Cashless Health Insurance: Meaning, Process, Benefits

We buy health insurance online for the financial support it offers in the event of any medical emergencies. A hassle-free network hospital bill settlement is something the insured expects after a trying network hospital stay, and all bills are paid directly by the insurance company to the networked hospital.

A cashless insurance policy offers immediate access to medical care without worrying about paying for network hospital bills or other medical expenses. Because of this, most insurance companies have begun offering numerous benefits with cashless mediclaim policies. Claims are subject to terms and conditions set forth under the health insurance policy.  

How Does Cashless Health Insurance Work?

Under cashless health insurance, the insurance company, not the insured, pays all medical bills in full. The hospital of choice must be a network hospital, and the total cost of any medical or hospitalisation expenses must not exceed the sum assured coverage. Claims are subject to terms and conditions set forth under the health insurance policy. 

This type of insurance is very advantageous in the event of anticipated or unanticipated medical emergencies. Because the insurance provider covers all hospitalisation and treatment costs upfront under a cashless policy, you have more time to focus on other crucial issues like making plans for the treatment or completing network hospital admission formalities.

What Is The Process Of Cashless Health Insurance?

Health insurance companies collaborate with network hospitals nationwide after evaluating their standard of care, standing in the community, costs, and scope of services. These are called networked hospitals, and the insurance companies have thoroughly vetted them.

Only the network hospitals accept cashless insurance. As a result, you will always have the choice to be admitted to one of the networked hospitals to take advantage of the cashless facility. For this, a designated TPA (third-party administrator) is in charge of organising with the network hospital and handling the insurance company’s settlement of your claims. Your cashless insurance claims are also approved or denied by this TPA.

However, the insured may also receive care in a hospital, not the network. However, in this instance, the policyholder must pay the bills in full before requesting reimbursement from the insurance provider. Keep all of this in mind when you buy health insurance online.

Cashless Health Insurance Benefits

• Access To Quick Care: If you have a cashless healthcare system, obtaining prompt care without worrying about astronomical network hospital costs is straightforward. Notify the network hospital’s help desk.      You can also access your insurance using an app for health insurance. Claims are subject to terms and conditions set forth under the health insurance policy. 

• Benefits In Full: A cashless health plan is a practical way to use your health insurance. One can also take advantage of all the full health insurance benefits, including the payment of medical bills, complete ambulance expense coverage, and more. Claims are subject to terms and conditions set forth under the health insurance policy. *

• Obtain Coverage While Travelling: Medical problems can also occur while travelling. However, if you have a cashless insurance plan, you can easily access medical care at any nationwide hospital in the network. Stay connected with your insurance using a health insurance app on the go. *

• Tax Savings: You may also be eligible for tax savings because Section 80D of the Income Tax Act exempts the premiums paid for cashless health insurance policies for families, individuals, or senior citizens from taxation. **

Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.

*Standard T&C Apply

**Tax benefits are subject to change in prevalent tax laws.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.