Looking at 4 Benefits of Cashless Health Insurance

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Looking at 4 Benefits of Cashless Health Insurance
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One of the biggest difficulties one suffers
during medical emergencies is the worry of
arranging high amounts of cash to pay for the
treatment of the patient. This pressure of paying
heavy treatment costs often leads to more stress
for the patient as well as the caretakers.
Nowadays, there is one solution to this problem
that is fast catching up - cashless health
insurance. In this type of health insurance plan,
the payment is handled directly between the
insurer and the hospital. In this article, we
look at 4 benefits a cashless health insurance
plan can bring to you. 
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1. You do not have to pay cash upfront   Cashless
health insurance eliminates the need to pay cash
upfront for the treatment of the insured members.
When the insured is admitted to a hospital or
undergoes any procedure included in the policy,
all they have to do is contact their insurer.
Hospitals often have a desk where they accept
requests for cashless treatment. All you would
have to do is fill a form and provide important
details. The payment will then be handled between
the insurer and the hospital. It is to be pointed
out that you will have to pay any deductibles,
co-pay or other out-of-pocket expenses as
mentioned in the policy.   
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2. Makes you eligible for treatment at quality
hospitals    One can avail cashless treatment at
a medical facility only if its affiliated with
the insurance company in this regard. Insurers
keep updating the list of their affiliated
hospitals at regular intervals to ensure that
their policyholders have access to the best
hospitals only. With a cashless health insurance
plan in your name, you and your loved ones can
avail treatment at these top-rated hospitals
without having to pay large amounts of
cash.    3. Covers you when you are
travelling   When you are choosing a health
insurance plan, make sure to choose an insurer
that is affiliated with a large number of
hospitals all around the country. This would
benefit you highly when you are travelling. If
you are on the road and suddenly require urgent
medical treatment, you can go to the nearest
network hospital and get quality treatment
without worrying about cash.  
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4. Faster claim settlement process   When you
raise a claim on your regular health insurance
plan, you have to wait for several days before
the reimbursement happens. The duration may
differ from insurer to insurer, but usually there
is waiting involved. Now, in a cashless health
insurance plan, the waiting period is waived off
as the payment is made by the insurer to the
hospital as per their discussions.   
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Things to keep in mind when choosing a cashless
health insurance plan   1. Select an insurer with
a high claim settlement ratio. When coupled with
a large number of network hospitals, it will make
your entire claim process easy and fast.    2. Be
informed about your TPA. They will be the one you
will have to contact when you want to raise
claims or have any problems during
settlement.    3. The insurer you choose should
have excellent customer service. If you have any
problems with your cashless health insurance
plan, you should be able to reach out to your
insurer immediately. A good insurer will address
and resolve your issue on due time. 
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Not all health plans offer cashless treatment.
Benefit-based policies which provide the insurer
a lump sum payment may not be eligible for this
facility. For instance, a critical illness policy
will not go along with cashless treatment as the
payment is made in lump sum at the diagnosis of
the illness.    The features of various cashless
health insurance plans may differ from insurer to
insurer. 
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