Cashless Department

What is a Cashless Claim in Health Insurance?

A cashless claim in health insurance is a type of claim you file under your policy when you are hospitalised for need of medical attention. In a cashless claim, your Insurance company/ TPA and the hospital will coordinate and settle the bill based on your policy coverage.

Moreover, a cashless claim can only be filed if you choose to receive treatment at an associated network hospital.

The high medical costs and exponential medical inflation in India underline the importance of Cashless health insurance policies. In the event of a medical emergency, one may need more time to arrange the finances to cover the medical expenses. However, under a Cashless claim, the insurance provider and the hospital will work together to settle your medical bills as per your insurance coverage.

What is cashless facility in health insurance?

Cashless health insurance is a type of insurance plan where policyholders can avail of medical treatment without having to pay the hospital or medical facility directly. Instead, the insurance company settles the bill directly.

Benifits of cashless insurance

In case of a cashless claim, the documentation involved for the policyholder is lesser than what is needed in a reimbursement claim, as the insurance company and the hospital settle the bills between themselves.
The premium paid for health insurance is exempted from taxes under Section 80D of the Income Tax Act. So, apart from getting the peace of mind, you get to reduce your tax liabilities too.

What is Medical Insurance Claim Procedure & How Does It Work?

A health insurance claim or a medical insurance claim is a request that is raised by the policyholder for compensation of the expenses incurred for the treatment. The insurance company upon verification of the claim either settles the bills directly with the hospital or reimburses the amount you spend, depending on the type of claim procedure you have opted for.

A health insurance providers partner with different hospitals all over the country after examining their quality, reputation, rates and coverage of procedures. These are called networked hospitals, which have been vetted by the insurance companies after their thorough background check.