19 min read
Updated on Nov 6, 2023
We all know how important health insurance is to protect us against the odds of life in the form of health emergencies and unforeseen situations. With an all-inclusive and cashless health insurance plan, you can stay protected from such unpredictable expenses. In this post, we are guiding you with the top 10 cashless plans in India for your best health coverage.
|Plan Name||Entry age||Sum assured||Waiting period||Min. Premium|
|Bajaj Allianz Health Guard Family Cover||18 – 65 years||INR 5 – 50 lakh||30 days (initial waiting period)
3 years (for Pre-existing diseases or PEDs)
|INR 6,962 per year|
|Care Health Insurance Care Plan||91 days – 18 years||Up to INR 75 lakh||30 days (initial waiting period)
2 -4 years (for PEDs)
|HDFC ERGO Optima Restore Health Insurance Plan||18 – 65 years||INR 3 – 50 lakhs||30 days (initial waiting period)
2 – 3 years (for PEDs)
|Max Bupa Health Insurance Plan||18 – 65 years||Up to INR 12.5 lakh||30 days (initial waiting period)
2 – 4 years (for PEDs)
|ICICI Lombard Health Care Plus||5 – 18 years||Up to INR 50 lakhs||30 days (initial waiting period)
2 years (for PEDs)
|Varies as per the plan|
|Apollo Munich Optima Restore Health Insurance||5 – 65 years||INR 5 to 50 lakh||30 days (for accidental hospitalization)
2 to 3 years (for PEDs)
|INR 24 per day|
|Navi Health Insurance||91 days – 70 years||Up to INR 1 crore||Up to 1 year (with terms and conditions)||INR 235 per month|
|Aditya Birla Cashless Health Insurance Policies||Varies according to plan||Starts at INR 5 lakh||30 days (initial waiting period)||INR 2,486 per year|
|New India Assurance Cashless Health Insurance Policies||Depends on plan||Depends on plan||Depends on plan||Depends on plan|
|Reliance Cashless Health Insurance Policies||5 – 65 years||Starts at INR 3 lakh (depends on plan)||30 days (initial waiting period)
2 to 3 years (for PEDs)
|INR 243 per month|
Most policyholders who are insured under a health insurance policy want to avail cashless facility for hospitalization. A Cashless health insurance plan is one where the insurance company directly settles the hospitalization expenses of the insured. Under this policy, the insured is not required to make any payment from their pocket. However, to avail of the cashless facility, the policyholder is required to undergo treatment at a network/empaneled hospital of the insurer.
The best health Insurance company in India will have a wide list of hospitals under their network to offer cashless facilities to policyholders. If a policyholder goes through hospitalization in any of the network hospitals of the insurance provider, they can avail of the cashless treatment facility.
Here is the process that follows:
Insurance companies incorporate more empaneled hospitals into their network nationwide to make the list comprehensive. For the policyholder, it is always better to have as many network hospitals as possible to avail of the cashless treatment at the best hospital of their choice.
Read on to know the 10 best cashless health insurance in India from top insurers.
When you think of the best cashless medical insurance in India the first name that comes to mind is Bajaj Allianz Health Guard Family Cover. If you are looking for the best comprehensive cashless insurance plan this is what you should opt for. The plan offers you a sum assured between INR 5 lakhs to INR 50 lakhs. It provides a pre-hospitalization coverage of up to 60 days and a post-hospitalization coverage of up to 90 days. The plan allows you to avail of cashless treatment facilities at over 8000 impaneled hospitals across the country. It also provides coverage for expenses such as:
It also provides coverage for expenses incurred in areas such as the following:
The plan comes with a lifelong renewal option as well as the option of co-payment. All these reasons make this policy one of the top 10 cashless health insurance in India. The minimum age of entry in this policy is 18 years and the maximum age is 65 years. The normal waiting period under the policy is 30 days, while the waiting period for pre-existing illnesses is up to three years.
The Care Health Insurance Care Plan is also regarded as one of the best cashless health insurance policies available in India. With this policy you will be able to arrange for more-than-adequate healthcare coverage within your financial capability. The maximum sum assured in this policy is INR 75 lakh. If you choose a sum assured of INR 50 lakh, 60 lakh, and 75 lakh in this policy you would also get maternity coverage to the tune of one lakh rupees. This is an inherent part of the policy.
In this policy, if you claim an amount that is higher than the sum assured, the insurer will automatically recharge the amount. If you go five years straight without making any claim on the policy, your sum assured could increase by as much as 150%. This is one particular reason why so many people consider it to be the best cashless mediclaim policy for families in India. By choosing the floater plan under this policy you can cover your family members. This policy has over 22,900 hospitals in its cashless network!
Also Read: IRDA claim settlement ratio health insurance
Which health insurance is best in India? If you are looking for an answer to the question you can always consider the HDFC (Housing Development Finance Corporation Limited) ERGO Optima Restore Health Insurance Plan to be a viable option in this context. It is a highly appreciated plan among the cashless health insurance policies that are available in India. The plan is available in a couple of variants – Optima Restore family and Optima Restore individual. The plan would restore your sum insured even in the case when you utilize it fully. So, this is immensely helpful in fulfilling your future needs. Hence, it is regarded as the best cashless medical insurance in India. When you renew the plan, you remain eligible for health checkups till a maximum amount of INR 5000. For every claim free year under this policy, your sum assured increases by 50%. It also has more than 12,000 hospitals in its cashless network. The plan also provides you with a daily allowance of INR 800 to INR 6000 during hospitalization.
So, this is immensely helpful in fulfilling the needs you may have in this regard in the future. Not for nothing is it regarded as perhaps the best cashless medical insurance in India. When you renew the plan you remain eligible for health checkups till a maximum amount of 5000 rupees. For every year that you do not make a claim on this policy your sum assured increases by 50%. It also has 10,000 and more hospitals in its cashless network! It provides you with a daily allowance of between 800 rupees and 6000 rupees during hospitalization.
The Max Bupa Health Insurance Plan is one of the top 5 cashless health insurance in India. If you are looking for an effective option this is one policy that you cannot rule out. The policy offers you the facility of availing cashless treatment in 9100 hospitals. It is a cost-efficient policy that allows coverage for the following:
It is a cost-efficient policy as well where you get coverage for the following:
The policy is also available with refill and renewal benefits. No wonder it is regarded by many as the best cashless health insurance policy in the country. In this policy, you get four options in terms of the sum assured amount – INR 5 lakh, 10 lakh, 7.5 lakh, and 12.5 lakh. It has a term period of a year. If you go for a two-year term period you would get a discount of 12.5% on the premium for the second year. The maximum age of entry in this policy is 65 years and the minimum age is 18 years.
The ICICI (Industrial Credit and Investment Corporation of India) Lombard Health Care Plus is also said to be the best cashless mediclaim policy for families in India. It is a highly popular plan because it offers you cashless treatment within four hours. It has over 7500 hospitals in its cashless network. It is also flexible when it comes to the sum assured figure. It covers the following expenses and more:
It covers the following expenses and more:
Also Read: Health Insurance vs Medical Insurance
It is the features that make a policy a worthy contender for the title of the best cashless medical insurance in India. The maximum age of entry in this policy is 65 years and the minimum age is five years. You can cover a maximum of two adults under the policy. The person proposing the policy should be at least 18 years old. You can renew the policy till the age of 70 years. If the proposer is older than 56 years, they would have to undergo medical tests. The normal waiting period in the policy is 30 days. In case the insured has a pre-existing disease, it could go up to two years.
Navi cashless health insurance plans come with all-inclusive coverage and many special benefits. These plans are budget-friendly and suit individuals and families alike with a cashless mediclaim facility.
The plan claims to provide quick cashless treatment approval within 20 minutes for a sum assured ranging up to INR 1 crore. They have a network of over 11,000 empaneled hospitals where the policyholders can avail of cashless treatment. They further provide 100% coverage on hospital bills which cover the consumable expenses as well. Navi Health plans are available online with zero paperwork and are easily affordable.
Here are some features:
Another top insurer offering cashless medical insurance policies is the Aditya Birla Health Insurance Company. The cashless plans of the insurer cover policyholders for cashless hospitalization at its wide-ranging 10,000+ network hospitals. They also provide further benefits such as regular health check-ups, premium waivers, cashless home treatment, NCBs, discounted premiums, and more.
Below are some features:
The New India Mediclaim policy is available for people who are within the age group of 18 to 65 years. For dependent children, the age group is within 3 months to 25 years. The policy is available with a lifelong renewability option and the investor can choose a sum insured ranging from INR 1 lakh to 15 Lakhs. New India Assurance is a renowned and top health insurance provider in the public sector domain and it serves customers with a wide range of health insurance products. The Cashless health insurance plans offered by the insurer allow policyholders to avail of treatment at network hospitals spread across the country.
Below are some features:
Reliance Cashless Health Insurance plans are known for their widespread coverage and for covering exclusive medical expenses of the insured. They are available with numerous benefits and a wide network of cashless hospitals. Reliance has a list of over 8,600 hospitals in its network.
Reliance Health Gain Insurance is one such exclusive policy offered by the insurer which comes with amazing coverage at a cost-effective price. The policy is said to settle claims within 4 hours of cashless claim processing. It is a reliable solution that covers all healthcare needs of the insurer.
The plan covers below features:
Apollo Munich Health Insurance has been taken over by HDFC Limited and changed to HDFC ERGO Health Insurance Limited. The policy offers several attractive features and is a good plan to choose for your health insurance needs. As the name suggests, the Optima Restore plan allows 100% restoration benefits. The cashless facilities of the plan can be availed at their wide network of 12,000+ hospitals in India.
Here are some features:
When you are young and at the peak of your health, you may not realize the need for a health insurance policy. However, as you grow in age and cross your 40s many illnesses surround you causing you mental distress and financial drain. This is when you feel the need to have a health insurance policy to cover you against medical emergencies. Buying a health insurance plan at a young age allows many lucrative advantages to a policyholder. However, it is never too late to buy a health plan. Further, buying cashless health insurance online allows the policyholder to avail of many discounts and other benefits.
Here we are discussing some good reasons for you to understand the benefits of buying a cashless health insurance plan online:
Most comprehensive health insurance policies offer exclusive and exhaustive coverage including OPD expenses, pre- and post-hospitalization, ambulance costs, regular health check-ups, consumables, and more. As per your policy coverage and features of the plan, you can avail of several benefits under a cashless health plan. Some of them are featured underneath:
When a health emergency strikes like an accident or any sudden ailment, it requires a lot of expenses for treatment. A cashless health insurance policy can save a family from going through such difficult times. However, you must remember that health policies have many exclusions or things that are not covered under the policy. These exclusions should be taken note of if you want to avoid a situation of getting your claims rejected.
Below are some exclusions under cashless health insurance policies:
The premium of every health insurance plan is affected by several factors. These factors are usually common for both cashless and reimbursement plans. Some of them are underlined below:
|Age of entry||18-65 years (adults), 90 days to 25 years (children)|
|Pre-medical Screening||Might be required for individuals above the age of 45|
|Pre-existing Disease (PED) Waiting Period||1 – 4 years|
Buying cashless health insurance helps the insured to protect savings during health emergencies. When a medical emergency strikes, it drains people of their savings, especially if they don’t have comprehensive medical coverage for themselves and their dependent family members.
Besides, it is also important that the insurance company offers a simple process for filing a claim. With cashless health insurance, you can easily and conveniently get your claim settled at a network hospital by following the steps below:
Step 1: Go to an empaneled hospital to avail of a treatment
Step 2: Get the pre-authorization form from the help desk of the hospital. Alternatively, you can also download the form from the website of your insurer
Step 3: Duly fill out the form and submit it at the network hospital together with your valid proof of ID
Step 4: Next, the form will be verified by the TPA of your insurer. Once the form is verified and approved, the treatment gets started
Step 5: The insurer directly settles the treatment bill with the hospital on the completion of the treatment
Below are the documents required to avail cashless claim settlement process:
The below table displays the different tax benefits that can be earned on medical insurance under different situations:
|Section||Maximum deductions||Deduction on|
|Section 80D||Up to INR 1 lakh||On policy premiums|
|Section 80DD||Up to INR 1 lakh||On disabled dependents’ medical expenses|
|Section 80DDB||Up to INR 1 lakh||For specific diseases medical expenses|
|Section 80U||Up to INR 1.25 lakh||On disabled taxpayers’ medical expenses|
Health is something that no one can guarantee. You may be hale and hearty today and weak tomorrow. The harsh reality that everyone has to accept is that our health will not be the same every day. We would require medical treatment at some point in life to cure some or the other condition of our body. But we also know how costly the medical affair has become. Even regular tests and routine check-ups can cost us a significant amount of our hard-earned money.
For people who have a family of 4-5 members, the expenses of these routine check-ups can go much beyond as compared to what our pocket can endure. Also, unlike in earlier times health conditions are not limited to the older generation anymore. Young and middle-aged people also go through critical illnesses. This is because of many factors like the unhealthy and sedentary lifestyle, the high intake of processed food, the rising pollution levels or environmental hazards, and more.
Thus, you need a medical insurance policy to cover your family well so that if unfortunately, any health emergency strikes, you can focus on getting the person cured rather than worrying about the finances. Hence, it is very important to buy the best health insurance plan for yourself and your family after comparing them online so that you can avail of a comprehensive policy.
People are of the view that health insurance plans pay for the expenses only in the event of hospitalization. However, this is not correct. In addition to covering the costs of hospitalization, your health insurance plan also covers many more costs. Some of them are mentioned below:
With the rising cost of healthcare facilities and treatments, there has surge in the number of families/individuals opting for health insurance plans. Having a good and comprehensive health insurance policy is the best gift that you can offer to your dear ones or yourself.
However, there are some points of consideration when it comes to buying an affordable health insurance plan:
It is equally important to read the policy document thoroughly and check for the inclusions and exclusions in your policy. Further, check for other things like waiting periods for pre-existing diseases, coverage flexibility, riders, top-ups, and more.
You deserve the best of health insurance!
Answer a few simple questions to determine the ideal plan that suits you best at PayBima Health Advisory.
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HDFC ERGO Health Insurance is India's top health insurance company, with a claim settlement ratio (CSR) of 99.8 in FY22.
A cashless health insurance policy is one in which the insured's medical bills are directly settled between the insurance company and the network hospital. It offers cashless hospitalization, which means that the insured does not have to pay cash to receive treatment.
The cashless health insurance coverage does not cover self-inflicted injuries, injuries caused by suicide attempts and so forth. Except for accidents, any treatment or medical expenses spent within 30 days of the policy start date are excluded.
An emergency situation cannot be predicted. As a result, the insurance company cannot be notified three days before the emergency. As a result, the time limit for emergency mediclaim policy is 24 hours after admission to a hospital.
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