Know Everything About Cashless Mediclaim Insurance

Health emergencies come without a warning. Usually, people realize the presence of any disease or ailment after it escalates, making hospitalization inevitable. In such situations, paying exorbitant medical bills can significantly affect their savings. Thankfully, the availability of cashless health insurance offers a reassuring solution without going through hassles. Read ahead to learn everything about cashless mediclaim insurance.

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      What is Cashless Mediclaim Insurance?

      Cashless Mediclaim insurance allows policyholders to avail cashless hospitalization facilities at a network hospital of their insurance company. It ensures that the insurer pays your medical expenses directly to the network hospital upon completion of treatment. All health insurance providers in India have tie-ups with hospitals that provide cashless treatment.

      Opting for cashless mediclaim insurance lets you take treatment at any of your preferred network hospitals without worrying about paying the medical bills. However, cashless treatment cannot be availed at a non-network hospital of your insurance company.

      Benefits of Cashless Mediclaim Insurance

      Here are some significant benefits of cashless health insurance:

      • Convenient Process - Cashless hospitalization is easy and convenient as your insurance company will take care of the documentation and payment of bills.
      • Eliminates Financial Stress - It allows you to focus on your health without worrying about arranging money or making immediate payments during health emergencies.
      • Get Best Treatments - Cashless mediclaim insurance allows you to get the best possible treatment, even if it means getting admitted to the best hospital in the city, as the insurance company will pay the medical bills.
      • Tax Benefits – Under Section 80D of the Income Tax Act 1961, you can avail tax exemption on the premium paid to buy a cashless health insurance policy.

      Cashless Health Insurance Claim Settlement Process

      For a smoother experience, follow the below procedure to raise a cashless mediclaim insurance claim:

      Step 1: Get admitted to a nearby network hospital in your city. In case of planned hospitalization, inform your insurance provider at least 2 days before admission. However, inform the insurance company about your emergency hospitalization within 48 hours.

      Step 2: Show a valid identity card and the health card issued by your insurer at the hospital.

      Step 3: Fill up the pre-authorization form and submit it to the hospital.

      Step 4: The network hospital will submit the pre-authorization form and the required documents to your insurance company requesting cashless treatment approval.

      Step 5: If satisfied, the insurance company will review all the documents and authorize your cashless treatment.

      Step 6: Obtain your treatment, and pay the bills that are not covered by your health policy at the time of discharge.

      Step 7: The hospital will send the bills to the insurance company for settlement.

      Step 8: After cross checking all the documents, the insurer will pay the bill amount directly to the network hospital.

      Final Thoughts

      Amid the rising cost of medical facilities in India, you might struggle to pay the hefty hospital bills during a medical emergency. Cashless mediclaim insurance lets you receive the best treatment without worrying about paying the bills. However, to avail cashless treatment, make sure you get admitted to a network hospital of your insurance company and read all the terms & conditions of the policy carefully.

      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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