Health is an integral part of one’s overall lifestyle. Living a healthy lifestyle can help prevent chronic diseases and long-term illnesses. Feeling good about yourself and taking care of your health is important to build self-esteem and self-image. And to ensure the safety of health there’s no better option than a “Cashless Health Policy” in this busy world. By availing of the cashless health insurance plan, the policyholder has the right to take cashless treatment at an insurer’s network hospital. In case of cashless treatment, all the medical bills are settled between the insurer and the hospital. So, it also becomes hassle-free work for any patient.

Why Choose a Cashless Health Insurance Policy for Your Family?

In this busy lifestyle, the occurrence of a medical emergency can knock at the doors at any point of time. It can land up in a worrisome situation if it’s required to arrange a huge sum of money instantly for medical treatments. So, it’s beneficial to get covered under Cashless Health Insurance Policy. The insurance provider offers a wide network of hospitals in the country.

Let’s Take a Look into Numerous Other Benefits of a Cashless Health Insurance Policy.

  • With a cashless facility, one can get the benefit of immediate treatment as one can get admitted to any of the network hospitals. Only prior information is needed to the insurance representative as soon as possible and posts that the entire process becomes highly convenient.
  • There are several quality checks, which help in ensuring that the policyholder gets good treatment at a reputed hospital before registering with any hospital. So, you get expert advice from trained medical professionals and receive advanced treatment without having to pay cash.
  • In case of a cashless claim, the documentation involved for the policyholder is less than compared to any reimbursement claim as the insurance company and the hospital settle the bills between themselves.
  • The premium paid for health insurance is exempted from taxes under Section 80D of the Income Tax Act. So, apart from getting peace of mind, you get to reduce your tax liabilities too.
  • The expenses of both pre and post-hospitalization are covered, which includes diagnosis, treatment, medical expenses, doctor’s fees, etc. according to the capping as per the chosen policy. Special treatments like dialysis, chemotherapy, surgery expenses, room expenses (according to policy) and other daycare treatments are also covered under cashless insurance.
  • With a cashless facility, you get the assurance that your savings won’t be drained to meet medical expenses. Secondly one doesn’t need to rush for loans in order to pay the hospital charges.

Top 5 Cashless Health Insurance in India

ICICI Lombard Health Care Plus

The ICICI Lombard Health Insurance is a highly popular plan as it’s the best cashless medical claim policy for a family in India. It’s very flexible when it comes to incurring any huge amount of figure. This policy, which is offered by ICICI (Industrial Credit and Investment Corporation of India), offers a cashless treatment within four hours. Following expenses are covered under this cashless policy:

  • Post and Pre Hospitalization bills
  • Room rents
  • Diagnostic expenses
  • Doctor’s fees
  • Daycare treatment

HDFC ERGO Optima Restore Health Insurance Plan

The HDFC ERGO is a highly appreciated cashless health insurance plan in India. It offers two variants of cashless plans - “Optima Restore Family” and “Optima Restore Individual” respectively. As the word “Restore” suggests in its name; the sum gets restored to the policyholder even if the person hasn’t utilized it fully. Moreover, in case the policyholder hasn’t made any claim on the policy taken then the assured sum gets increased by 50% more than the previous one. With over 10,000 hospitals under its network, HDFC ERGO Optima Restore Health Insurance Plan provides daily allowances of Rs800 to Rs6000 during hospitalization. So, observing this wide spectrum of benefits, it’s immensely helpful in fulfilling the needs with respect to any future medical contingencies.

Niva Bupa Health Insurance Plan

Niva Bupa Health Insurance (formerly known as Max Bupa Health Insurance) is one of the most trusted standalone health insurance plans in India. Having curated with affordable and comprehensive healthcare policies it caters to the different needs of the customers. It aims to give every Indian the confidence to access the best healthcare by providing affordable plans for all income groups of people (from lower to higher). Its innovative and comprehensive ideas of policy plans have made it one of the leading health and medical insurance companies in India.

Care Plan by Care Health Insurance

The Care Health Insurance Care Plan is also regarded as the best medical policy plan in India. The only limitation of this plan is that it has set its own final figure of 75 Lakhs (Seventy-five Lakhs. Any expenses beyond this coverage figure are charged to a person from their pocket separately. Maternity coverage of 1 Lakh (One Lakh) rupees is an inherent part of this Care Plan which is reliable for any family.  In case the policyholder doesn’t make any medical claims for consecutive five years then the assured figure may increase by 150% under which the policyholder becomes eligible to incur any expenses even beyond 75 Lakhs. With over 10,000 hospitals in its cashless network, it offers a special plan called “Floater Plan'' under which the policyholder can cover any family member or any friend.

Bajaj Allianz Health Guard Family Cover

The Bajaj Allianz Health Insurance offers a health plan named “Bajaj Allianz Health Guard Family Cover” at a slightly cheaper assured figure i.e., between 5 Lakhs to 50 Lakhs compared to other cashless health insurance plans. Under this policy, one can avail of cashless treatment facilities at about 6000 hospitals across the country. This plan even provides a pre-hospitalization coverage of 60(sixty) days and a post-hospitalization coverage of 90 days.

It provides all the expenses under its coverage in the areas such as:

  • Daycare treatments
  • Ambulance
  • In-patient hospitalization
  • Advanced treatment
  • Donor transplantation

Apart from all the above, this plan even offers a renewal feature as per customers’ demands and requirements. The minimum age of entry for this policy is 18 years and the maximum age is 65 years. The normal waiting period to run this policy is 30 days which may extend up to 3 (three) years in case of any pre-existing illness.

Key Takeaways

In case anyone is on a family vacation or trip in a different region and somehow it got that person to enter into a medical contingency accidently then cashless health insurance is in your wallet and one can easily find their way out in such critical situations. Some health insurance companies might provide medical coverage even when a person is located in a different country. So, make sure about this information diligently from the respective policy company before moving out to any other location.

FAQs - Frequently Asked Questions

Q1. Is it necessary to know about the assured figure limitation of any cashless health insurance plan?

Ans: Yes, it’s important to know about the assured figure before availing of any cashless health insurance because it will help you to incur those expenses in future based on your earning income.

Q2. Is it crucial to know the names of hospitals that will be covered under a cashless health insurance plan?

Ans: Since “Health is Wealth” which can’t be compromised ever in life therefore it’s must for a person to know about the hospitals where they will be treated in case of any medical contingency in future for one’s own knowledge and satisfaction. It can give you an idea of renowned doctors too which would be more beneficial.

Q3. Can a policyholder have medical treatment in another hospital that doesn’t fall into its network plan?

Ans: Before availing any cashless health insurance plan, it’s vital to check the names of all networked hospitals. However, there can be some other way of claiming medical claims in case the person is somehow getting treated in a non-networked hospital.

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