Illness, especially the kind that requires hospitalisation, is a stressful time for any family. Today’s rising medical costs have made the process even more taxing.
However, these tense moments related to hospital visits may be a thing of the past, thanks to a concept known as cashless hospitalisation.
Cashless hospitalisation is a service provided by some insurance providers, which allows the policy holder to avail of hospital facilities without having to worry about paying hospital bills. The insurance company coordinates directly with the hospital with which it has a tie up to pay bills that are specified in the insurance policy.
How does it work?
Cashless hospitalisation can be availed in two kinds of situations: planned hospitalisation and unplanned hospitalisation in case of emergencies. For planned hospitalisation, the policy holder needs to send a request to the insurance company for cashless hospitalisation before being hospitalised. In case of unplanned hospitalisation, he can contact the insurance company after being admitted.
In both cases, a certain part of the medical expenses will be paid by the insurance company directly, as specified in the terms of the insurance policy.
Things to keep in mind
· Cashless hospitalisation is applicable only in hospitals with which your insurance company has a tie up.
· Even if your cashless treatment request is approved, certain costs such as the hospital admission fee, ambulance charges, services charges, etc. may be excluded. Check with your insurance company about exclusions in cashless hospitalisation.
· Your cashless hospitalisation claim may be rejected if the illness for which you are undergoing treatment is not covered in the policy.
· Cashless hospitalisation is a service offered by some insurance companies, in association with certain hospitals, which are known as network hospitals
· Through this service, a part of your hospital expenses are borne directly by the insurance company, thus reducing your financial burden