In today’s fast-paced world, unexpected medical emergencies can create significant financial burdens. Cashless health insurance allows policyholders to receive treatment without immediate out-of-pocket expenses. Cashless health insurance provides a safety net, guaranteeing that medical emergencies do not lead to financial strain. Health Insurance is a service that gives you peace of mind when dealing with any critical medical situation.

Cashless health insurance  

Cashless health insurance is a type of  plan in which the insurer company directly pays the hospital for your medical expenses at the time of treatment. It allows you to receive medical treatment at network hospitals without paying upfront.

Cashless health insurance process

In cashless health insurance treatment, the insurer and the hospital settle all the medical bills within themselves. The procedure involves first finding a cashless hospital, verifying your identity, completing the request form, and then submitting the request form to the hospital. The hospital sends the form to your insurance provider for approval.

The process to avail of cashless treatment involves the following steps:

1. Find a cashless network hospital: Find a hospital that is part of your insurance provider’s network.
2. Verify your identity: Provide your insurance policy number, along with a valid ID proof (Aadhar card, PAN card, driving license, or passport).
3. Apply on a request form: Download the request form online or ask the hospital for a pre-authorization request form.
4. Submit the request form: Submit the form to the networked hospital.
5. Approval: Your insurance provider will either approve or deny the claim request after reviewing it.
6. Treatment: Once the insurer provides the confirmation to the hospital, you can proceed with the treatment.

Below are the documents required:

• Claim pre-authorization form
• Policy copy or number
• ID proof

Best cashless health insurance

There are dozens of health insurance companies that claim to offer the best cashless coverage benefits with prime claim settlement ratios. But nowadays, only a few cashless health insurances truly meet customer expectations and standards.

Consider these simple steps while selecting a cashless health insurance plan:

1. Network Hospitals: A wider network ensures easier access to cashless services. The cashless claim process must occur quickly and in a smooth way.
2. Claim Settlement Ratio (CSR) and Incurred Claim Ratio (ICR): A high CSR indicates efficient claim settlements, while a balanced ICR reflects the insurer’s financial stability.
3. Premiums and Deductibles: Confirm that the premium is cheap and understand any deductibles or co-payment clauses.
4. Free Medical Check-up: You can avail of free checkups under a healthcare insurance plan.
5. Pre- and post-hospitalization expenses: Check if the policy covers pre-hospitalization (medical tests, doctor visits before admission) and post-hospitalization expenses (follow-up treatments, medications etc).
6. Customer Reviews: Check if health insurance has positive reviews all over and has low complaint volumes.

Top 5 cashless health insurance

There are several cashless health insurance plans, including individual, family, senior citizen, maternity, critical illness, and personal accident plans.

Below are the types of cashless health insurance plans:

1. Individual Health Insurance: Covers a single individual. It Provides cashless hospitalization benefits at network hospitals.
2. Cashless family health insurance covers the medical expenses of the entire family under a single policy.
3. Critical illness plans: This provides the policyholder a lump sum if they are diagnosed with a critical illness (like cancer, heart attack, etc) covered by the insurance.
4. Senior citizen health insurance: Offers health insurance coverage to senior citizens.
5. Personal accident insurance: Pays financial support in case of disability or loss of life due to an accident.

Benefits of cashless health insurance:

• Preserves financial liquidity: Policyholders do not need to pay for medical expenses out of pocket.
• Free of cost: Policyholders do not need to panic about the cost of treatment or hospitalization expenses.
• Cashless OPD coverage: Beneficiaries can use services like doctor consultations, diagnostic tests, and medications without paying upfront.
• Pre- and Post-Hospitalization Profits – any policies cover expenditures before and after hospitalization, such as consultations and follow-ups.

Conclusion

Cashless health insurance offers a shield, preventing medical emergencies from causing financial stress. By understanding the cashless health insurance method and carefully choosing a Medical insurance plan that aligns with your needs, you can secure timely and hassle-free medical care.