10 Best Cashless Health Insurance Plans
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14 December 2021
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15 December 2021Considering the rising medical expenses, Mr Jaiswal is planning to obtain health insurance for himself and his family. However, to secure his finances during medical emergencies, he prefers cashless health insurance policies rather than a reimbursement plan.
In this regard, he might want to consider the best cashless health insurance policies available in India. As there are several reputed insurance companies offering a variety of health plans, choosing the right option can seem to be a daunting task.
To combat this issue, individuals like Mr Jaiswal can consider the following list of best mediclaim policies for families.
Table of contents
- 10 Best Cashless Health Insurance Policies in India
- Benefits of the Best Cashless Mediclaim Policy
- Things to Consider before Buying Cashless Health Insurance Plans
- Exclusions under Cashless Health Insurance
- Eligibility Criteria for Best Cashless Health Insurance Application
- Steps to File A Claim for Cashless Insurance Plans
- Reasons to Buy Cashless Health Insurance Plans from Navi
- Final Word
- Frequently Asked Questions
10 Best Cashless Health Insurance Policies in India
| Cashless health insurance plans | Features |
| Niva Bupa Health Insurance | Network hospitals: 7600+Processing time: 30 minutesClaim settlement ratio: 89.46% |
| Apollo Munich Optima Restore Health Insurance | Network hospitals: 10,000+Processing time: NAClaim settlement ratio: 91% |
| Care Health Plan | Network hospitals: 16,500+Processing time: 2 hoursClaim settlement ratio: 95.2% |
| Navi Health Insurance | Network hospitals: 10,000+Processing time: 20 minutesClaim settlement ratio: 97% |
| ICICI Lombard Health Care Plus | Network hospitals: 5,000+Processing time: NAClaim settlement ratio: 78.67% |
| Bajaj Allianz Health Insurance Family Floater | Network hospitals: 6,500+Processing time: NAClaim settlement ratio: 93.68% |
| Reliance Cashless Health Insurance Policies | Network hospitals: 8000+Processing time: NAClaim settlement ratio: 94% |
| New India Assurance Cashless Health Insurance Policies | Network hospitals: 1500+Processing time: NAClaim settlement ratio: 92.68% |
| HDFC Cashless Health Insurance Policies | Network hospitals: 10,000+Processing time: 20 minutesClaim settlement ratio: 86.52% |
| Aditya Birla Cashless Health Insurance Policies | Network hospitals: 8,000+Processing time: NAClaim settlement ratio: 70.81% |
Benefits of the Best Cashless Mediclaim Policy
Protects savings in times of medical emergencies
Medical emergencies can drain your savings in case you don’t have a proper financial plan. However, if you opt for a cashless insurance policy, you need not pay anything out of your pocket for the treatment costs. Note that a cashless facility is available only when you get treatments from network hospitals.
No urgency for the arrangement of cash
In case of medical emergencies and hospitalisation, arranging funds can become difficult for some. To avoid such a situation, one can opt for a cashless health insurance policy.
Range of coverage
These insurance policies provide coverage for pre and post hospitalisation charges, ambulance costs, expenses incurred for in-patient care, health check-ups, diagnostic tests and more.
Covers medical emergencies during travel
There might be medical emergencies when you are travelling. In such cases, you might need to part with a significant portion of your savings. However, if you obtain the best cashless health insurance plans, you can get trusted services in case of medical emergencies from any network hospital and need not pay anything for the treatment costs.
Tax benefits
The premium you pay for cashless health insurance plans is eligible for tax benefits as per Section 80D, Income Tax Act. One can obtain benefits up to Rs. 25,000 if they are below 60 years, and for senior citizens, the amount is Rs. 50,000
Also Read – https://navi.com/blog/medical-insurance-for-family/
Things to Consider before Buying Cashless Health Insurance Plans
Sum insured
The sum insured on your cashless health insurance plans varies across several insurance companies based on your location. For instance, the sum insured for small cities is less compared to that of metro cities.
Claim settlement ratio
You might expect a hassle-free and seamless claim process when it comes to health insurance policies. In this regard, you might want to check the insurance company’s claim settlement ratio before choosing a plan.
Network hospitals
You can raise a claim against your cashless health insurance policy from network hospitals. Hence, you might want to consider an insurer with a wide range of network hospitals.
Lifetime renewability
Generally, you need to renew your health insurance policies to continue being a beneficiary, and the renewability is subject to certain restrictions. However, some of the best cashless health insurance schemes come with lifetime renewability.
Coverage scope
You might want to ensure that your cashless health insurance policy includes essential coverage such as pre and post hospitalisation charges, maternity benefits, daycare costs, etc.
Exclusions under Cashless Health Insurance
- Registration or admission fees
- Toiletries
- Attendant’s charges
- Service fees
- Costs of diapers, oxygen masks, syringes etc.
Eligibility Criteria for Best Cashless Health Insurance Application
Entry age
18 to 65 years (for adults), 90 days to 25 years (for dependent children)
Pre-medical screening
Required for individuals above the age of 45 or 55 or 65 years
Pre-existing disease waiting period
2 years to 4 years
Steps to File A Claim for Cashless Insurance Plans
If you opt for the best cashless mediclaim policy for families in India, you usually have to follow these steps for a successful claim process:
In case of planned hospitalisation,
- Fill up the claim form by providing necessary details about your or your family member’s hospitalisation.
- Submit the form to the insurance company or the Third Party Administration (TPA).
- After approval, the insurer or TPA will notify the hospital regarding the claim amount.
- Finally, the insurance company settles the payment with the hospital post-treatment.
In case of emergency hospitalisation,
- You need to intimate your insurer within 24 hours of hospitalisation.
- Send the claim form to the respective TPA or insurer for approval.
- After approval, they will inform the hospital regarding the claim and settle the payment on your behalf.
In this regard, you might want to consider the Navi Health insurance policy from the insurance company Navi as they approve claims within 20 minutes. Moreover, owing to their app-based processes, you can raise claims in a hassle-free manner. To avail of such benefits, you just have to download the Navi App and enjoy a seamless cashless facility with regard to health insurance plans.
Reasons to Buy Cashless Health Insurance Plans from Navi
- 10,000+ network hospitals across 400+ locations in India
- Paperless application procedure
- Cashless claims in under 20 minutes
- Subscription-based model
- Comprehensive health coverage
- Low EMI starting from Rs. 240
- 97% claim settlement ratio
Also Read – https://navi.com/blog/waiting-period-for-health-insurance/
Final Word
Cashless health insurance policies allow you to avail of medical services from network hospitals without paying for the treatment costs upfront. This facility enables you to safeguard your savings and avoid financial instability. While you are in your quest for the best cashless health insurance plans in India, you might want to consider the plans in the aforementioned list.
Frequently Asked Questions
Ans: You can choose from a number of health insurance plans in India, such as:
Cashless health insurance for a family: You can get your family members insured under a single policy.
Individual cashless health insurance: Only a single individual can benefit from this insurance plan.
Cashless health insurance for senior citizens: Under this insurance plan, senior citizens can raise a cashless claim to cover hospitalisation expenses, ambulance charges and more.
Ans: Yes, if you manage to maintain a claim-free year within your policy term, your insurer might offer you a No Claim Bonus. Under this bonus, you can get discounts on policy premiums. Alternatively, insurers might decide to increase your sum insured for a claim-free year.
Ans: Some insurers can offer insurance policies with a co-payment option. Here, the individuals might need to pay a certain percentage of the claim amount, and the insurance company will pay the rest. While choosing the best cashless health insurance policies, you might want to consider this factor.
Ans: Individuals can benefit from traditional health insurance policies only after 24 hours of hospitalisation. However, with the advancement in technology, some treatments might require less than a day of hospitalisation. Such treatments fall under daycare procedures. A cashless health insurance policy covers the costs associated with this kind of procedure.
Ans: A typical cashless insurance policy includes the following in-patient hospitalisation expenses:
Room rent
Nursing
Pre and post hospitalisation expenses
Costs of daycare procedures
Ambulance charges
Expenses related to domiciliary hospitalisation
Organ donation costs
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