Introduction
Before we start comparing these two policies we have to set out some ground rules.
Both products are marketed by different insurance companies. Care is sold by Care and iHealth Plus is sold by ICICI Lombard. So any meaningful comparison should include a comparison of the product alongside the insurers themselves.
Second, we know that both products have subtle differences in their core structure. Care is reasonably comprehensive. Sure, it doesn’t have all the bells and whistles, but it also doesn’t impose any mindless restrictions. iHealth Plus, meanwhile, is a relatively expensive premium policy tailored to cover as many use cases as possible. So while the differences in features may be subtle, the pricing could be drastically different depending on the cover amount you pick.
And finally, any comparison is ultimately futile without considering the use case. Who are you buying this policy for? You, your family, your parents?
That’s something you’ll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the actual policies themselves.
Let’s start with Care. The product comes from Care’s stable:
Care Health Insurance (formerly Religare Health Insurance) was founded in 2012. And in that time, they’ve managed to corner a large part of the Indian Insurance market.
What’s more impressive?
Care Health Insurance has a remarkable claim settlement ratio of 90% and a network of more than 11,400+ hospitals.
iHealth Plus meanwhile comes from ICICI Lombard’s stable:
ICICI Lombard Health Insurance company is a joint venture between India's ICICI Bank and Canada's Fairfax Holdings. They are one of the leading insurance companies with over 270 branches spread across India.
However, with a claim settlement ratio of 85% and a measly network of 7,500+ hospitals, their performance needs significant improvement.
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Compare Insurances Insurance Parameters Recommended Not Recommended |  Care |  iHealth Plus |
|---|---|---|
| Network hospitals | 11,400+ | 7,500+ |
| Claim settlement ratio (avg. of last 3 years) | 90% | 85% |
| Co-payment | 20% (if purchased after turning 61) | No |
| Room rent | Single Private room | Any Room |
| Disease sub-limit | No | Yes |
| Pre existing diseases waiting | 3 years | 2 years |
| Pre/Post hospitalization | 30/60 days | 30/60 days |
| No claim bonus | 10% per year (up to 50%) | 10% per year (up to 50%) |
| Domiciliary | ||
| Ayush treatments | ||
| Restoration benefit | 100% restoration (once for any illness) | 100% restoration (once for different illness) |
| Health check-up | Once every year | Once every year |
| Maternity | Available (up to ₹1,00,000 after 2 years) | Available (up to ₹50,000 after 3 years) |
| Out Patient Department | Up to ₹5,000 (Annually) | |
| Day care |
Feature Comparison
Co payment
With a co-payment clause, the insurer will mandate that you pay a part of the bill. So if the bill adds up to Rs. 2,00,000 and the co-payment is set at 20% then you could be asked to pay Rs. 40,000 from the bill. In this case, however, Care requires you to co-pay a part of the bill 20% if you purchase after turning 61 whereas iHealth Plus doesn’t impose a co-payment clause
Room rent
If the policy does impose room rent restrictions then the insurer may only let you stay in a room of a certain specification or impose a cap on the total room rent. If you were to breach either criterion then the insurance company may ask you to pay a portion of all the expenses you incurred while staying in the room. In this case, however, Care only lets you stay in a single private room but you can pick any room you want with iHealth Plus.
Sub limits
Some policies will tell you that they will cover all medical expenses up until the sum insured, but then impose caps on the total costs you can incur while dealing with a very specific list of diseases. We call these caps “Disease Wise Sub Limits.” In this case, Care doesn’t impose a disease wise sub-limit whereas iHealth Plus imposes disease-wise sub-limits on Cataracts.
Waiting periods for pre-existing diseases
If you’re suffering from a lifestyle condition or if you’ve had surgery in the past, or if you’re dealing with an acute or chronic illness at the time of buying the policy, then the insurer may classify this as a pre-existing disease. And they may tell you that they will only cover these illnesses after some time. In this case, Care imposes a waiting period of 3 years on pre-existing diseases while iHealth Plus extends a waiting period of 2 years on existing conditions.
Pre and post Hospitalization expenses
Most people aren’t hospitalized right off the bat. Instead, they’ll have to go through a whole series of diagnostic tests before hospitalization and take medication post-discharge. These costs are outlined as pre-hospitalization expenses and post-hospitalization expenses respectively. In this case, Care covers expenses incurred 30 days before hospitalization and expenses incurred 60 days post-hospitalization. Meanwhile, iHealth Plus covers expenses incurred 30 days before hospitalization and expenses incurred 60 after hospitalization, although there may be different sub-limits
No claim bonus
Some policies will tell you that they will incentivize you for not making a claim in any given year. And they offer such incentives by offering extra cover on top of the existing sum insured. This extra cover is categorized as a no-claim bonus. And in this case, Care offers a no-claim bonus of 10% and iHealth Plus similarly extends a 10% no-claim bonus.
Domiciliary
Imagine you are forced to treat yourself at home because you don’t find a hospital bed, or you have a chronic condition that prevents you from visiting one, then, insurers may choose to cover your treatment even if you’re hospitalized at home. And such costs are collectively categorized as domiciliary treatment costs. In this case, however, Care offers domiciliary cover whereas iHealth Plus doesn’t offer domiciliary protection.
Ayush treatments
Most policies only cover treatments administered in a registered medical facility. However, on some occasions, you may want to pursue alternative treatments including homoeopathy, Ayurveda, Unani and Siddha. These treatments are collectively categorized as Ayush treatments. And in this case, Care covers Ayush procedures and iHealth Plus also extends coverage for Ayush treatments.
Maternity benefits
If you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization. These costs are collectively termed maternity costs. And in this case, Care offers maternity cover and iHealth Plus offers maternity cover too, although the sub-limits for normal delivery and C-section procedures may be different, including the waiting period.
Out Patient Department (OPD)
Doctor visits and regular consultations aren’t usually covered by health insurance policies. They are categorized as Outpatient consultations (or OPD treatments) and patients have to bear the cost on their own. In this case, however, Care doesn’t offer OPD protection whereas iHealth Plus offers OPD cover.
Final Conclusion
It should be obvious that iHealth Plus offers better protection and extends a whole host of benefits that Care simply doesn’t offer. But considering ICICI Lombard has a claim settlement ratio that can only be considered sub-par at best, we would still recommend going with anything that Care has to offer.
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