5 HEALTH INSURANCE MYTHS THAT YOU SHOULD BE AWARE OF

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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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