Definition
Consumables Cover
Consumables cover is a health add-on that pays for non-payable medical consumables such as gloves, syringes, masks and other disposables used during treatment.
A typical hospital bill includes many small consumable items, gloves, cotton, syringes, PPE kits, which standard health policies often classify as non-payable under the IRDAI 'list of excluded items'. These can collectively form a meaningful chunk of the bill.
A consumables (or 'non-medical expenses') add-on covers these items, reducing the policyholder's out-of-pocket gap, especially valuable for long hospital stays or surgeries. It became more popular after the pandemic highlighted how large consumable costs can be.
Related terms
- Sub-LimitA sub-limit is a cap within a health policy on the amount payable for a specific treatment, procedure or expense category, regardless of the overall sum insured.
- Add-On CoverAn add-on (or rider) cover is an optional enhancement bought with a base policy to widen protection for an extra premium.
- Sum Insured (Health)Sum insured is the maximum amount a health (or general) insurer will pay for claims in a policy year, acting as the ceiling on indemnity.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.