Things Covered In A Cashless Health Insurance Policy

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As the name implies, cashless online health insurance policies are those insurance plans that give the policyholder a choice to receive care at a hospital in the insurer’s network without having to pay any money upfront. All of your medical expenditures are paid by the insurer and the hospital if you receive treatment without paying cash. One merely needs to advise the insurer of their intention to use the cashless claim settlement option at least two days before the hospitalisation (if it is planned) or within 24 hours of the emergency admission (if it is unplanned).

How Cashless Claims Function

Checking the insurer’s network hospitals makes sense when selecting a plan. Additionally, make it a point to read through your policy document and look at the network hospital list so that you may get a sense of the more renowned or well-liked hospitals in your area. This is critical since, in an emergency, it may be challenging to choose a network hospital if you haven’t already examined the list.

In either case, only network hospitals have the ability to provide cashless care. You must notify the insurer of the admission after it has been completed. From this point on, the insurer proceeds with the hospital and simply needs your assistance with any necessary paperwork. Your insurance information will be gathered by the hospital, which will also verify that your coverage is legitimate.

Advantages Of A Cashless Health Insurance Policy

Here are the health insurance benefits of cashless policies that you must keep in mind:

  • You can be admitted to any network hospital and receive treatment there using the cashless treatment feature without having to pay anything. The process is very convenient once the insurance company has been alerted as soon as feasible.
  • Hospitals must successfully complete a rigorous process before being empanelled by insurers into their network. This process includes several important qualification criteria. As a result, when you are receiving care at a network hospital, you can be sure that you will actually get top-notch medical attention as well as knowledgeable direction from certified medical specialists.
  • You won’t have to deal with a tonne of paperwork because the insurance and the network hospital will handle the payment directly amongst themselves. Additionally, since there is no stress associated with having to come up with a substantial sum of money for treatment, you can maintain your concentration on rehabilitation.
  • You are eligible to claim tax exemptions for online health insurance premium payments under Section 80D of the Income Tax Act of 1961. As a result, you not only get to reduce your tax liabilities but also obtain peace of mind. **
  • Up to the sum insured determined by your chosen insurance policy, pre- and post-hospitalization expenses, including those for diagnosis, treatment, medical bills, doctor visits, etc., are covered. Cashless health insurance also covers the costs of specialised therapies, including dialysis, chemotherapy, surgery, accommodation (as allowed by the policy), and other nursery expenses.

** Tax benefit is subject to change in prevalent tax laws

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.