The no-hassle cashless insurance policy – and why you need it

Cashless health plans are a blessing when you need hospitalisation urgently. Let’s take a look at how they work.

The biggest fear for any person today is to suddenly fall ill and require hospitalisation. Medical treatment costs are quite prohibitive in India, and they continue to rise every year. Also, many hospitals force patients to first pay admittance fees before starting treatment – if you are short of money at that time, this can result in loss of valuable time for you or your loved one.

Health insurance companies realise the gravity of a patient losing precious minutes of treatment. Hence, they have devised the cashless health insurance plan, which is a wonderful solution for policy holders: they can get admittance at once after giving the policy details to the hospital, and the patient starts receiving treatment. The bills are settled by the insurance provider directly with the hospital.

How the cashless health plan works

Cashless health insurance makes access to quality treatment possible in the shortest span of time. On requirement, the policy holder makes their way to the nearest network hospital (the insurer has tie-ups with hospitals in every city) and submits the policy details. On confirming the details, the hospital admits the patient and fills out a form for the Third Party Administrator (TPA). The TPA then checks the policy terms and communicates whether the cashless claim may be entertained or not. The TPA may also set an upper limit on expenses to be borne by the hospital – the difference must be paid by the policy holder.

The benefits of the cashless health insurance policy

The best cashless policies today provide the following benefits, among many others:

• No medical test is required for enrollment, and you can get a sum assured of up to Rs 5 lakh
• There are no sub limits on hospitalisation coverage
• Charges are paid for room hire, ICU, day care procedures, domiciliary treatment, organ donor expenses
• Premiums on the policy are liable for tax benefits under Sec 80D
• Possibility to increase sum assured while renewing the plan

In addition, a policy holder may even time a surgical procedure for themselves or a loved one basis their own convenience, and if the procedure is entailed in the policy terms. Thus, cashless health insurance is the best answer to both emergency and timed medical calamities, and it helps policy holders save a lot of money while providing immediate treatment.