Cashless Health Insurance – With the increase in day-to-day risks, health insurance has become one of the most important investments that you can make. It saves the day, especially during an unforeseen medical emergency.
These days, most insurance agencies have begun selling medical coverage online to facilitate the system for clients. They have additionally presented credit only health care coverage administrations, which makes it simpler for you to make claims and pay for clinic and other clinical costs. The accompanying article clarifies exhaustively about credit only health care coverage.
Importance of cashless health insurance
At times of a medical emergency, it gets difficult to run to ATMs and banks to get access to cash and carry out the heavy paperwork required by the hospitals. However, with a cashless health insurance service, you can eliminate the entire process of payment using cash and all your documentation is taken care of by your insurance provider. This helps you be there for your family during a medical crisis without stressing about the hospital’s formalities and bills.
Types of cashless health insurance
There are two types of cashless health insurance, one being a family plan and another being a senior citizen plan. The former provides cover for your family against medical emergencies and treatment costs. The latter helps protect senior citizens against pre-existing illness and other overhead charges along with hospitalization expenses.
Steps to follow to make claims of health insurance online
At the time of need, cashless health insurance takes away the hassle of paying the hospital bills using cash. As the entire procedure is digitized, here are the steps you will need to follow to make claims
Along with your policy, you will be given a policy card. Once you show your policy card at the hospital, you will have to fill out a form. Some information on the form is to be filled by the doctor who is attending to the patient. They also cross-check the details entered by you for authenticity.
This form is then sent to the third-party administrator. They will check for eligibility and validity of the pre-authorization form. Depending on the terms of your health insurance policy, the third-party administrator will issue a letter of approval or denial.
On approval, your insurance company will sanction and disburse the amount within a few hours. However, this varies among different insurance companies.
Points to remember
- Cashless health insurance services are applicable only if you get the treatment done in a hospital that falls on the list of your insurance policy
- The claims can get rejected if your preauthorization form is incomplete or lacks authenticity
- Some expenses may not be included in your policy such as medical equipment charges, documentation costs, etc.
- You will have to pay for overhead charges if your assured expense is exhausted
- Make sure to keep the hospital and other bills intact for future references
- Read the terms and conditions carefully before giving any commitment
Finally, when taking cashless health insurance, do remember to compare various policies. This will assist you with choosing the one that best suits your necessities. Fare thee well.