The benefits of cashless hospitalization health insurance policy

Very few people have cash that they can easily access in case of a medical emergency forcing most into debt. Thanks to a health insurance policy known as cashless hospitalization one can get admitted and access medical attention without having to pay with your money. A cashless hospitalization health insurance policy is limited to only hospitals in your insurer’s network.

Your insurer covers your medical, surgery and laboratory test fees depending on the nature of your cover. As a policyholder, you are also entitled to some discounts at network hospitals depending on the insurance policy that you have.​​​ A cashless hospitalization Insurance policy is available during emergencies as well as planned visits and is a sign of proper financial planning.

Advantages of cash hospitalization insurance policy

  • Online cashless hospitalization research also reveals that the health plan covers ambulance charges, pre and post hospitalization costs as well as critical illness.
  • Since you do not require cash to enjoy medical attention, medical emergencies do not become financial emergencies.
  • An easy and hassle-free process as the claim is done by the networked hospital on your behalf. Unlike in a reimbursement policy where you pay for your medical bill then claim from the insurance, a cashless hospitalization policy allows you to simply walk in and enjoy the treatment.
  • A cashless health insurance plan allows you to focus on getting better without having to keep track of all the paperwork involved during admission, lab testing and discharge.
  • In case of an emergency, you can get admitted without worrying about money.
  • The best cashless hospitalization policy role is that a third party administrator (TPA) manages your hospital and pays your bill. Saving your relatives and friends from this unpleasant task.
  • It saves you money as one is eligible for tax benefits with a cashless health plan
  • Online cashless hospitalization insurance renewal is easy and can be done throughout the policyholders lifetime or as the insurance renewal age policy provides

Exclusions not covered in a cashless hospitalization plan

Not every medical condition or emergency can be covered by your cashless health plan. Some of the conditions not covered include

  • Dental health
  • Injuries caused by negligence and man-made injuries e.g. war
  • Cashless hospitalization does not cover HIV/AIDS and its related illnesses.
  • Experimental treatments
  • Injuries incurred while doing illegal activities
  • Compare cashless hospitalization plans to confirm cover for pre-existing medical conditions as not all insurers provide this facility.

 

 

Who needs a cashless hospitalization insurance plan?

  • Anyone who is not on a fixed income can access medical attention.
  • Depending on the policy which can be verified by requesting a cashless hospitalization quote, one can transfer a policy among policyholders.
  • Anyone who may seek medical attention outside India as it also covers for medical attention abroad.

Reimbursement policy versus cashless insurance policy

Reimbursement simply means being refunded for costs incurred. Having to pay upfront for medical attention is not convenient and is a hassle as one requires to have money easily accessible. With a cashless health insurance, one doesn’t require to have cash to access medical care making it ideal.

Health insurance is designed to provide you with cover and convenience in case of emergencies and having to pay and await reimbursement is not convenient therefore making cashless hospitalization health insurance policy the best option.

 

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