Getting an Effective Heath Insurance

Health insurance policy has become an integral part of urban population. Sedentary lifestyle, rise in ailments, high medical expenditure and inflation have made people look for health care plans for themselves and their family members. Health insurance has made lives of lakhs of people easy by looking after their medical emergency.

Essential look-outs before buying health insurance policy

Cashless hospitalization: This feature is one of the major reasons in making health insurance policies popular with the masses. If an emergency hospitalization takes place, it becomes difficult to arrange for a huge amount of money to avail treatment. Hence, if your policy provides cashless facility the treatment is offered without you having to arrange for finance as the bill is directly settled between the hospital and the insurance company.

List of network hospital: The more the numbers of hospitals on network, the more are the chances to avail cashless treatment. As cashless facility is extended in network hospitals only, hence it is good to have maximum number of hospitals on network.

Claim settlement ratio: Claim settlement ratio is very important before you select an insurance provider. The higher claim settlement ratio indicates the worthiness of the policy. Do inquire about the settlement ration before opting for health provider

Claim settlement process: The claim settlement process should be well-specified and easy otherwise, it may physically and mentally exhaustive to get back the treatment amount from the insurance provider.

Seeking health insurance claims settlement

There are two ways claims are settled by an insurance company:

Cashless settlement: If the treatment is availed in network hospital it does not call for bill payment from your pocket. The hospital authorities get in touch with the insurance company to seek approval of the treatment cost. The insurance provider after verifying the policy details sends intimation to the hospital staff to proceed with cashless settlement. You just need to intimate the insurance provider about the hospitalization and show your healthcare card to the hospital administration staff. Rest all is taken care by hospital and insurance company.

Reimbursement claim: If you avail treatment in non-network hospital, the cost of treatment needs to be borne by you initially. Once you are discharged from the hospital after settling the bill you need to file reimbursement. Keep all the bills in original intact as they need to be submitted while filing a claim. There is a set time limit in which the documents need to be submitted post-discharge. Get in touch with the customer care executive to understand the claim process thoroughly to get the reimbursement claim at the earliest.