There is no denying how important ahealth insurance policy is. It provides financial support to you and your loved ones in the time of medical urgencies. Among the various advantages that a medical insurance has, Cashless Treatment is one of the best.
Cashless Treatment reduces the financial burden as you don’t have to worry about the medical expenses and hospitalization bills. Your insurance provider settles the bill directly with the network hospitals, all you need to worry about is your recovery. Let us understand cashless treatment briefly:
What Are Network Hospitals?
When a hospital ties up with an insurance company to provide cashless treatment for its policyholders, then that hospital becomes a part of the insurer’s network hospitals. The insurance company settles bills directly with the network hospitals.
At the time of buying ahealth insuranceonline, your insurance provider will give you the list of their network hospitals, from which you can get cashless treatment.
How Does Cashless Treatment Works?
If you opt for cashless treatment, your medical expenses and hospitalization bills will be directly settled by your insurance provider with the network hospital. Therefore, you don’t need to pay anything from your pocket.
However, it is your responsibility to get treatment from the network hospitals of your insurance provider to avail the benefit of cashless treatment. Make sure you check the list of your insurer’s network hospitals.
Once you are in network hospitals, now it is time for you to display your health insurance card and fill a pre-authorization form. Your doctor will also fill certain details and then this form will be sent to the Third-Party Administrators or TPA for sanctioning. After successful verification, the hospital gets approval for treatment. After all the verification, you don’t need to worry about the expenses and can only focus on the recovery.
Benefit Of The Cashless Treatment
Opting for cashless treatment is popular among people because of the reason mentioned below:
- Reduces Financial Burden
Cashless treatment is useful in medical emergencies as the patient being brought to a hospital may not be able to arrange the necessary funds in a short time. Hence, opting for the cashless treatment will surely reduce the tension to meet your healthcare expenses.
- Coverage During Travel
Let’s say while you are traveling, and you face a medical emergency. Being in an unknown place, you may not have acquaintances to help you out. However, if you have opted for cashless treatment, you can simply visit the network hospital of your insurer in that area and take the benefit of cashless treatment.
- Peace Of Mind
Instead of worrying about paying the hospitalization bills and medical expenses, you can focus on your speedy recovery and can receive quality treatment. This surely will give you peace of mind.
- Tax Benefits
You will be eligible for tax benefits on the premium paid towards the health insurance policy under Section 80D of the Income Tax Act 1961.
You should keep the aforementioned benefits in mind and opt for cashless treatment, as it ensures complete treatment, without worrying about the finances.