Top Tips to Get Affordable Cashless Mediclaim Policy in 2024

Most individuals get confused about the distinction between health insurance and mediclaim, sometimes confusing one for the other. Despite the fact that both provide financial protection in the event of an emergency, mediclaim is not just another term for health insurance.

A mediclaim policy is a type of health insurance policy where the policyholder's medical expenditures incurred in treating their medical conditions are reimbursed by the insurer. You can send your bills to the insurance company for payment if you have a medical insurance policy. As an alternative, you can choose cashless treatment, in which the hospital administration and insurance provider will handle paying the medical expenditures.

A mediclaim policy has multiple benefits as it offers financial security, affordable access to quality healthcare, tax benefits, the incentive of a cumulative bonus, a range of add-ons and customisation features, cashless claim settlement as well as family floater plans.

Now, here we will focus on the cashless health insurance plan or cashless mediclaim policy that allows instant treatment without the financial hassle and offers direct bill payments and instant claims.

With ACKO Platinum Health Plans, you get a zero waiting period, a network of 14300+ cashless hospitals and 100% of your bill also gets covered.

What is a Cashless Health Insurance or Cashless Mediclaim Policy?

With cashless health insurance, you may receive medical care at network hospitals without having to pay cash upfront. Policyholders encounter no hassles because the insurance company pays the hospital directly for the medical expenditures.

A significant number of popular health insurance policies in India provide cashless hospitalisation. As a result, when you obtain treatment through this network, you do not have to pay any money in advance. The insurance company will cover the hospital expenses. This is really useful, especially during a crisis.

Tips for Getting an Affordable Cashless Mediclaim Policy in 2024

Here is the curated list of tips which will help you to choose from among the best cashless Mediclaim policies in India for yourself and your loved ones:

• Opt for the best insurer for yourself: First, you pick a health insurance company that suits your needs. They become your health partner, promising to help you out when you are not well. Also, the approval process and final settlement process should be kept in mind while choosing the best insurer.
• Select the plan that suits you the best: Depending on your needs and budget, you can select a health insurance plan. Plans can vary in coverage, from basic to comprehensive, so choose what fits you best. While selecting a plan, you need to look out for — the sum insured, waiting period, flexible plan, co-payments, high claim settlement ratio, lifetime renewability, room rent limit, networked hospitals, etc. Then, you can go for the plan that will cover hospitalisation, day-care procedures, doctor fees, surgery, medicine, diagnostics and ambulance costs, as well as pre- and post-hospitalisation expenses (in some cases).
• Search for a network hospital: When looking for an affordable cashless mediclaim policy, you must know that your insurer must be having a list of network hospitals. These are the medical centres or hospitals they have partnered with. You can visit any one of these when you need medical care.
• Select the option that lets you pay your premium timely: A premium is a small amount that you pay on a regular basis, usually monthly or annually. To keep your magic card active, this is similar to paying a membership fee.
• Keep your health insurance card ready: Your health insurance card acts like a magic card. When you go to a network hospital, show this card. This card holds all the information that your insurer needs. It eases the claim process. In such cases, you go to the hospital, show your card and you are done. The hospital talks to the insurance company and your bill is settled. There is no need to run around with documents or paperwork, as it is all taken care of in the background.
• Get in touch with your insurer in time of need: Your insurer talks to the hospital and settles the bills directly with them. You don't need to pay anything at the hospital (except for any non-covered expenses or co-payments, if applicable). In the case of co-payments, do check out the co-payment clause beforehand.
• Get the treatment done and focus on your healing: You should also see that the hospital you are opting for also entails pre-approved treatments, which will be taken care of by the insurance company and hospital. The hospital must directly communicate with your insurer about the medical costs and you do not have to worry about finances while healing yourself or any family member.

Final Words

Cashless health insurance can be quite beneficial in times of need. The advantage of cashless health insurance or mediclaim policy, particularly in India — you can go to the doctor or the hospital without having to carry large amounts of cash. So, first and foremost, we must value our health. Unexpected health difficulties can occasionally knock on our door. During these moments, cashless health insurance serves as a welcoming shield.

With ACKO, get the best guidance and best offers for yourself and your loved ones.

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