Health Insurance in Mumbai

Mumbai, the financial capital of India, is a city that never stops moving. From its vibrant culture and food to the endless opportunities, it truly lives up to the title of the “city of dreams.” But life in Mumbai also comes with challenges. It is densely populated, expensive to live in, and healthcare costs can quickly drain your savings. Thus it is essential to have a good health insurance plan in Mumbai for you and your family. With an adequate cover, like ACKO’s ₹1 crore health insurance, you can access quality treatment and focus on your health without worrying about financial stress.

Here is some data about people's overall health in Mumbai.

Additionally, you can avail tax benefits for buying a health insurance plan. This comes under section 80D of the Income Tax Act. You can also make claims for minor medical procedures under the daycare treatment coverage.

Mumbai’s healthcare is among the most expensive in India, so it’s important to choose a health insurance policy that can fully cover your medical expenses. Experts recommend selecting a sum insured that can handle the cost of any major treatment in the city,ideally, at least half of your annual income.

Considering rising medical costs, an individual in Mumbai should have a health insurance plan with a minimum coverage of ₹10 lakh. For families, a family floater policy of ₹30 lakh or more is advisable to ensure everyone is adequately protected.

For older adults, a senior citizen health insurance plan with at least ₹20 lakh coverage is recommended, as age-related illnesses are more common and may require frequent hospital visits or claims.

Non-Resident Indians (NRIs) can purchase health insurance from Indian insurers to stay protected during their visits or stays in Mumbai. Such a policy can cover both planned and unexpected medical expenses, and it remains useful if they decide to move back to India in the future.

NRIs can also buy health insurance for their parents living in Mumbai, ensuring medical expenses are taken care of even from afar. Additionally, premiums paid for these policies are eligible for a tax refund, offering extra financial benefit.

The Maharashtra Government launched the Mahatma Jyotirao Phule Jan Arogya Yojana (MJPJAY) in July 2012 to provide cashless hospitalisation for specific illnesses. While it offers valuable support to beneficiaries, it may not fully cover the high medical expenses in Mumbai.

MJPJAY is helpful for basic medical support, but private health insurance offers broader coverage, higher sum insured, and access to more hospitals, making it a better choice to manage medical costs in Mumbai.

Here are some tips to stay healthy in Mumbai.

Selecting a perfect health insurance policy can be challenging, especially if this is your first plan. However, we've got your back. Here are some helpful tips that will enable you to find an appropriate and reasonably priced policy.

Understand requirements: You may be confused by the variety of health insurance policies offered in the market. Making a list of your needs and then searching for a medical insurance plan is an easy solution. Consider factors like the number of dependents, age, income, medical history, hereditary diseases in the family, etc., and once you have all the information, search for the appropriate coverage.

Check quotes: It is simple to purchase medical coverage online. You can get a potential health insurance quote using tools like a health insurance premium calculator. Then try adjusting the coverage slightly and see if the quote changes. This way, you can purchase a suitable plan by making an informed decision. 

Compare health plans: By comparing plans, you can get a sense of which type of health insurance policies are available in the market. After analysing your options, you may decide which policy is the most suitable for your needs and the budget.

Minimum waiting period: Buying a plan with a minimum waiting period allows you to reduce out-of-pocket expenses during a medical emergency. Thus, it would help to find a policy with no waiting period, like ACKO Health Insurance Policy. Here you get coverage from day 01 for all disclosed health issues.

Understand inclusions and exclusions: Make sure you are always aware of the terms and conditions of the health plan. This comprises the policy's coverages, exclusions, and services as well. You can determine when to make a claim by understanding the coverages and exclusions.

In India, more than 11,500+ hospitals are affiliated with ACKO. Below is the list of notable hospitals in Mumbai where our policyholders can use a cashless facility.

Click here for the complete list of ACKO’s cashless hospitals.