5 HEALTH INSURANCE MYTHS THAT YOU SHOULD BE AWARE OF
5 HEALTH INSURANCE MYTHS THAT YOU SHOULD BE AWARE OF
Myth 3: Mediclaim is always cashless.
Reality: Many people believe Mediclaim is always cashless. Cashless is
undoubtedly a great value added feature, since it saves the insured from
financial distress in the event of a sudden hospitalization. However, many
health insurance customers would have found out, much to their great dismay,
that emergency hospitalization under Mediclaim is not always cashless. Health
insurance buyers need to understand that, the cashless arrangement is only for
authorized claims, and not for all claims. Third Party Administrators and
Health Insurance companies need to assess every claim received, against the
policy terms and conditions, to authorize payment. Such an authorization could
require additional information as well as documents and hence can take anywhere
for 4 hours to 2 days of time, no matter how urgent hospitalization or medical
treatment is. Moreover, cashless admission in many hospitals only works during
fixed hours, when the insurance desk is open. If you or your family members
need to get hospitalized on an emergency basis, it may not always be cashless,
even though your Mediclaim policy may have a cashless arrangement with your
hospital.
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