Know About Cashless Claims in Health Insurance and Why is it Important

Have you ever faced a situation where your insurance claim is not yet processed, and you have the financial burden of paying the bills? If yes, you are at the right place. If no, you need to be here even more.

Learn about Cashless claims, the go-to solution for all claims today. As a result, avoid the burden of paying your bills even when you are insured.

What Are Cashless Claims in Health Insurance?

When choosing medical insurance for yourself or your family, you might get confused between cashless policies or reimbursement policies. 

Reimbursement policies require you to pay the bills yourself first. Then, you submit the bills and wait for the reimbursement. It puts an excessive financial burden on you.

While, under cashless policies, the insurer takes responsibility for all payments beforehand.

Additionally, any of your family members can apply for cashless hospitalization by proving your insurance cover. 

Although, to access a cashless facility, ensure that the hospital is covered under your insurance provider. 

Why Are Cashless Claims Important?

Availing cashless claims facility can be essential because of the following reasons.

  • Cashless claims are important in emergencies when you are unable to acquire funds for sudden medical expenses.
  • Choosing cashless family health insurance plans eliminates the risk of financial insecurity. It is because it allows you to avail of hospitalization services without making payment in cash. 
  • Further, having cashless claim medical insurance saves a lot of time and energy. Also, it helps you avoid taking unnecessary loans from banks or relatives. 

Can Your Cashless Claim Be Rejected?

The cashless claim process follows a certain set of rules. So, if you don’t cater to those, your claim might get rejected.

Here are a few situations in which your insurer might reject your claim.

  • The claim can get rejected if your policy has lapsed before that date. 
  • You can claim cashless facilities at network hospitals only. If you get treatment at a non-network hospital, the insurer might not process your claim. 
  • If you or the hospital does not provide the information required by the company, it will not process the claim further.
  • Also, you need to submit the pre-authorization in due time for getting the claim. 

Benefits of Cashless Facility in Family Medical Insurance 

Cashless Mediclaim policy is often used synonymously with medical insurance. To get the benefits of medical insurance, buy health insurance with a cashless claim facility.  Besides, you can avail yourself of many more benefits under family health insurance plans. 

Here are a few reasons that may drive you to buy medical insurance for your loved ones.

  1. Coverage 

The family floater plans offer extensive coverage for all your family members as well. Further, cashless claims cover treatment costs along with post-hospital expenses. 

So, having a cashless family health insurance plan will reduce your overall burden of expenses. 

  1. Convenience 

Cashless claims enable you to get immediate treatment by avoiding time-consuming paperwork. Further, you get additional benefits under family health insurance plans such as critical illness cover, maternity cover, etc. 

Finally, you end up paying fewer premiums. It is a double benefit situation.

  1. Access to Medical Services

In-state of emergency and financial hardships, medical insurance helps in availing the treatment without thinking about the expenses. Further, in a state of worry for your concerned family member, insurance helps you access multiple facilities together without immediate payments.

Cashless claims allow you to get medical treatment without immediate payments but in a network of hospitals only. Still, they are better than reimbursement policies any day.Ensure you have read the document to know the terms and conditions. Also, while availing facility for family health insurance plans, ensure all the information provided is accurate.

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