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Claim settlements for Health Insurance | Tips & Advice

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“Health is wealth”. You might have heard this phrase before, but have you ever considered it on a serious note? Most of us make wealth our prime focus while health takes a back seat.

If you are one among these, then investing in a health insurance policy can come to your rescue in times of need. In a health insurance policy the insured pays certain amount called the premium and in turn the insurer commits to take care of the medical expenses of the insured and his dependants.

This policy protects you and your family from falling into any financial crises due to any medical emergency.

Most of the insurance plans have a maturity period after which you can claim the amount; health insurance policy does not follow this norm. While most of them consider this a disadvantage, let’s look at the positive side of it and that is, with this plan you can live a peaceful life without thinking about any uncertainties as it covers the medical and hospitalization expenses of the insured and his dependants even after the death of the insured.

Types of claim:

Cashless claim: if you want to obtain this facility then you need to know the list of network hospitals that offer medical service you need. This list will be enclosed with your policy.

Once this is done you just need to sign the bill at the time of discharge of the hospital will settle the amount with your insurance company. Claims are of two types under cashless claim; they are planned claim and emergency claim.

Reimbursement claim settlement process: This facility is available in all the hospitals.

The reimbursement process is as follows:

1. The patient avails the treatment from any of the network or non network hospitals.

2. He/she settles the hospital bills.

3. Call your insurance company or the third party company that works on behalf of your insurance company and inform them of the hospitalization.

4. Submit all the documents required to claim the amount.

5. Once this is done according to your insurance policy, the company will settle the amount is a couple of days.

Do not waste any more time in getting a health insurance plan for you and your family. This one step will help you live a tension free and peaceful life.

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