Cashless Health Insurance Types & Benefits

cashless health insurance

Apart from emotional stress, sudden medical emergencies can result an unexpected financial burden also. Hence, buying online health insurance India is necessary because it makes sure that sufficient financial resources are at their disposal during such conditions. Cashless mediclaim policies are made specifically to release stress for the policyholder during crucial hospitalization moments.

Insurers settle the hospitalization as well as treatment expenses with the hospitals directly without the instant involvement of the policyholder. Under this plan, Third Party Administrators fill the gap between the hospital and the insurer.

Each medical bill raised by hospitals are sent to TPAs and then they co-ordinate with the insurer for claim settlement. It reduces the need to furnish any money during hospitalization and also decreases documentation needed to avail medical services.

Two Types of Cashless Health Insurance

Emergency Claim

In case of sudden hospitalization is needed because of an accident or serious illness.

Planned Claim

When the policyholder know about the hospitalization well in advance

  • Cashless Claim Settlement Procedure

Insurers providing cashless insurance have a tie up with hospitals which come under their ‘Preferred Provider Network’. Cashless feature can be available only at hospital comes under PPN of your insurer.

First, the policyholder should fill an application furnishing the information needed by the hospital. Then, this application is shared with TPAs based on the policy terms to share the expenses limit covered under the cashless health insurance and issue an authorization accordingly. Rejection often happens where the essential information is not submitted in the pre-authorization application.

In case TPA rejects your request, then an alternative could be to pay the medical expenses and reimburse it later. The hospital begins the treatment when they get the authorization letter from TPAs. Insurer processes the claims up to the admissible limits at the time of discharge in co-ordination with TPAs.

  • Cashless Health Insurance Benefits

Below are some few reasons why this policy should be purchased by every family:

Decrease tension in case of medical emergencies

edical emergencies

During emergencies, the policyholder is not necessary to make any expensive payments towards hospitalization from his own pocket. Due to tie-up with hospitals, insurers provide negotiated rates for different treatments and help the policyholder to save some money on the sum insured under the healthcare plan.

Keep Emergency Funds

Buying online cashless health insurance takes care of medical emergencies.

Now that we have understood benefits of Health Insurance Portability feature; view, compare and buy Health Insurance policies online from the best Health Insurance companies in India at Policyboss.com.

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