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Wednesday, March 2, 2016

Cashless Hospitalization In India


Planned investments can also be termed as insurance. Insurance is devised to look after the future based investments. Many people tend to believe in present and don't want to spend much on something that is going to benefit them in future. Hence, many insurance seekers opt for buying cheap insurance options. Though these plans also provide cover which is quite alright,but extended coverage is not provided. Life gives many surprises, but all the surprises are not pleasant, so are the unexpected medical bills. If you carry sufficient health insurance coverage or at least a basic mediclaim policy, you will not be taken back by the sudden need of making medical expenditure.

Cashless hospitalization is the basic feature that is normally covered under every kind of health policy. It works well when the situation calls for immediate hospitalization needs. However, many of us are not able to understand the course of our action during these urgent moments.

Here we are going to discuss the basic details about the cashless hospitalization and how can one utilize the feature to haul the best out of it.

Let us first understand how the cashless hospitalization works.

How does cashless hospitalization work?

The term stands for the service provided by the insurance company through the appointed third party administrators (TPAs). After you sign your health insurance documentation, your insurer provides you a list of hospitals empanelled with the company that you need to approach in case you require to get hospitalized.

You need to use the facility while getting the admission in the network hospital by contacting your insurance company's TPA, who in turn co-ordinates with the hospital and your insurance company to directly settle your medical bills.

Procedure to avail cashless benefit

In order to avail the cashless facility you need to follow a set procedure.

  1. Though certain unfortunate situations demand you to take immediate action, the cashless procedure directs you to inform the TPA before getting hospitalized and confirming the name of the hospital you choose, to be the one out of the empanelled list. In case, you miss to do that, make sure you do the needful within 24 hours of the hospitalization.

Updating the TPA of the situation will ensure that you do not face any difficulty in getting pre-authorization approval and you smoothly get through the formalities to avail cashless facility.

  1. When you take the admission into the hospital, you need to show your health card that contains all the details related to your health insurance policy such asnameof the insurance provider and type of the health insurance policy.
  2. Subsequently, you are required to obtain and fill the pre-authorization form and submit it to the hospital staff.Pre-authorization formcan be obtained at the hospital reception desk or from the TPA's website.
  3. The hospital confirms your details by getting in touch with your insurance company's TPA, who then approves the request by providing the authorization letter withpermitted amountfor the treatment.
  4. Then, you can follow up with the TPA to know the status of your request and move further with the treatment requirements.

Cashless hospitalization is a big advantage a policyholder can get through his health insurance policy. However, he would be able to make the most out of this feature only if he is aware of various provisions and if he follows the right procedure. Availing the cashless facility will not only make the entire process of hospitalization hassle-free but the policyholder will be able to get the best treatment under the lowest possible cost.

All these feature maybe a part of a plan but not of every plan. One must need to understand in depth the terms and conditions of the plan.

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