Quick guide to Cashless Hospitalization

Health insurance

With the world going digital in every way, one thing that has changed the way things work around money is going cashless. Every industry in some way or the other deals with cashless transactions and that has made life so much easier for many. You no more need to rush to an ATM to withdraw money and make a payment. Given this scenario, the medical industry is not far behind at all. Here are a few things that you need to be aware of about cashless hospitalization:

Firstly, what is cashless hospitalization?

In some cases, the health insurance coverage does not cover all your medical costs. You will need to pay some additional charges involved. Cashless hospitalization is a cover in your health insurance plan that offers a benefit of this amount to be reimbursed to you, without any waiting time. The insurance company deals with these payments directly, thus, you are not required to pay any of these additional medical bills. Simply saving these medical bills and submitting them to the insurance company is all that you need to do.

However, it is important to note that cashless hospitalization is a separate health insurance cover and not all insurance policies have it inbuilt in them. Moreover, the benefits of this cover can only be availed in certain hospitals that the insurance company is tied up with. These hospitals are known as network hospitals in the industry. Every insurance company holds a network of hospitals in their plans where you can make use of cashless hospitalization. You just need to make sure that your preferred choice of hospitals is on the list of network hospitals signed with your insurer in order to get your treatment cashless. This is a useful cover for health insurance for senior citizens as it takes off the hassle of running around from their shoulders.

Secondly, what are the benefits of cashless hospitalization?

  1. Cashless hospitalization takes away the burden of sudden medical expenses and helps you carry out the treatment without any hurdles.
  2. All medical expenses are included in this cashless system and thus, it is one of the most useful covers in medical policy for family.
  3. Certain insurance companies offer an advantage of making use of the cashless hospitalization cover even when you travel to other places outside the country.
  4. Tax benefits can also be claimed on cashless hospitalization.
  5. Most insurers also offer free medical check-ups for the insured after being discharged under post-hospitalization care benefits.

Finally, how can you choose cashless hospitalization?

Cashless hospitalization can be carried out in two ways; Planned hospitalization and emergency hospitalization. There are different ways to deal with these two types of hospitalization when it comes to availing the benefits of cashless hospitalization.

All in all, cashless hospitalization turns out to be a boon in more ways than one. You need not worry about money in hand and can focus on the treatment for you or your family at that point of time. Ensuring that your plan offers this cover is one of the main criteria while choosing a health insurance plan. These are all the things you need to know about cashless hospitalization and how it works.

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