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Cashless Health Insurance

Best Cashless Health Insurance for Family in India

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7.5% Discount
10% Discount

Your premium is Rs.

Above Premium includes 18% GST

I

94%

Claim Settlement Ratio (OND 2018)

II

8100 +

Network Hospitals across 500 cities

III

400 Lacs+

Lives covered

What is Cashless Health Insurance?

Cashless health insurance is amongst the most important features that a health insurance policy must cover. This facility ensures that one can bypass the reimbursement formalities at any of the network hospitals by handling the cost of the treatment. With cashless health insurance, you do not need to worry about cash arrangements. You can go for the best treatment without thinking of a cash crunch.

Cashless health insurance is beneficial to a family or a patient who is in a dire emergency and is unable to arrange for money at the last minute. In such acute circumstances, a cashless health insurance facility serves as a boon to the patient’s worries.

Types of Cashless Health Insurance

Cashless health insurance can be availed based on two conditions:

  • Emergency Hospitalization
  • Planned Hospitalisation

Emergency Hospitalization: In emergencies, relatives may have to fill out the form for pre-authorization within 24 hours of admission. It will then be sent to the TPA in a fast-tracked manner, and they will process the claim within 6 hours. If one cannot wait for approval, then the cash that is paid will be reimbursed later by the insurance company.

Planned Hospitalisation: When there is sufficient time before being admitted to a hospital, you will have to fill out the pre-authorization form before the date of hospitalization. You must carry your policy card with you. After submission, the form will be checked, verified and sent to the TPA. The TPA will then accept the claim or reject it, giving a suitable reason for doing so.

>> Check: Health Insurance for Senior Citizens

How does Cashless Health Insurance Work?

When a patient gets admitted to a network hospital, they will have a choice to make use of the cashless health insurance feature. A network hospital is a hospital that is tied up with health insurance companies. All the necessary coordination between the insurance company and the hospital will be handled by a third-party administrator (TPA) or a representative of the company. They will settle the cash as well as the cashless health insurance claims. This representative has the authority to accept or deny the patient’s claims for cashless medical insurance. Since insurance companies ensure that the network hospitals maintain their standards through stringent quality checks and yearly contract renewals, they offer some of the best cashless health insurance.

How to Avail Cashless Health Insurance?

To claim cashless health insurance follow the given below steps.

  • Ensure that the hospital is a partnered or network hospital with the insurer.
  • Submit pre-authorization form a few days before the hospitalization.
  • Submit all the supporting documents like hospital and pharmacy bills, discharge summary, investigation reports, and doctor’s consultation.
  • Based on the insurance cover, the company representative will accept or reject the claim.

Selecting the Best Cashless Health Insurance

Few key points that must be considered before selecting a cashless health insurance plan:

  • Co-payment
  • Insured sum
  • Limits on Treatments
  • Maximum Renewable Age
  • Allowance for Hospital Room Rent
  • Waiting Period
  • Day-care treatments
  • Impanelled Hospitals

What is Cashless Health Insurance Claim Settlement?

When the health insurance company directly settles your medical bills with the hospital, it is called a cashless claim settlement. This is very useful when one may not have cash on hand, and there is a medical emergency.

There are two main categories that health insurance policies come under. They are reimbursement and cashless.

  • Reimbursement: If you have a reimbursement policy, you are expected to pay the medical charges upfront to the hospital. You can then get the money reimbursed by the insurance company. This is done by filing a claim with the TPA and submitting the medical reports, bills and any required documents. After the claim has been processed, the company will transfer the money into your bank account.
  • Cashless: If you have a cashless health insurance policy, there is no need to pay any money upfront. After you have filed a claim with the TPA, the insurance company will settle the medical expenses directly with the hospital. This is particularly useful as most people don’t have a lot of cash available at short notice. There is no waiting period, and you don’t have to worry about having all the right documents at hand. These are all taken care of by the hospital and the insurance company.

5 Reasons to Buy Cashless Health Insurance

  • Immediate Treatment
  • Tax Benefit
  • Treatment in Network Hospitals
  • Cover Pre and Post Hospitalization Expenses
  • Peace of Mind

Immediate Treatment:

With cashless health insurance, you can immediately get admitted to any of the network hospitals in case of a medical emergency. You are not required to wait, and full fill cash deposit formalities. You have to inform to help desk in the hospital and to your insurer about your hospitalization. Later, after submitting all the required documents, your insurance company pays hospital bills directly.

Tax Benefits:

Under Mediclaim 80D, the premiums paid for health insurance for self, dependent parents, children, and spouses are exempted from tax. Thus, you can have saved a good amount of money and enjoy the tax benefit. It also reduces your taxable income, which reflects less tax liability.

Treatment in Network Hospitals:

During any medical exigency, you do not need to get confused about the hospitals. Under cashless health insurance, you can admit in the network hospitals nearby to your residence. These hospitals provide good healthcare services and treatment and also have trained medical professionals. You can rely on their medical treatment and get your bills paid by the insurer.

Cover Pre and Post Hospitalization Expenses:

This cover includes your pre and post-hospitalization expenses that include diagnosis, treatment, and medicine expenses, along with doctors’ fees. It also covers treatment costs such as dialysis, chemotherapy, daycare treatments, and surgeries as well. With this cover, your savings will not be drained in treatments, and you can keep it for your future.

Peace of Mind:

Cashless health insurance gives you peace of mind. You can stand strong in any medical emergency. You do not need to borrow extra money for you or your family member’s treatment. From hospitalization to daily cash allowance, ambulance cover, second opinion all you get under this cover.

Check Religare health insurance that gives you immediate cashless health insurance at an affordable premium to stay protected.

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