a free annual health check-up available for the policyholders. However, in this case, the annual check-up is available over a health insurance add-on.
- Missing coverage for maternity-related health complications - While the Care Supreme plan has a rider for Newborn coverage, there is nothing available for maternity health issues that would lend coverage to the would-be mother regarding ailments like miscarriage, infertility treatment, gestational diabetes, etc.
Now let’s take a look at Niva Bupa’s new health insurance product - a revised version of their existing policy: ReAssure (the flagship health insurance product from Niva Bupa). And we can then compare Care Supreme vs Niva Bupa ReAssure 2.0!
Niva Bupa ReAssure 2.0: A Look at the New Launch
Niva Bupa’s reputation and popularity among health insurance policyholders is a result of their excellent product built-up and feature line. And here is a look at the numbers that add to their credibility -
- Claim Settlement Ratio: 90.68%
- Incurred Claim Ratio: 56.09
- Number of network hospitals: 9,100+
- Gross Written Premium (2020- 2021): INR 1,750.78 Cr
Under such circumstances, when this reputed health insurer decided to one-up its flagship health insurance product, the industry’s interest was piqued. And thus, here is a look at the new features offered by the updated product: ReAssure 2.0 -
A. Highlighted features of Niva Bupa ReAssure 2.0
IN-BUILT PLAN FEATURES
Apart from the standard features and the fact that the coverage can be used for cases with less than 24 hours of hospitalisation (the minimum is 2 hours of hospitalisation), here are the advanced features that ReAssure 2.0 offers -
(i) Lock the Clock - An exclusive and one-time perk, the Lock the Clock feature is a major financial perk. Under this, the entry age of a policyholder is locked for premium calculation. However, this is true only till the first claim is raised across the policy tenure. As soon as the first claim is raised, the premium amount is tuned as per the then age of the policyholder.
So, let’s say that a policyholder avails of Niva Bupa ReAssure 2.0 when he/she is 20 years old. However, he raises his first claim when he is 25. In that case, from 20 to 25, the premium remains the same - as calculated when he availed of the plan at age 20. No spike in premium occurs apart from the annual, scheduled price boost.
When he raises 1st claim at 25, the following year, during the health insurance policy renewal, his premium gets tuned as per the insurer/IRDAI-set age slab. And henceforth, the premium keeps getting spiked as per the age of the individual.
(ii) ReAssure Forever/ ReAssure X - An in-built feature of the plan, this is a highlight perk of ReAssure 2.0. ReAssure X or 2.0 is a feature in which, the moment the first claim is raised across an entire policy tenure, the perk is triggered and it stays triggered for the entire policy life.
PLEASE NOTE: In Niva Bupa ReAssure plan, the ReAssure perk has to be triggered once a year by raising a claim and the trigger stays for a single policy year. This is one of the distinguishing features between ReAssure and ReAssure 2.0.
The perk is actually a substantial amount (up to the base sum insured) that is added on and above the base SI.
Provided the policy is renewed without a break, this perk stays intact and this amount can be restored an unlimited number of times without a cooling period between claims/triggers.
However, the unutilised ReAssure Forever amount is not carried forward to the next policy term.
(iii) Booster+ - For ReAssure 2.0, the Booster+ feature is a unique feature across the industry. Under this benefit, the unutilised sum insured for one year is carried forward to the next year and is added to the base amount.
The capping on the maximum Booster+ amount is based on the variant that a policyholder opts for -
- Platinum: Maximum 5 times the sum insured.
- Titanium: Maximum 10 times the sum insured.
So. let’s look at the combination of Booster+ and ReAssure Forever perks to understand how this works -
(iv) Live Healthy Bonus - Under the Live Healthy bonus, policyholders can enjoy up to 30% discount on Individual health insurance plans and up to 15% discount on Family floater health insurance policies on the premium during policy renewal.
The offered discount is based on the Health points acquired over the steps that policyholders have walked daily. 1000 steps account for 1 Health Point. The steps are calculated via assigned apps.
(v) Organ Donation Coverage -
- Any and all costs related to the Recipient during organ donation are covered under the Niva Bupa ReAssure 2.0 policy.
- However, in the case of the Donor, only the cost of organ harvesting is covered under this plan. On the other hand, if the Donor has availed of ReAssure 2.0 policy, the cost of pre and post-hospitalisation is also covered.
(v) Ambulance Cost Coverage - The below-mentioned costs are only covered by the health insurer if the hospitalisation claim is paid by the insurer and if the policyholder has opted for registered ambulance/air ambulance providers.
- Road Ambulance: Coverage offered up to the base sum insured.
- Air Ambulance: Offered only in the case of Emergency and the coverage is capped at INR 2.5L/hospitalisation.
(vi) Domiciliary Coverage - Under this, pre and post hospitalisation expenses are covered for the domiciliary treatment. Coverage is also provided for peritoneal dialysis and chemotherapy if it has been offered at home. However, no coverage is offered for the medical and ambulatory devices that are used during home treatment.
(vii) Cash Benefits over Shared Accommodations - In case a policyholder opts for shared accommodations during their hospitalisation (except in the case of General admission and ICU beds), an additional amount is paid to the family of the policyholder for each day of hospitalisation.
(viii) Annual Health Check-up - Annual health check-ups are a part of the in-built features in ReAssure 2.0 and the covered costs extend up to a specified sub-limit. In this perk, only the cashless mode can be availed and the coverage extends only to diagnostic tests.
(ix) e-Consultation Coverage - Under the ReAssure 2.0 plan, policyholders can enjoy convenient access to e-Consultation with general physicians at partner hospitals
(x) 2nd Medical Opinion Coverage - Policyholders have unlimited coverage for 2nd medical opinions on the current medical conditions at network medical facilities.
(xi) Modern Treatment Coverage - Modern treatments like Robotic surgeries are covered up to a capped amount of INR 1 lakh per claim.
AVAILABLE HEALTH INSURANCE ADD-ONS
- Hospital Cash - Upon hospitalisation, the insured individual’s family is paid a certain sum for a maximum of 30 days.
This hospital cash amount is targeted at funding the miscellaneous expenses of the family during the temporary absence of the breadwinner of the family. The only condition, in this case, is that the policyholder has to have 48 hours of continuous hospitalisation.
2. Personal Accident - Only offered in the case that the health insurance plan proposer is in an accident.
- CASE 1: In the event of death - Up to 5 times the sum insured is offered to the nominee in the plan.
- CASE 2: In the event of permanent/total disability - Up to 125 times the base sum insured is offered. The maximum amount offered is capped at INR 1 Crore.
- CASE 3: In the event of temporary/partial disability - The maximum amount offered is capped at INR 1 Crore.
(*For Case2 and 3, the claims can be raised multiple times till the sum insured is exhausted.)
(*To enjoy the perks of Personal Accident Rider, the policyholder needs to submit their Income proof documents.)
3. Safeguard / Safeguard+ - This health insurance add-on is a combination of Booster shield against claims and coverage for consumables. The variants across this rider are -
- Safeguard: Ensures that the Booster+ amount is safeguarded when the raised claim is lower than INR 50k.
- Safeguard+: Ensures that the Booster+ amount is safeguarded when the raised claim is lower than INR 1L. However, there is an associated waiting period of 30 days.
(*To avail of the benefits of the Safeguard/Safeguard+ add-on, there is no need to be hospitalised for a minimum of 24 hours.
*The hospitalisation should be medically essential.
*Mandatory documentation required include - in-patient file and discharge card.)
4. Co-Payment - Policyholders can opt for a voluntary co-payment on each claim raised. With this rider, policyholders can expect a drop in their premiums. However, this is still not a wise financial decision because the policyholder will be liable to bear a substantial impact on one’s savings while paying the bills during each claim.
(*Once a policyholder has chosen the % of copay, this share cannot be reduced.)
5. Pre-Existing Disease Waiting Period Modification - This add-on helps reduce/eradicate the assigned waiting period for pre-existing ailments.
6. Room Type Modification - Under this health insurance rider, you can choose between the best-possible options of a Single Private Room and a Sharing Room. However, once a policyholder has chosen their option, it cannot be changed. Also, irrespective of the room type you choose, the ICU charges are capped at up to the base sum insured amount.
The Lock the Clock feature and the Reassure Forever features have made the Niva Bupa ReAssure 2.0 policy a unique, industry-first health insurance plan. Also, this plan takes out the auto-split aspect from the health insurance policy by not mandating that after a child turns 30, he/she needs to get out of their family floater health insurance plan. He/She can choose to stay on with the floater plan with their parents.
However, if they get married and need a plan for their spouse, it has to be a different plan because parents and spouses aren’t admissible in the same ReAssure 2.0 plan.
However, the plan has also brought in a couple of downsides with it. Here’s a quick look at them -
B. Cons of Niva Bupa ReAssure 2.0 Health Insurance Plan
- No Inflation shield - Medical inflation is a real financial downer and yet an inevitable reality. Under such circumstances, missing out on an Inflation Shield is a major concern.
Niva Bupa’s Protector rider that combined No-Claim Shield, coverage for consumables, and Inflation Shield is heavily missed. While the first 2 have still been covered via different health insurance add-ons, the Inflation Shield seems to have fallen out of the table.
- The mandatory presence of the proposer in the plan - The proposer of the health insurance plan has to necessarily be in the policy. One cannot purchase a Niva Bupa ReAssure 2.0 plan for somebody else.
- Exclusion of Maternity Benefits - No coverage is provided for would-be mothers and health complications related to pregnancy.
Conclusion
In terms of giving you an FnF (Full and Final) statement regarding “Care Supreme vs Niva Bupa ReAssure 2.0: which should you opt for?”, we would suggest you look into the premium calculation of both plans and compare the other features too over our Free Health Insurance Comparison Tool.
Based on this you can decide which plan best caters to your financial and medical goals. You can also reach out to unbiased health insurance experts who would guide you towards the right product based on your criteria.