A sedentary lifestyle, increased junk food consumption, and pollution are factors responsible for rising health ailments in the past few decades. This makes health insurance a need and a must-have in recent times. Even a short visit for minor treatment can be expensive. To avoid these skyrocketing medical expenses, having health insurance can be useful. But not all claim experiences are butter-smooth. Sometimes, a few hiccups can cause aversion from making health insurance claims.
Health insurance claims are of two types – cashless and reimbursement. The insurance company settles a cashless claim at the network hospital, a preferred medical facility by the insurer. Cashless claims are settled faster than reimbursement since the process is shortened with the insurance company directly paying for your treatment to the hospital. Cashless claims are settled faster than reimbursement since the process is compressed, with the insurance company directly paying for your treatment at the hospital. For the reimbursement method, the bill must be paid by you first, for which the insurance company will follow a payout later.
Let us look at a few tips that will help you settle these claims seamlessly –
Ensure you maintain complete transparency with your insurer when buying insurance coverage. Do not hide or conceal any information about pre-existing diseases to lower your insurance premium. It can have a negative impact by way of rejection of your application at a later date.
#2 Familiarise yourself with the policy coverage
Individual health insurance, family floater plans, critical illness insurance, etc., have pre-defined coverage per the policy terms. It is defined under the inclusion and exclusion clause of your policy. The insurer settles any event within these terms and conditions without any hassles. On the other hand, those treatments specified in your policy’s exclusions list are not processed for pay-out. Familiarising yourself with these terms can help you smoothly settle your claim.
#3 For which treatments to make a claim?
Those employed in the corporate sector can benefit from group insurance coverage. These insurance plans cover the employees as well as their families. Since these are based on insurance covers and are not customizable, individuals prefer to purchase health insurance plans for family or individual bodieses. When raising a claim, it is advisable to utilize the group insurance plan first and then follow the family insurance policy. This way, you can take maximum advantage of benefits like cumulative bonuses offered by insurance companies.
#4 Thorough documentation
Whether you are choosing the online route or making an offline claim, having all the necessary documentation is critical. These documents include hospitalization bills, bank details for transferring the claim amount, and other treatment costs covered under your insurance plan. This documentation helps your insurer verify all details and process your claim swiftly.
#5 Seek help
Lastly, you can contact your insurance company’s helpline number or your concerned insurance agent in case of any concerns. They help you in resolving your queries and help you process your claim in a hassle-free manner. These handy tips will help you bypass any difficulties and ensure an effortless claim settlement process. Make sure to meticulously read the policy document and address any queries at the initial purchase time.