Cashless Mediclaim Policy - All That you Need to Know About it

We often worry about ill health conditions, not so much due to the effect but rather due to the fact that the treatment costs which will probably blow a hole in our wallet. Yes, it is true that medical treatment expenses pertaining to hospitalization costs, medical profession fees, and treatment expenses are expensive. But is that a justifiable reason to forgo medical care? Absolutely not.

To ensure that smooth and proper medical treatment is rendered without any hassles or hurdles, a health insurance policy is there. But first, let us take a brief glimpse at the details and specifications of a health insurance policy. 

Health insurance policy

A health insurance policy essentially covers any medical treatment costs and expenses. It can be due to a detrimental genetic disorder, a disease related condition, or an accidental injury, but the policy-holder can be assured that the costs will all be covered by a health insurance policy. 

The Mediclaim health insurance policy

A mediclaim health insurance policy is a variant of the conventional health insurance which comes with a number of possibilities and advantages. Some of the main benefits of the mediclaim policy are –

l Cashless hospitalization

l Family-wide coverage option

l Quick and easy claims

l Lump sum amount provision irrespective of hospitalization charges

Hold on a second, cashless hospitalization?

That is correct; the cashless mediclaim benefit is a unique feature of this policy. Essentially, the mediclaim policy-holders are able to have the insurance company handle the medical expenses automatically (provided the amount does not exceed the prescribed insurance value).

Here is how it all works –

1. The policy-holder gets admitted to the desired hospital

2. A form is given to him or her which is filled and submitted

3. The insurance provider authenticates the form and processes the same, providing the claim benefits

There is no doubt that the cashless mediclaim policy is able to provide a number of intuitive benefits to the insurer. But is it a viable alternative to regular health insurance? That in the end is for the policy holder/buyer to decide.