How to Make the Most Out of Cashless Facility Offered in Health Insurance Plans?



How to Make the Most Out of Cashless Facility Offered in Health Insurance Plans?

Health insurance is a crucial insurance policy that everyone must-have. Today, owing to the sedentary lifestyle, several people are suffering from various lifestyle-related diseases. Also, over the years, the cost of medical procedures has increased significantly. Not everyone can afford the best healthcare easily, but everyone deserves to get one.

For such reasons, it is prudent that everyone gets the best health insurance coverage. Bajaj Allianz General Insurance Companyprovides the best cashless facility in this category. In this blog, let us try to understand how you can avail the benefit of the cashless facility in health insurance.

What is a Cashless Medium?

As the name suggests, a cashless facility means that as a policyholder, you get the healthcare under your health insurance policy without having to worry about paying the hospital bills. In other words, the hospital bill is directly settled by the insurance company, up to the sum assured limit.

Cashless hospitalization is extremely beneficial, especially in cases of emergency where the ailing patient or their family may not be able to make last moment monetary arrangements for the treatment. Furthermore, insurance companies have now started offering a higher amount of benefits on cashless mediclaim policies, to cater to the changing healthcare needs. *

Cashless Hospitalization Procedure

The insurance companies tie-up with different healthcare service providers after analyzing their medical services. These facilities are included in the cashless network and when you avail treatment in these, you do not have to pay any money to the hospital. The insurance company uses third-party administrators (TPA) to coordinate with the hospital and directly settle the dues. *

Types of Cashless Treatment

Planned Claim– With a planned claim, an insured is aware of hospitalization at least a few two-three days in advance. Accordingly, in such claims, he is asked to take a pre-authorization form from the hospital at least a few days before the scheduled treatment.

Emergency Claim– When an insured person needs immediate hospitalization due to a sudden onset of a critical disease or situation, it is known as an emergency claim. *

* Standard T&C Apply

Benefits of Cashless Treatment

  • Offers support during medical emergencies*
  • A source of relief *
  • Provides an extensive range of coverage*
  • Cushions your health during travels*
  • Offers tax benefits*

* Standard T&C Apply

Vital Aspects to Remember Before Availing of a Cashless Treatment

  • Every insurance company has its own set of terms and conditions; therefore, it is important to carefully read the policy wordings. *
  • The cashless treatment facility is available only at the network hospitals. *
  • If the cashless claims are denied, you need to pay for the hospital expenses from your pocket and then apply for reimbursement. *
  • It is imperative to send a timely intimation to the insurance company/TPA. *
  • Necessary documentation, original doctor’s reports, and prescriptions should be furnished, if required by the insurance company/Third Party Administrator (TPA) *

* Standard T&C Apply

It is compulsory to display the health insurance card at the time of admission at the hospital to avail of cashless settlement.

Exclusions You Need to Know Under Cashless Treatment

  • Service charges*
  • Registration fees or admission fees*
  • Expenses about oxygen masks, syringes, diapers, etc.*
  • Toiletries
  •  Attendant’s fees *

* Standard T&C Apply

While a cashless facility is a blessing for those under the stress of a medical emergency, it must be noted that it is only available to those who have a health insurance policy with the facility built-in. Hence, you must have at least a basic health insurance cover. Moreover, having adequate health insurance from a reputable service provider like Bajaj Allianz General Insurance is critical, as any medical emergency can land up at your doorstep unannounced.

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.