Lifestyle

How is the cashless hospital facility is a must with a health insurance policy?

Health-related problems come unannounced. Sudden sharp pain in the heart and you have to be rushed to the hospital. Now the doctor says it was a cardiac arrest and needs immediate treatment. Also, you have to be hospitalized until you are stable. Imagine what your family will go through, especially if they are the kinds who are dependent on you. And the stress of standing in the queue to clear the hospital bill is different altogether. Well, all of these kinds of stress can be kept aside and you can focus on your recovery if you buy a health insurance policy at the right time.

Now when you are opting for one such policy, you need to ensure that it is a cashless health insurance policy. Wondering why you should consider a cashless health insurance policy? Well, go through the piece of information for better understanding.

Why is cashless health insurance significant?

Cashless health insurance is something that the majority of the policyholders are going for, and of course for the right reasons. Here are some of the reasons mentioned below that justify the importance of this option.

  • There is no need to stand in the queue to pay the bills.
  • This will keep you away from all the paperwork that is related to the hospital bills.
  • You can save a lot of time.
  • There is no need of getting the cash ready.
  • When you are availing of the cashless hospitalization, it means you are getting your medical treatment from one of the network hospitals. This also assures you of being in the right hands of medical practitioners.
  • On taking a cashless health insurance policy, you can get tax benefits under Section 80D of the Income Tax Act, 1961.

Types of cashless health insurance

Cashless health insurance is basically of two types, which include Cashless Individual Health Insurance, Cashless Family Floater Health Insurance, and cashless health insurance for senior citizens.

Cashless Individual Health Insurance:

Under this option, the individual policyholder will be able to make the cashless claim for the hospitalization expenses. However, it all depends on the rules and regulations that are mentioned in the policy.

Cashless Family Floater Health Insurance:

As you choose this option, each of the family members is a beneficiary and is covered under the same health plan. All the family members can avail of the cashless hospitalization option along with the several benefits under the plan.

Cashless Senior Citizen Health Insurance:

According to the terms and conditions of this kind of health insurance plan, hospitalization expenses, ambulance expenses, and many more are designed particularly for senior citizens.

Things to bear in mind

While you are opting for cashless health insurance, there are a few things that you need to keep in mind. Here are they mentioned below:

  • A cashless insurance claim can be rejected. To stay away from one such situation, you need to make sure that complete information has been provided in the pre-authorization form.
  • Few things are not covered by the insurance providers, which include nebulizers, oxygen masks, ambulance charges, etc. Apart from these, service charges and documentation charges are also not covered.
  • Before you purchase a cashless health insurance policy, make sure you read the documents thoroughly.
  • For future reference, you must keep a copy of each of the bills and hospital documents.
  • In case the sum assured exhausts, you will be required to pay the rest of the amount from your pocket.

Now if you want to explore the options of cashless health insurance policies in the market, you can visit the website of IIFL. You can also check out the various health insurance policies that are available in the market and can be suitable for you.

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