Magazine : 
Cashless Health Insurance Policy: Everything You Should Know About
Almost every insurance company has a tie-up with a wide range of hospitals in India, both private and government ones. Insurance companies try to build a vast network of hospitals to provide cashless treatment coverage to their valued policyholders. By purchasing cashless hospitalisation insurance, one can avail of medical treatments without paying any cash so buy health insurance now.
Read below to explore more about its advantages and other aspects associated.
Importance of Cashless Health Insurance Plan
Under this policy, your medical bills will be settled between your insurance provider and the hospital. There are different types of cashless health insurance policies in India, like individual health insurance plans, family insurance plans, group health plans, and many more.
In emergencies, these policies can be very beneficial by safeguarding you from any unforeseen financial strain related to your health. Besides, Due to high inflation in India, every aspect of one's life, including healthcare is being affected and the cost is rising each day. Such a plan will act as a financial shield during the times of medical emergencies. In today's digitally advanced world, the claim process has become convenient and time-efficient. So, buying a cashless health insurance policy to get comprehensive coverage from your insurer will be a wise decision.
What are the Inclusions of a Cashless Health Insurance?
You must note that every health insurance company provides different inclusions with their cashless health insurance plan. In the section below, you will learn about some basic inclusions of this type of health plan.
- Room Rent Charges (during hospitalisation)
- Physician’s Fee
- Surgery Expenses
- Medicine Cost
- Domestic Test Charges
- Pre and Post-hospitalisation Coverage
- Day Care Treatment
- Ambulance Cost
Note: Make sure to compare the inclusions, along with the exclusions of varied insurance providers to choose the best-suited one.
How to Avail Cashless Health Insurance Policy?
Just imagine, your loved one is admitted to a hospital, and despite having a cashless health insurance plan, you know nothing about how to claim it from your insurer. Sounds distressing, right? That is why, have a look into the below-mentioned steps on how one can avail a cashless health insurance plan in a time of need.
Step 1: You have to start by choosing the hospital from the list of insurer's networks.
Step 2: You have to let your insurance company know about the planned hospitalisation, at least 48 hours before admission. Along with that, you have to inform the insurer about the name of the chosen hospital and policy details.
Step 3: Afterwards, the insurance provider will go through your request and communicate with the hospital for pre-approval.
Step 4: You will receive confirmation about the approval of your request. It will also include all the details like the amount, coverage information, etc.
Step 5: Visit the chosen hospital and take an admission. You will have to show the approval details to the billing department of the hospital.
Step 6: Afterwards, your insurer will pay the said amount to the hospital. If your bill exceeds the approved amount, you have to pay it from your pocket.
Step 7: In case of any other approved medical expenses after discharge, you can raise a reimbursement claim by submitting the bills and documents to the insurer for full and final settlement.
Note: In case of emergency cashless health insurance, once you are admitted, let your insurance provider know by filing a claim.
What is the Difference Between Cashless Claims and Reimbursement Claims?
If you are wondering about the reimbursement claim, keep reading to get a clear insight into it. A reimbursement claim can be filled after you pay the medical bills from your pocket and are discharged. In such scenarios, one gets the full paid amount from their insurer after the claim approval. On the other hand, cashless claims against planned or emergency hospitalisation where you have to pay nothing or a nominal portion of your hospital bills.
Top Reasons Why a Cashless Health Claim Can Get Rejected
Cashless claims are one of the significant benefits of buying a health insurance plan. In medical emergencies, it saves a policyholder from massive financial strains. However, there are some common reasons why cashless claims get rejected. They are as follows:
- Expired Medical Policy
- Lapsed Policy
- Incomplete Documents
- Exaggerated Claims
- Waiting Period
- Incorrect Information
- Existing Medical Conditions
- Policy Exclusions, etc.
The Bottom Line
Deciding to buy health insurance is a wise choice as it offers invaluable financial protection during medical emergencies by facilitating hassle-free hospitalisation and treatment. However, understanding policy inclusions, and claim procedures is crucial for a seamless experience. Now that you know all about cashless health insurance plans, choose wisely to ensure comprehensive coverage and peace of mind.
If you are planning to purchase health insurance for yourself or your family, connect with ACKO to get affordable premium options.
Read More News :
