Healthcare is becoming highly unaffordable due to the rising medical costs; therefore health insurance becomes a necessity for everyone across the world! While purchasing health insurance, one must consider cashless insurance as it helps get rid of unexpected financial burdens in emergency situations!
What exactly is cashless insurance and how does it work?
A policy where you can avail the hospital treatment without getting involved yourself. Your insurer will settle the bill with your hospital on your behalf.
Accidents & diseases can strike anyone at any point, and that’s when this cashless insurance can work wonders. Insurance companies tie up with hospitals, and these hospitals are termed as ‘network hospitals’. If you have to get admitted to these network hospitals, you won’t have to pay for the treatment as your health insurance company will take care of all the expenses.
Remember that these cashless facilities are available only in the exclusive network hospitals.
Types of Cashless Health Insurance in India:
Predominantly, Cashless Health Insurance in India can be categorized into two types:
- Cashless Family Health Insurance – A person can get his/her entire family covered under one plan/policy in the family health insurance.
- Senior Citizen Health Insurance – Pre-existing diseases expenses, ambulance charges, hospital expenses are covered under Senior Health Insurance for senior citizens.
Process for Cashless Facility
- Planned Hospitalization:
You can have a look at all the network hospitals and then decide which hospital you want to get admitted to, in a planned hospitalization. It gives you time to consult with your near ones and then take a decision where to get hospitalized for the best treatment. Documentation formalities should be completed 3-4 days before you’re hospitalized.
- Emergency Hospitalization:
During an emergency hospitalization, you must make sure that the person is hospitalized at the earliest. You can choose any nearby network hospital in such a tensed situation, and then start the cashless process within 24 hours of hospitalization.
Advantages of Cashless Health Insurance
- Boon for emergency situations – Imagine a member of your family gets ill and needs to be hospitalized immediately, but you don’t have enough cash to admit him/her to the hospital right away. What would you do in such a tensed situation?
Rush him/her to the hospital, get cash arranged from the nearest ATM, and then manage all the high expenses of operation, room charges, medicines, etc. for the next few days. Or would you go for a ‘cashless’ treatment, where you don’t have to pay anything to the hospital, as your insurance company will pay to the hospital directly?
You surely would like to go for a hassle-free cashless way as it is a boon in such emergency situations!
- No documentation work – You will be free from all the submission process to claim your policy. Discharge sheets, documents are not to be submitted in the cashless policy!
- No waiting period – Unlike other policies, where claim settlement happens once the patient is discharged, there’s no waiting in this cashless policy as the insurance company immediately pays your claim.
As most people don’t keep a huge amount at home, cashless insurance comes as a blessing in disguise during emergency situations!
Cover your family health and save on medical expenses by purchasing cashless health insurance! It’s not just an option, but a basic requirement to keep your loved ones safe and healthy!
