The healthcare industry has recently witnessed a significant shift towards cashless health insurance settlements. This trend is driven by the convenience and ease of using digital payment methods, making it more convenient for patients to access quality healthcare services without worrying about upfront payment. However, settling health insurance claims can be daunting, especially for those unfamiliar with the process. In this article, we will outline five steps to help ensure a smooth cashless health insurance settlement.
Step 1: Choose the Right Health Insurance Plan
The first step to a smooth cashless health insurance settlement is to choose the right health insurance plan. There are several factors to consider when selecting a health insurance plan, including the coverage amount, network hospitals, and the claim settlement process. Also, compare the health claim settlement ratios of different medical insurers to determine the likelihood of future claim denial.
It is also critical to read the policy document carefully and understand the terms and conditions before deciding. All these will help ensure that you are aware of the coverage and limitations of your health insurance plan.
Step 2: Check the List of Network Hospitals
Once you have selected health insurance online, the next step is to check the list of network hospitals in your city. Various health insurance companies have tie-ups with advanced hospitals but not with those in small towns. If you live in a rural area, paying attention to this aspect becomes even more crucial. The reason is that having a nearby hospital at a distance of around 100 km renders your policy useless if a medical emergency arises and you do not have enough cash in hand.
Considering this step will help you avoid the hassle of making a reimbursement claim later.
Step 3: Notify the Insurance Company
The third step in the cashless health insurance settlement process is to inform the insurance company about your hospitalisation immediately after filling out the admission form. You can do this through the insurer’s website or customer care helpline. You will need to provide your policy number and details of your hospitalisation. If everything is in order, the insurer will verify the details and approve the cashless claim.
If the policyholder fails to complete these formalities due to a medical condition, the third-party administrator of your insurer based in the hospital will handle the claim process.
Step 4: Submit the Required Documents
Once the cashless claim is approved, the next step is to submit the required documents. These typically include your health insurance policy document, ID proof, hospitalisation certificate, medical reports, and bills. Ensuring that all the documents are in order and submitted on time is vital to avoid delays in the settlement process.
Step 5: Await Settlement
The final step in the cashless health insurance settlement process is to await settlement. The insurer will settle the claim directly with the hospital, and you will not have to worry about making any payments. However, you must note that there may be various expenses your insurer does not cover in the standard plan or could have a cap or limit on them. These may include room rent, ambulance charges, and cosmetic treatment. You will be required to settle these expenses directly with the hospital. You should be aware of your policy’s inclusions, exclusions, and limitations.
Final Words
Cashless health insurance settlements have made it easier for patients to access quality healthcare services without worrying about upfront payments. However, it is important to follow the right steps to ensure a smooth settlement process. Choosing the right health insurance plan, checking network hospitals, notifying the insurance company, and submitting the required documents can ensure that your cashless health insurance settlement is hassle-free. Remember to read the policy document carefully and understand the terms and conditions to avoid any surprises later on.
