Are Health Insurance Claims Time Bound?
8 Feb 2018
Wondering If Health Insurance Claims Are Time Bound? Here’s a Lowdown on How These Claims Are
Health insurance helps you stay prepared for unforeseen medical emergencies. Depending on the plan you take – individual health insurance or family health insurance – you and your family can be safeguarded against such instances. It is natural to expect your health insurance policy to stand by you when you face the test of time. They do; however, you must follow their claim procedure to avail of the benefits.
You don’t need to be intimidated by health insurance claims, as they are relatively easy to process. Health insurance companies understand that when a medical emergency strikes, it is important for you to rest or be with your family in the hospital, depending on the situation. For this very reason health insurance companies appoint dedicated claims handlers, who can guide you through this stressful situation.
You can opt for a smooth cashless claim process through network hospitals your health insurance provider offers. When you buy health insurance online, ensure to check for this facility. If it’s a planned treatment, to avail the cashless facility you will have to inform your health insurer about this at least 48 or 72 hours prior to the procedure. On the other hand, if it’s an emergency, you will have to inform your health insurer about this 24 hours after the hospitalization.
If you’re not in a frame of mind to enquire for this facility, you can claim your health insurance within a fair time limit. For instance, if Vijay has had an accident, he or his family should inform the health insurance company within a reasonable period. Vijay needs to file for his health insurance claim 15 days after he has been discharged from the hospital for the reimbursement to happen.
If he anticipates a treatment, he should let the insurance company know a few days prior to the treatment.
As the insured, you need to submit your policy document to the insurance company, photo id and all the bills received from the hospital. This could also include medicine bills, doctor’s reports and any other document that would have been listed at the time you purchased the health insurance policy.
Usually, the claim process takes about 21 days for reimbursement after the health insurance company receives all the policy documents and medical bills.
Why do health insurance companies have a time-limit for the claim process?
To ensure that fraudulent claims can be avoided under all circumstances. If people submit claims years after their treatment, it becomes difficult for a health insurance company to find out whether it is a valid claim.
When you claim for health insurance, understand the process by seeking advice from your dedicated claims handler. He or she can clear any doubts you have and help you through the process smoothly.
Why choose Bharati AXA Health Insurance
With health insurance plane, financially secure yourself and your family at affordable premiums