Cashless medical health insurance is a kind of medical health insurance where policyholders can directly go to a network hospital associated with their insurance provider to find treatment. Read details here
Any adverse health insurance plan should have a cashless claim settlement feature for any hassle-free experience to cope with any untoward medical emergency. A typical feature in mediclaim policies nowadays, the cashless claim settlement feature lets a policyholder’s insurer to directly settle a healthcare facility bills. When compared with this, claims settlement underneath the reimbursement process might be a tiresome and lengthy process for policyholders involving plenty of documents.
Exactly what is a cashless claim?
Within medical Health insurance cover, the cashless claim settlement feature is a in which the insurer directly settles the hospital bills, mostly the hospitalisation charges.
This really is considered a great feature because the insured is able to escape in the burden of having to pay the debts by themself/herself in the hospital and also the amount is reimbursed soon after days, stated Venkatesh Naidu, Chief executive officer – Bajaj Capital Insurance Broking Limited.
“All the irritation of submitting the hospital bills and becoming the reimbursement is prevented underneath the cashless claim feature. The majority of the medical health insurance plans offering cashless claim features allow policyholders to consider advised treatment at any cashless network hospital of preference,” Naidu told CNBC-TV18.com.
While taking any treatment, it is usually advised to see if a healthcare facility falls underneath the cashless network because the feature is just provided with the network hospitals from the insurer. Taking treatment in a hospital outdoors the cashless network means the settlement of hospital bills through reimbursement, a extended process.
Demand for cashless claim process
Health insurance Based on Naidu, the most challenging aspect to cope with while taking proper care of a family member in the hospital is studying the financial hassles when having to pay the hospital bills and handling lengthy documents. Throughout a medical emergency, you might prefer remaining near to the family and support them instead of handling the papers and fretting about accumulating the finances.
To avert being trapped in this situation, it is advisable to purchase a health care insurance plan that provides a cashless claims facility during hospitalisation. The feature appropriately removes all of the stress of organizing and handling finances and papers. The feature is most effective during any medical emergency, Naidu stated.
How you can acquire claims for cashless medical health insurance?
To be able to avail the cashless claim facility, the insured needs to be treated within an empanelled hospital. The procedure can vary perse the kind of treatment – planned or unplanned.
In situation of planned treatment, policyholders can submit the cashless claim form towards the insurer and the insurer will state a healthcare facility comparable. A confirmation letter could be shared through the insurer that should be posted towards the hospital.
In situation associated with a unplanned emergency treatment, policyholders have to inform their insurance provider administrator within 24 hrs of hospitalisation. Following the generation of the claim intimation number, a healthcare facility would complete and submit the cashless claim form towards the insurer. The medical expenses will be compensated by the insurer.