Financial Burden of Kidney Treatment and the Importance of Health Insurance

World Kidney Day calls for rising societal awareness for prevention, early detection, and better management of chronic kidney diseases. Based on news reports, the incidence of chronic kidney diseases in India rose by 16.38% during 2018-23. If you know someone who is suffering from kidney-related health problems, read on.

Comprehensive Cost Breakup Of Dialysis

Dialysis is the most common treatment for patients suffering from kidney failure. Here is a breakdown of the average costs of hemodialysis (performed at healthcare centers) and peritoneal dialysis (performed at home):

Additional Costs Associated With Dialysis Treatment

This breakup does not cover the entire cost of treatment. Individuals may have to incur additional costs of laboratory tests (₹500 to ₹2,000 per consultation) and medications such as erythropoietin injections (₹2,000 to ₹5,000) per month. Average hospitalisation costs can range from ₹50,000 to ₹2,00,000 for complications or emergencies.

Rising Healthcare Costs and the Need for Proper Health Insurance Coverage

The recurring nature of kidney treatment, combined with the increasing costs of professional expertise, consumables, and equipment can make it a major financial burden for poor and middle-class families.

Though the Indian government provides coverage of up to ₹5 lakh for eligible families, it is crucial to note that medical healthcare costs in India are rising by 14% annually. Thus, you need to choose the right health insurance policy for yourself which will protect you and your family financially in case of adversity.

How To Select The Right Insurance Policy For Yourself?

1. Choose a policy that provides coverage for kidney transplants and end-stage renal failures. Most importantly, check if the insurer covers medical costs for hemodialysis, as it is generally recommended by doctors.
2. A good healthcare policy should cover miscellaneous expenses (such as medicines, unforeseen costs of hospitalisation, and syringes) of kidney treatment. This is essential, otherwise you may have to pay a heavy bill out-of-pocket.
3. If you reside in a Tier-I city, you can easily avail a cashless claim facility with your insurer’s in-network hospitals. This reduces hassle at a critical time and allows you to focus more on your loved one.
4. Some insurers provide kidney patients additional benefits. This includes benefits for organ donors and an annual health check-up. Moreover, they also provide coverage for alternative treatments and consulting another doctor.
5. Critical illness insurance plans typically provide coverage for the insuree’s dependents. It is always better to compare and choose one that provides adequate protection to your family.

By choosing the appropriate healthcare coverage for yourself, you can secure your financial future. Always clarify ambiguous clauses in the insurance agreement and choose a company that aligns with your needs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.