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What Are the Advantages of a Cashless Health Insurance Cover?

by Byrne Anderson
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As every sector in India moves towards cashless operations, insurance has also taken a step in this direction. Gone are the days when policyholders had to wait until the crisis was over to get a reimbursement from the insurance company. The idea of cashless benefit is simple – to make policyholders safer than ever and reduce their monetary burden.

Now, there is no need to worry about the immediate cost of a medical emergency. With a cashless health insurance policy, the policyholder can be free of the hassle of paying hospital fees. The insurance company is responsible for settling these bills directly with the hospital.

Traditional insurance policies require the submission of all required medical documents after treatment. So, that means emptying the pockets first and then refilling them. Cashless health insurance protects you from the hassle of running around for money in times of crisis.

Cashless insurance

When it comes to health insurance, cashless means easy. Insurance companies that offer cashless claim benefits with their health policies operate only in-network hospitals. They have a list of network hospitals that can offer cashless treatment to policyholders. The insurance company has a tie-up with them, which allows them to settle bills directly.

Steps involved in the cashless health insurance process

Policyholders need to follow these simple steps to avail cashless insurance benefits for this policy:

  • To avail of medical benefits from this policy, select an option from the list of insurance company network hospitals.
  • At the hospital insurance desk, ask for a pre-authorization form and fill in all the details about the treatment.
  • Sends the hospital form to the Company or Third-Party Administrator (TPA) for approval and processing.
  • Once they approve it, the cashless health insurance policyholder is directly eligible for coverage.
  • In the event of an emergency, the hospital’s insurance desk seeks to expedite the approval process.

* Standard T&C Apply

Cashless health insurance benefits

The reimbursement insurance policy is considered a necessity by most people. On the other hand, a cashless policy is a combination of necessity and convenience. No additional financial liability will be imposed on the policyholder in case of an emergency. Planned hospitalization also reduces the pressure of receiving coverage claims. Since hospital payments are handled directly by the insurance company, the policyholder does not have to make lengthy paperwork and draft paperwork. There is a minimum waiting period to get the policy. There is no need to rush the treatment only so you can claim reimbursement early. Buying cashless health insurance plans for family means that you can solely focus on the treatment. The cashless health insurance experience is seamless and less cumbersome. * Standard T&C Apply

When a person has a cashless health insurance policy, it is like having an airbag in the car under unprecedented circumstances. It is useful in any medical condition to get rid of financial stress. In addition, it provides peace of mind ready for an encounter without interruptions in an odd situation. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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