What Are The Benefits Of Cashless Claims In Health Insurance?

Having health insurance is now a top priority among potential policyholders, who are increasingly aware of the importance of accessing quality healthcare at an affordable cost. Not only does it handle finances, but it also gives peace of mind during medical emergencies. Getting coverage without dealing with cash or documentation makes the cashless claim process an attractive feature of the health insurance.

Rather than making an advance payment and waiting for reimbursement, policyholders can receive healthcare from network hospitals without incurring out-of-pocket expenses. With its support, worrying about finances becomes less of a concern, and managing healthcare bills becomes simpler. For emergencies, where time and money are of concern, using cashless claims is very helpful for individuals and their families.

What Is a Cashless Claim in Health Insurance?

The high medical costs in India have made cashless claims in health insurance the most discussed topic. It enables you to receive quality treatment without incurring an upfront fee to the doctor in the event of a medical emergency. You do not need to arrange finances to get quality treatment. You can focus on recovering faster rather than worrying about managing costs related to hospitalisation, diagnostic tests, etc.

Instead, cashless claims reduce your upfront hospital expenses with insurer-hospital tie-ups. With its support, you do not need to pay your doctor an upfront fee and file an application for reimbursement claim settlement later.

Key Benefits of Cashless Claims

Filing a cashless claim is a quick and streamlined process that allows your healthcare provider and insurance company to collaborate and settle your medical bills. Check out the following advantages to make an informed decision:

Easy to Get Treatment During Emergencies
If you have a health insurance policy and a medical emergency occurs, you won't have to deal with financial stress. Instead, you can get any network hospitals listed in your health insurance provider’s list and access quality treatment.
Less Paperwork Burden
Another benefit of choosing a cashless claim is that you do not need to submit extensive documentation to the hospital and the insurance provider. All you need to do is inform the insurer's authorised TPA of any financial aid. And yes, just carry your e-card and skip the billing stress.
Wide Hospital Network
Select a reputable insurance provider that offers a comprehensive network of hospitals. This way, you can access quality treatment both domestically and abroad seamlessly.
No Need to Pay Any Medical Cost
A health insurance policy ensures that the policyholder can access quality healthcare in the event of planned or emergency medical treatment without incurring upfront costs to the healthcare professional.
Have Peace of Mind
Since you and your family can access quality healthcare without a financial burden, it gives you peace of mind and long-term satisfaction.
Save Time and Effort
In the event of an unexpected medical emergency, the priority should be on accessing quality treatment rather than worrying about a corpus fund. Opting for a cashless claim settlement can save time and effort during treatment. All you need to do is inform your insurer, and the cashless claim will be initiated. Depending on the chosen coverage, your policy will cover all covered expenses, from consultation to post-hospitalisation expenses.

Things to Remember About Cashless Claims

It is only available at the network hospitals listed under the insurance policy.
You should inform your authorised TPA about the hospitalisation. If it is a planned medical treatment, please notify them at least two days in advance. Conversely, in an emergency, you should inform the network hospital within 24 hours of admission.
Before buying a policy, ensure the coverage benefits and the sum insured align with your needs and goals.

Conclusion

With a cashless claims procedure, you don't need to make cash payments or wait for reimbursement, which provides much-needed peace of mind during health emergencies. Since the insurer handles payment for treatment with the network hospital, you can focus on accessing quality healthcare, regardless of the cost. All in all, it is a more convenient way to access care. This is especially useful for families unprepared for unforeseen medical costs. You can select nearby network hospitals and easily access the necessary health services.

Author Bio

Paybima Team

Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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