Have you ever had an unexpected medical emergency that gave you financial anxiety besides the apparent stress? This is where the cashless mediclaim policy comes to the rescue. A cashless health insurance plan ensures that you receive the required medical care without worrying about immediate payment.
Let's learn more about cashless health insurance.
What is cashless health insurance?
Cashless health insurance is like having a financial safety net when accessing healthcare services. Traditionally, you would pay for medical expenses and then claim reimbursement from your insurance provider. But with a cashless mediclaim policy, you can walk into any network hospital of your insurance provider and receive the necessary treatment without any financial stress. You need not pay for them upfront. The insurer makes the payment directly to the hospital. This step prevents you from handling financial transactions during a medical crisis.
How does cashless health insurance work?
Follow these steps for the cashless health insurance process:
1. Review the list and reach out to your preferred network hospital
Cashless treatments will be available only at network or tie-up hospitals. In a medical emergency, go to the nearest network hospital mentioned by your insurance provider.
For example, Generali Central Insurance (GCI) has a vast network of over 7,000 hospitals where you can make a cashless claim.
2. Verify your identity
The hospital will verify your identity. It will also assist you in filling out a pre-authorisation form. This form is crucial as it initiates the cashless claim process. It's like the key to accessing cashless treatment.
3. Get admitted without a deposit
Once you submit the pre-authorisation form, you can get admitted to the hospital without making a deposit. This step ensures that your treatment begins without any financial concerns. Keep copies of all documents, including discharge papers, lab reports, medical bills, and claim forms, for future reference.
4. Enjoy peace of mind
After fully recovering and being discharged from the hospital, the hospital authorities will send your claim documents to your health insurance provider. The insurer will review these documents and make the authorised payment to the hospital. It is a straightforward process that lets you focus on your recovery. Meanwhile, the insurance provider takes care of the financial aspects. However, if the total treatment cost exceeds the policy's coverage limit, you must pay the remaining amount to the hospital.
What are the types of cashless mediclaim policies?
Cashless mediclaim policies come in various forms:
1. Cashless individual health insurance
This cashless mediclaim policy offers coverage for a single person. It includes all medical expenses with hospitalisation benefits.
2. Cashless family health insurance
Ideal for families, it covers all members under a single policy. The sum insured is typically higher compared to an individual plan.
3. Cashless senior citizen health insurance
This policy covers ambulance expenses, hospitalisations, and more for senior citizens.
Why do you need a cashless health insurance plan?
Medical emergencies don't come with a warning. No matter how well you care for yourself, unexpected health issues can arise. A cashless mediclaim policy for your family ensures you are ready for any medical crisis. Here are some benefits making it essential:
1. Comprehensive coverage
A cashless mediclaim policy will provide comprehensive coverage. It includes doctor visits, hospital stays, medical tests, and more. You can receive treatment according to your policy conditions at network hospitals.
2. Quality medical care
Access to high-quality medical treatment is essential when facing critical health issues. A cashless mediclaim policy for your family guarantees you or the sick family member receive top-notch care from trained professionals.
3. Tax benefits
You can claim tax exemptions under Section 80D of the Income Tax Act 1961 for buying a health insurance plan, reducing your tax liability.
4. No medical bill troubles
With the cashless process, you don't need to worry about paying medical bills. Insurance providers settle the amounts straight away with the hospitals. It means you and your loved ones can focus on recovery.
Things to consider when buying cashless health insurance
A cashless mediclaim policy for your family is a valuable asset. But there are a few key factors to consider when choosing the right policy.
1. Network hospital
Ensure your preferred hospital is on the list provided by the insurance company for cashless transactions.
2. Sum insured
Pay attention to the maximum sum insured value of the policy. It should provide sufficient coverage for your family's healthcare needs throughout the year.
3. Waiting period
Check the waiting period for cashless health insurance claims. Opt for a plan with the shortest waiting period for quick access to healthcare facilities.
4. Co-payment
Co-payment involves sharing some expenses out of your pocket while the insurance company covers the rest. Check if your policy has such a clause.
Health uncertainties can appear at any time. Hence, having a reliable cashless health insurance plan is necessary. Generali Central offers a range of health insurance plans, depending on your needs. Options include D.I.Y Health Insurance, FG Health Absolute, and FG Health Elite. These plans provide comprehensive coverage and access to quality healthcare without financial worries. So opt for one of these plans and step towards a healthy and financially secure future.
