Imagine someone in your house facing a medical emergency. You must provide him/her immediate medical treatment, but you are short of money. In this type of situation, Cashless Health Insurance or Cashless Mediclaim come into play where the insurance company settles the bill for you. This facility is accessible only if you are a policyholder. The cashless insurance policy ensures the best medical treatment without any financial stress.
Why is cashless health insurance necessary?
Health is the most important asset for any individual. Cashless insurance is very beneficial when you require medical treatment, but you don't have the funds to pay for it. It is a worthwhile consideration because:
- Cashless insurance lessens stress while dealing with a medical emergency. It takes away the immediate financial strain of medical expenditures.
- You get the immediate treatment and diagnosis that is required.
- The claim process for cashless mediclaim does not take much time.
- Provision of the best medical care is ensured due to the hospital network made by the insurer.
- The plan covers pre-hospitalisation and post-hospitalisation costs. It also covers specialised treatments like dialysis, chemotherapy, surgical costs, lodging costs (per policy), and other day-care costs.
- You can also enjoy tax deductions under Section 80D of the Income Tax Act, 1961.
These are the key features of a cashless health insurance policy. It can benefit you hugely at unexpected times, which makes it a necessity for every individual and their family.
Exploring the best cashless health insurance in India
In India, cashless health insurance is a lifesaver when sudden medical costs pile up like mountains of debt. By choosing the right policy, you can secure any medical emergency financially. Mentioned below are the key factors that you must keep in mind while buying cashless insurance:
1. Know your needs:
Be clear whether you need an individual (child, adult or senior citizen) or family coverage. What is the maximum coverage amount you expect? Are you in need of maternity benefits or particular disease coverage? The search process is more effective when there are clear answers.
2. Network Hospitals:
The smoothness of cashless mediclaim depends on the number of network hospitals the insurer has around your residence. You can ensure yourself quality healthcare by choosing an insurer with a hospital network near your residence.
3. Exclusions and Coverage:
It is very important to check what components are covered and excluded under a policy. A cashless mediclaim generally covers emergencies like surgery, medicines, hospitalisation, etc. The common exclusions are self-inflicted injuries, cosmetic treatments, chiropractic care, etc. Read the exclusions and inclusions carefully.
4. Claim-settlement ratio:
Select an insurance whose claim settlement ratio is high, as this indicates that they settle claims quickly. A good ratio is one that is higher than 80%.
5. Premiums and no claim bonus:
Compare premiums across different plans, accounting for your budget and coverage needs. No claim bonus (NCB) is a reward you receive from your insurer for not making any claims during a policy year. This can offer you lower premiums and increased coverage.
6. Claim process:
The cashless claim process must occur quickly and in a smooth way. A smooth cashless claim process eliminates the worry of paperwork and funds, allowing you to focus on your healthcare.
7. Add-on covers:
Add-on covers are additional coverage to your standard plan. It offers you enhanced protection and cost-effective access to additional healthcare benefits.
Other factors that you can check for are deductibles, extra perks, budget, and renewability. Based on these factors, a list of the top 5 cashless health insurance in India is made.
Best cashless health insurance plans offered by Generali Central
A cashless insurance is called the “best” when it meets the expectations of the customer. Generali Central offers a range of cashless health insurance plans that cater to different needs and budgets. Some of the notable plans are:
1. Health Elite
- You get a higher sum insured than a standard plan that covers global treatments, OPD expenses, home visits, air ambulance, etc.
- The plan covers up to 15 family members, ensuring your family’s safety.
- You also get tax benefits.
- The plan offers physical and mental health coverage.
- You get added benefits like free health checkups, mental health guidance, a daily fitness tracker, wellness content and discounts on health brands.
- It also offers coverage for a newborn baby under the mother’s policy.
3. D.I.Y Health
- On buying D.I.Y Health, you get 17 assured base covers.
- The plan covers pre-hospitalisation expenses for up to 90 days and post-hospitalisation expenses for up to 90 days.
- You also get coverage for modern treatment methods, gender reassignment surgery, LASIK surgery, OPD cover, ICU charges, psychiatric conditions and more.
The above-mentioned healthcare plans are made to improve your and your family’s healthcare experience. Choose the best cashless health insurance plan today!
