What is not paid in Cashless Hospitalization in India?

You may notice that even with the cashless service, there are some expenses that you will have to bear, these expenses are:

• Registration or admission fee
• Visitors/ Attendant’s fee
• Charges for diet
• Ambulance charges
• Toiletries
• Document charges
• Service charge

To know more see Cashless Hospitalization

What is the Cashless facility process for Emergency Hospitalization?

In an emergency hospitalization, the important thing is to get the patient treatment at the earliest. You need to start the procedure for cashless facility within 24 hours of hospitalization.

• Show your health insurance card and fill in the pre-authorization form.
• The insurance desk in the hospital will fast track the process for your cashless process but in case you cannot wait for the approval, you can pay the deposit if demanded by the hospital and start the treatment and reimburse the expense later on.
• Generally the time to taken to process an emergency case is 6 hours. You need to follow up with the TPA to know the status of the request.

To know more see Cashless Hospitalization

What is the process of Cashless Service?

In a planned hospitalization, you have a recommendation for hospitalization by your doctor and have time to decide which hospital to go to. You have to complete the formalities at least 3-4 days before you are hospitalized.

• Take a look at the list of network hospitals  provided while buying the Health Insurance policy or call the toll free number on your health insurance card and select the network hospital nearest and most convenient to you.
• Show your health insurance card and fill up the first part that is to be filled by the patient of the ‘pre-authorization’ form that you get in the insurance desk of the network hospital or which you can download from website of your TPA.
• Provide the filled form on the insurance desk of your hospital, the person at the insurance desk will verify its completeness and then fax it to the TPA.
• The TPA will then process the form and either approve or reject the request.
• If your form is approved, the TPA will send the authorization letter with an approved amount for the treatment.

To know more see Cashless Hospitalization

How does Cashless Hospitalization functions in India?

Health insurance companies make tie-ups with hospitals after negotiating their rates and checking their quality. These hospitals are called as Network Hospitals; Cashless service is available only in these hospitals. To know which hospitals are in your health insurance provider’s network, check the name of your TPA in the policy and visit its website or call their toll free number.

TPA or Third Party Administrators are the representatives of the health insurance companies who are responsible for settling the claims both reimbursement claims as well as cashless claims. It is the TPAs who have to approve your request for cashless and provide the service.

Pre authorization form is the form that you get at the insurance desk in the hospital or in the website of the TPA, after being duly filled by the patient and the hospital’s representatives, it is sent to the TPA which decides to approve or reject the claim.

To know more see Cashless Hospitalization

What is Cashless Hospitalization?

In Cashless Service, when you get hospitalized with a network hospital, you do not have to settle the bill with the hospital. The Insurance Company represented by the TPA, co-ordinates with the hospital and settles the bill.

Some pointers about the Service

• Cashless service is only available in network hospitals.
• All the medical documents including the lab reports, claim forms, discharge summary and final bill has to be submitted to the hospital before being discharged.
• To ensure that your request is not rejected, send a completely filled pre-authorization form and send it within the required time frame.
• Cashless facility is subject to the conditions and terms in the policy.

To know more see Cashless Hospitalization

What are the reasons to buy health insurance at young age?

Do you think that being in late teens and early twenties is a very early age to think about health insurance? Then answer this- When you can vote, race your bike or car, break rules, stay out late and finally decide what to do with your life, then having Mediclaim at a young age becomes a need too. Here is why you should buy Health insurance:

1.       Use the advantage!

When you want to buy a health insurance policy later in life you find numerous limitations and conditions to face! You will have to undergo a waiting period for pre-existing diseases and the premium will be high. On the other hand, when you buy a policy now, you will have no pre-existing disease, hence mostly all the diseases will be covered.

2.       Your Investment for the future

You may feel that buying the policy at this age will only mean losing that premium money, but actually the cost of the premium is negligible compared to amount that you may have to pay in terms of a hospital bill. Even if you don’t claim for a period of ten years, your investment in health insurance will be a profitable one. Imagine paying Rs. 1200 for 10 years which means Rs. 12000 at the end of the 10 years. On the other hand even a simple hospitalization will come to Rs. 20,000. So in all ways, you will profit.

To know more see Eligible to Vote? Time to Buy Health insurance!

Is buying health insurance an investment for future?

You may feel that buying the policy at this age will only mean losing that premium money, but actually the cost of the premium is negligible compared to amount that you may have to pay in terms of a hospital bill. Even if you don’t claim for a period of ten years, your investment in health insurance will be a profitable one. Imagine paying Rs. 1200 for 10 years which means Rs. 12000 at the end of the 10 years. On the other hand even a simple hospitalization will come to Rs. 20,000. So in all ways, you will profit. This amount will only increase as the inflation in medical industry goes on increasing. Thus, your investment in health insurance will be an investment in the future, more profitable and guaranteed than other investments you can think of!

To know more see Eligible to Vote? Time to Buy Health insurance!

What is the benefit of buying health insurance at young age?

You are lucky that you are young and healthy, but in few years, your muscles are likely to be replaced by flab and your six pack abs by a fat belly. With jobs, responsibilities and stress, there are chances that health will take a back seat and voila, one day, when you want to buy a health insurance policy you find numerous limitations and conditions to face! You will have to undergo a waiting period for pre-existing diseases and the premium will be high.

On the other hand, when you buy a health insurance policy now, you will have no pre-existing disease, hence mostly all the diseases will be covered. For every year you do not claim, you will earn a discount in the premium or even additional cover on your sum insured. This way, when health insurance really becomes a necessity, you will already have it covered! Smart thinking, right?

To know more see Eligible to Vote? Time to Buy Health insurance!

Why you should buy health insurance when young and healthy?

You are young and healthy and have no care in the world. When the world is full of possibilities and a whole life ahead of you, thinking of health insurance may seem absurd. But buying health insurance when you are young and healthy is a move you will be glad you made…

1.       It’s affordable! Just out of college, working or interning or just chilling out- you are capable for paying your own premium for your health insurance. Health insurance premiums for individuals in their twenties are very less certainly less than or equal to the amount you spend for an average night out (about Rs.1000-1500).

2.       Why burden your parents? Why do you want to burden your parents with the exorbitant hospital bills that will certainly affect their own funds? Of course, they will not have any problem paying for you but it would feel unfair on your part to still depend on them. You can buy a health insurance policy and unburden your parents incase, you need to be hospitalized…

3.       Cover your risk… You are young hence don’t care where you eat from, where you travel, what you do. You don’t take care of your health, don’t bother to go to the doctor and health checkups don’t feature in your ‘to do’ list. On top of these things, in your need to get to things fast, you are a rash driver and a careless pedestrian. Considering all the things that you do, you have a good chance of suffering from ailments or accidents due to your behavior. Considering all this, why not take precaution and minimize the risk…Think about it!

To know more see Eligible to Vote? Time to Buy Health insurance!

What is the waiting period for Pre-existing Diseases?

A pre-existing disease refers to any illness, injury, or medical condition that existed prior to the date of the commencement of the policy. This can include Diabetes, Hypertension or even Cancer.

Treatments for pre-existing diseases are covered and are payable by the insurance company, but only after the policy has been effective for a certain amount of time. Waiting periods for pre existing diseases typically range from two to four years, depending upon the insurance company and the type of pre-existing disease.

For senior citizens though, there are plans that cover pre existing conditions after a waiting period between one to two years as well.

To know more see Waiting period in a Health Insurance Policy