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3 Reasons Why We Need Cashless Health Insurance

Cashless Health Insurance

At any stage of life, health complications can occur. There may be a sudden medical emergency that requires you to arrange funds within a short notice. However, you may not always be able to meet the hefty medical expenses in a time of need like this. Hence, it is crucial to stay prepared for such situations in life by investing in cashless health insurance.

With cashless health insurance, the insurance provider can settle the medical bills with the hospitals directly to cover the treatments availed by the insured person. With medical inflation in recent years, cashless health insurance is an essential feature that a health insurance policy must cover. This makes sure that you can focus on the treatment of yourself or your loved ones without worrying about the finances.

Health insurance is quickly becoming one of the most crucial investments in one’s life due to the increasing instances of diseases and medical inflation. Hence, it is important to understand features like the cashless facility appropriately so you can make the most of your policy once you have purchased it.

Cashless Health Insurance- Why? 

You do not have to worry anymore about arranging finances to pay for exorbitant medical treatments. Cashless health insurance has got you covered. A cashless health Insurance policy is an armour that protects you in times of need. You do not have to stress over the medical emergencies that may occur. Hospitalisation, daily cash allowance, ambulance cover, second opinion and more are all covered under this policy. 

  • With a cashless health insurance facility in your plan, you can skip the hassle of arranging money to pay the hospital bills.
  • Care Health Insurance directly settles the expenses and claims with the hospital, abiding by the policy terms and conditions.
  • This is the most convenient way to pay for medical treatment. It saves money, time, and effort. 

Buying Cashless Mediclaim Policy Online- Benefits 

Today, buying cashless health insurance is easier than ever. You can purchase it from the comfort of your own home. Such a policy will give you and your family access to multiple benefits. Some benefits of buying cashless mediclaim policies are-

  • With just one click, you can get access to all health plans and their details
  • You can compare the policies and find the perfect one for you
  • You can select the minimum premium that best suits you and your needs
  • It allows you to avail maximum coverage with your plan
  • You can check the Incurred Claim Ratio Rate quickly

Features of a Cashless Health Insurance Policy 

  • Immediate Treatment: With cashless health insurance, you can simply inform the insurance desk/TPA desk about your hospitalization and receive immediate treatment.
  • Tax Benefits: Every individual can claim a deduction from their total income for medical insurance premiums paid in any given year under Section 80D. This deduction is also available for top-up health plans and critical illness plans.
  • Peaceful Mind: With cashless health insurance, your worries decrease drastically. It gives you a sense of safety and peace of mind.

How to select the best Cashless Health Insurance? 

Before selecting the cashless mediclaim policy, it is important that you select one that covers the maximum treatments. Below listed are some points you must consider while opting for a cashless health insurance policy-

  • Sum Insured: You must select a plan that gives the highest coverage while still being within your budget.
  • Maximum Renewability: Your cashless health insurance policy must have a high renewable age, especially if you are picking mediclaim for your parents.
  • Co-payment: With a co-pay clause, the policyholder pays for a portion of the medical expenses by themselves, and the insurance provider pays the remaining amount.ence, it makes sense for you to select a plan with lesser co-payment.
  • Day-care treatments: Daycare treatment refers to the medical procedures that do not require hospitalization for more than 24 hours. While selecting a policy, make sure that day-care treatment is covered by the plan.
  • Impaneled hospitals: Your treatment must always be at a network hospital since cashless facility can only be availed at a network hospital.

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