Medical emergencies can occur to anyone without prior warning, leading to exorbitant expenses. That is why many individuals and families prefer to invest in health insurance policies to ensure proper medical coverage without dipping into their savings.
However, during medical emergencies, the last thing an individual wants to deal with is the burden of managing cash for treatments. This is where cashless health insurance features come into play.
In this article, we will focus on the meaning of cashless health insurance, what is covered under it, how it works and more.
Understanding Cashless Health Insurance
Cashless health insurance is a feature of health insurance policy where policyholders can receive medical treatment in any authorised hospital without paying any upfront medical costs.
The insurance provider settles the medical bills directly with the hospital. It ensures that individuals and their families receive the necessary medical care without worrying about the associated medical expenses.
Key Things Covered Under Cashless Health Insurance
Here are some of the key things covered under the cashless health insurance feature of a health insurance policy.
Hospitalisation Expenses
A health insurance policy with a cashless feature covers the cost of inpatient hospitalisation when you are admitted for more than 24 hours. This includes room charges, nursing fees, doctor’s consultation, ICU expenses and medicines used during the stay.
Daycare Procedures
Many treatments do not require a hospital stay, such as cataract removal and dialysis. These procedures are covered as part of the daycare services under health insurance policies with cashless features.
Surgical Procedures
Whether it is a minor or major surgery, a health insurance policy with cashless claim benefit covers the medical expenses. This means you can focus on recovery instead of arranging funds; the insurance provider will directly settle the bill with the hospital.
Preventive Health Checkup
Health insurance policies with cashless benefits often include preventive health checkups. These checkups help in early detection of potential health issues and reduce the risk of serious illnesses.
How Does a Health Insurance Policy with Cashless Features Work?
The working of a health insurance policy with cashless features is simple. Individuals can avail the cashless benefit in both network and non-network hospitals. Let us understand how the cashless feature works in both cases.
Cashless Benefit at Non-Network Hospital
Step 1: To avail cashless benefit, policyholders can visit the hospital of their choice. However, they need to inform the insurance provider about the admission. For planned hospital admission, at least 48 hours prior to admission, and for emergency cases, 48 hours after admission.
Step 2: Share your insurance details and any other relevant documents with the hospital. They will send a cashless authorisation to your insurance provider.
Step 3: After receiving the request, the insurance provider will verify the policy documents and other details. Based on that, they will either approve or reject the cashless benefit request.
Step 4: After approval, treatment will start without upfront payments. The insurance provider directly settles the medical expenses with the hospital.
Cashless Benefit at Network Hospital
Step 1: To avail cashless benefit with a network hospital, policyholders need to visit an empanelled hospital of the insurance provider. If it is an emergency, you need to notify your insurance provider within 24 hours of admission. For planned treatments, please notify them at least 3 days prior to hospitalisation.
Step 2: Fill out the necessary pre-procedural forms and submit other documents such as health insurance card and policy paper to the hospital authority. The hospital sends a cashless request to the insurance provider or TPA.
Step 3: Once your application is reviewed, the insurance provider sends an authorization letter directly to the network hospital. The approved amount is settled between them and the hospital.
Benefits of Cashless Health Insurance Policy
Cashless health insurance takes a huge load off your shoulders during medical emergencies, allowing you to focus on treatment instead of payments. Here are some of the benefits of a cashless health insurance policy:
With a cashless benefit feature, you do not have to stress about paying hospital bills out of your pocket. The insurance provider settles the medical bills with the hospital as per the policy terms.
With a cashless feature, you can get admitted and start treatment right away at network or authorised hospitals without worrying about arranging funds.
The cashless feature is accompanied by an efficient and straightforward claim process. To receive treatment, present your health insurance card and complete the required forms at the hospital. The rest will be taken care of by the hospital and insurance provider.
Enjoy Cashless Benefit with TATA AIG Health Insurance Policy
Cashless health insurance is a value-added feature in health insurance plans. With this, you don't have to worry about the hospital's upfront costs and can focus on receiving quality treatment.
Reputable and well-known providers like TATA AIG offer various health insurance plans that come with cashless claim benefits in both network and non-network hospitals.
With benefits like a fast and expedited claim process, 24/7 customer support and more, you focus on a quick recovery for yourself and your loved ones.
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