While you cannot predict medical emergencies; you can be prepared to tide over them by taking health insurance. It ensures protection in the event of an unexpected medical contingency. You can buy health insurance online to avoid digging into your savings to meet the expensive medical costs.
In India, insurance companies offer two types of health insurance policies—cashless health insurance and reimbursement plans. With the convenience of cashless claim settlement plans, you do not have to settle bills out of your pocket and then wait for compensation from the insurance provider.
However, cashless health insurance plans are applicable only within the given network of hospitals. Just make a claim while seeking treatment at a network hospital and the insurance company will settle the bill with the healthcare provider. Be it your hospital stay expenses, prescriptions, or other treatment-linked expenses, cashless health insurance plans cover them all.
What is a cashless health insurance plan?
Cashless health insurance plans do not require you to pay cash for treatment. The insurance company works with the hospital authorities to settle your hospitalisation costs. However, make sure you seek treatment at a network hospital listed under the ambit of your insurance provider.
Hence, while purchasing a health insurance policy, you must inquire about the list of network hospitals with your insurance agent. You can find the list of network hospitals on the insurance company’s website as well as on the policy document.
Having a network hospital in your neighbourhood or close by can save you from last-minute hassles during medical emergencies. Health insurance online plans offer cashless claims facility for individual health insurance, senior citizen, and family health insurance policies.
Cashless hospitalisation helps to avoid the troubles of paying the treatment costs and completing the tedious paperwork during an emergency. With cashless benefits, you will not have to worry about arranging funds to pay your medical bills. Your insurer will directly settle the bills with the network hospital. You can easily claim up to the sum assured without paying cash at the network hospital.
Different types of cashless health insurance
There are three types of cashless medical insurance policies:
- Cashless individual health insurance
Persons having individual health insurance can enjoy the benefit of cashless hospitalisation at a network hospital.
- Cashless family health insurance
Among the benefits of this type of cashless health insurance, you and your family members can avail of cashless hospitalisation.
- Cashless senior citizen health insurance
This type of health insurance offers a plethora of coverage benefits to elderly persons. It covers ambulance costs and hospitalisation fees, among other expenses. All this depends on the terms and conditions of the insurance contract.
Cashless health insurance: What is covered?
Different insurance companies offer varying health packages under their policies. Some common inclusions are:
- Pre and post-hospitalisation charges
- In-patient care expenses
- Daycare treatment costs for treatments such as chemotherapy and cataract surgery
- Ambulance costs to reach the hospital
- Periodical health check-ups
- Domiciliary treatment costs
Benefits of cashless health insurance
- Financial freedom
With health insurance online policies offering cashless claim settlement, you do not need to carry liquid cash to settle hospital bills. The insurance company and network hospitals work in tandem to clear your dues.
If you purchase cashless health insurance, you and your family member can receive timely medical treatment during emergencies. Your savings remain intact with the cashless facility.
- Minimal paperwork
Cashless health insurance does not require you to submit discharge sheets, reports, and documents for claiming the sum assured. All this means you can breathe easy during your hospitalisation stay.
- Fast settlement
Cashless medical insurance comes with the benefits of a quick settlement. Since the insurance company pays directly to the hospital, you do not have to wait for claim settlement.
- Emergency assistance
It may so happen that you are out of town and fall seriously ill. In such cases, all you have to do is visit a network hospital to receive quality medical care. Cashless health insurance takes care of all your bills, leaving you with less to worry about.
The cashless hospitalisation claim process
Here’s how to raise a claim for hospitalisation costs of the admitted individual:
- Step 1
Your doctor advises hospitalisation due to an emergency.
- Step 2
Inform your insurance provider about the hospitalisation.
- Step 3
In case of cashless claims, you can avail of the cashless facility at one of the network hospitals. If you are receiving treatment at a non-network hospital, you have to raise reimbursement claims after settling the hospital bill.
- Step 4
If it is a non-cashless claim, you have to settle the hospital bill, following which you can raise a claim with your insurance provider for reimbursement.
Always compare different insurance plans before buying health insurance online. Getting cashless health insurance will be a wise decision as it offers several benefits just in the time of need. After all, everybody wants the best value for their money, right?