Key benefits of opting for a cashless mediclaim policy
In case of a medical emergency, you may need large sums of money readily available in your bank accounts or your pocket. Having the right cashless mediclaim policy in place, you will not have to worry about arranging any finances. Under this policy, all the medical expenses will be settled directly between the insurance company and the network hospital.
In this article, let us understand what cashless mediclaim policy is and the key benefits provided under this policy.
What is Cashless Mediclaim Policy?
Under a cashless mediclaim policy, you will not have to spend a dime in the hospital since all the transactions would be settled by the insurer. You can only avail of cashless claims at the network hospitals of the insurer. With this benefit, you can bypass the reimbursement formalities at any network hospital.
The cashless mediclaim policy offers the advantage of immediate treatment and a hassle-free experience. It also comes with extensive benefits to help you get the best treatment.
How does it work?
Most mediclaim policies offer an option to opt for cashless claims. In other words, you will not have to pay any money upfront to the hospital for medical expenses incurred. The transactions are handled directly by the insurance company.
In order to avail of the facility of cashless Mediclaim, you must admit the patient to one of the network hospitals. These hospitals have a tie-up with the insurer to provide cashless services. The policyholder can get approval to avail cashless claims after verifications, subject to the policy terms and conditions.
Benefits of Cashless Mediclaim Policy
Cashless hospitalization is beneficial, especially in emergency situations since it may be difficult to arrange money in a short period of time. Cashless mediclaim policy helps you in dealing with medical emergencies by paying your expenses upfront.
Here are some of the key benefits of opting for a cashless mediclaim policy:
The right cashless mediclaim policy can help you skip the hassles of arranging cash to pay for the medical expenses incurred. You have to inform the hospital helpdesk and the customer support team at the network hospital within 24 hours during an emergency and within 48 hours in the case of planned hospitalization.
The cashless Mediclaim policy offers hassle-free services at the network hospitals. All the medical expenses are settled directly between the insurer and the hospital. Also, since no lengthy paperwork or documentation is required, it makes the process less cumbersome.
Coverage During Travel
Medical emergencies due to injury, illness, etc., can arise while travelling. Arranging money in such situations can be worrisome. However, if you have a cashless mediclaim policy coverage that has a wide network of hospitals across the country, then you can avail of cashless claims during travel.
The premiums paid for the cashless mediclaim policy are exempted from tax under section 80D of the Income Tax Act of India. Thus, you can save a fair amount of money on taxes under this policy.
Peace of Mind
The cashless mediclaim gives you peace of mind by helping you stand firm during any medical emergency. You can enjoy extensive benefits from ambulance cover and daily cash allowance under this policy.
Mediclaim policies are the safeguards that can protect you from financial stress during a medical emergency. And the cashless mediclaim policy can make things light where you do not have to worry about arranging money. There are many options available to buy a cashless mediclaim policy.
Finding the one that offers you the maximum returns as per your needs can be difficult. You can consider buying this policy from a trusted brand like Care Health Insurance. They offer the cashless mediclaim policy with affordable premiums, comprehensive coverage, and extensive benefits.