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Health Insurance 3343 views January 17, 2020
Cashless mediclaim policy is a type of health insurance where the medical payments are directly done by the insurer to the hospital and the policyholder is not involved in it. There are many benefits you get when you choose a cashless mediclaim policy. However, you need to be aware of the policy features and correctly understand how such a medical insurance cover works to be able to derive the highest value out of the plan. Take a look at this article to know what is cashless mediclaim policy.
Table of Contents
Let us begin by understanding what is cashless mediclaim policy. Health insurance claims can happen in two ways, namely, reimbursement and cashless. In the former, the policyholder pays the hospital bill himself and laters submits the bills to the insurance provider and gets the amount reimbursed. In a cashless facility, the bills are directly cleared by the insurer and the policyholder can simply walk out of the hospital.
The cashless facility is not available on every single health insurance plan. You have to enquire about it when buying the health insurance policy. If you really want the cashless facility, check the policy wordings to ensure the facility is available. Then, the insurance company will issue you a TPA card. TPA, or third-party administrator, is an agency who helps insurance companies in the cashless process. The cashless jobs are handled by them and they work as a network between the policyholder, the insurer and the hospitals. Every insurance company has a tie-up with a few hospitals and health care centres. These are known as the network hospitals and you can only seek cashless treatment at these hospitals.
These points will help you to understand what is cashless mediclaim policy:
As you can see, the steps are quite straightforward and simple to follow, making cashless mediclaim a handy type of health insurance.
Now that you know what is cashless mediclaim policy and you are also aware of the benefits of such coverage, you can go ahead and choose a suitable plan for yourself. Fortunately, there are many options to offer. Practically every single health insurance company in India offers cashless health insurance policies. Here are a few tips to help you choose your best cover:
In a nutshell
As you can clearly see from the points mentioned above, the cashless health insurance covers are of great use. You also know what is cashless mediclaim policy, and after understanding the features properly, go and get yourself the ideal plan. Compare the options and find the best plan at the best rate.