Arranging for cash to cover hospitalization expenses may turn out to be a cumbersome task. This is where a cashless insurance plan comes to the rescue. Cashless policies are insurance policies where the insurance provider settles the bill directly with the hospital. You may avail of this facility at any of the insurer’s network hospitals. You may then receive the best treatment from the hospital without having to bear any medical expenses.
Points to remember while opting for cashless insurance
The process to avail of cashless benefit is quite simple. However, you should keep the following points in mind while opting for cashless medical insurance:
- Inform your insurer
In case you have planned to undergo treatment, inform your insurer well in advance, as per policy stipulations.
- Select a network hospital
You may avail of cashless benefits only at network hospitals. Look up at the list of Third Party Administrators (TPA) to identify hospitals present in the insurance company’s network.
- Fill the preauthorization form
Upon visiting the network hospital, you have to present your health insurance card and fill a preauthorization form, which is made available on the insurer’s website or at the insurance desk at the hospital.
- Understand exclusions
Not all treatments are included in insurance policies. Hence, have a proper understanding of the same before making a cashless medical insurance claim.
- Maintain all documents
Having all the documents arranged helps you have a smooth and hassle-free cashless settlement process.
Cashless claims benefit
cashless medical insurance policies offer numerous advantages during medical emergencies. It reduces your financial burden and allows you to focus on your speedy recovery. Following are few other benefits of the cashless medical insurance policies:
- 1. You need not run from pillar to post arranging for cash during a medical emergency.
- 2. Cashless policies eliminate the need to sell off or mortgage assets such as property or gold.
- 3. There is no need to liquidate financial instruments such as Fixed Deposits (FDs) or mutual fund investments.
- 4. You need not borrow from your social circle of family and friends, thereby preventing any strain in relationships, in case of failure to repay.
- 5. You need not use your credit card for making a payment towards hospital expenses. This saves a significant amount of money due to high interest rates on credit card debts.
If you are looking to purchase a medical insurance plan, consider HDFC Life Easy Health Plan. This plan provides a lump sum amount in an event of hospitalization, diagnosis of critical illness, or surgical procedure for any member of your family. By investing in the HDFC Life Easy Health Plan, enjoy comprehensive cover at the best rate and get protection from well-defined cashless benefits. So, beat the rising medical costs and get adequate coverage by purchasing this medical insurance plan.