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Top 5 Tips How To Opt For A Cashless Mediclaim Policy

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You get a health insurance policy to support you in a time of emergency. It gets even better if you don’t have to pay anything out of your pocket to get the healthcare you need. This is what a cashless Mediclaim policy makes possible. Here are a few tips to help you opt for the best cashless Mediclaim policy available.

 

Compare policies

There are so many policies available, and they may look similar on the surface. Therefore, make sure that you compare the policies and identify where they differ, what are the unique benefits offered by some.

 

Check for proximity

Cashless facility is offered only at select hospitals. These hospitals are called network hospitals. When you are looking for a cashless Mediclaim policy, it is important to check that you have a sufficient number of network hospitals in your proximity. You do not want to rush across the city just to be at a network hospital in times of emergency.

 

Large network

Of course, you wouldn’t always just need a treatment near your home. It is best to select an insurer who had a large network of hospitals partnered for cashless settlement. This would let you be stress-free even if a medical emergency occurs when you are travelling.

 

Claim settlement ratio

You would want all your claims to be settled in a cashless manner, but there may be times when this would not be possible. You end up paying out of pocket and file a claim for reimbursement. You would want that the insurer settles the claim as quickly as possible. Therefore, check the claim settlement process employed by the insurer and their claim settlement ratio before you decide to buy the policy they offer.

 

Read the terms

This is true for any kind of insurance that you purchase – always read the terms and conditions. Specifically, check for exceptions and sub-limits. For example, you do not want to find out that you will have to pay for ambulance charges out of your pocket in the time of an emergency – such surprises are never pleasant. They can be easily avoided by actually reading the policy terms and conditions.

 

Assess your needs

Even before you start comparing policies, assess your health insurance needs and mark out what are the non-negotiables for you. Would you want a critical illness cover? Would you like domiciliary treatments covered? What about AYUSH treatments? Set your priorities and choose the policy that best meets your specific requirements, even if you have to pay a little higher premium for it.

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