When it comes to purchasing mediclaim for a family, many people are torn between two options. They have trouble deciding between cashless mediclaim coverage and mediclaim policies that allow for later reimbursement. The truth is that for people wanting to protect themselves and their loved ones, making a final decision between the two should be straightforward. Cashless mediclaim policy plans from top companies such as Care Insurance can help you secure much-needed financial assistance as well as peace of mind in the event of a medical emergency.
While a mediclaim policy will undoubtedly offer you full coverage against hospitalization costs, keep in mind that you may still need to pay for these exorbitant costs out of your own savings. This can be very inconvenient especially if it’s the end of the month and you are waiting for your salary to be credited. This is why cashless mediclaim plans appear to be lifesavers.
People with minimal or no funds can benefit greatly from cashless hospitalization through a cashless mediclaim policy. When you notify your insurance firm of your hospitalization, the latter will directly settle the medical bills with the hospital, rather than forcing you to pay the hospital bills first and then wait for reimbursement. About 43% of health insurance providers offered between 51% and 75% cashless claim transactions as of November 2019.
Cashless mediclaim policies vary in their features depending on the insurer. They are specifically designed to provide absolute financial support to policyholders during medical emergencies. Inpatient care, pre- and post-hospitalization charges, daily cash reward, no-claim bonus, cover for ambulance fees and domiciliary treatment are just a few of the frequent features of cashless mediclaim policies. Further, income tax benefits are an important component of the benefits of a cashless mediclaim coverage.
When you purchase a cashless mediclaim policy, you can be secure in the fact that a medical emergency will not require you to dip into your savings, borrow money, or liquidate your valuables. Here are some advantages.
Higher Coverage
One the of key reasons that people opt for a cashless mediclaim policy is because it offers extensive coverage. From in-patient treatment and domiciliary hospitalization to health check-ups, ambulance charges, day-care operations and other services; almost everything is covered under family floater insurance. The cashless facility covers not just treatment expenditure but also pre- and post-hospitalization expenses. The various coverages included in your cashless family health insurance will take care of any financial concerns that a hospitalization may generate.
Better Convenience
Through family health insurance, you can enjoy the ease of immediate treatment at a network hospital. In most cases, you will find network hospitals throughout the country as they are not restricted to a certain geographic area. Thus, if you require medical assistance while on holiday or on work, you can receive it at a network hospital without having to plan for finances. However, prior to buying a cashless mediclaim policy coverage, take a look at the list of network hospitals covered by the policy.
Easy Access to Funds
A family floater policy covers all the beneficiaries at the same time. As a result, several hospitalizations within the same policy term need not result in financial hardship when it comes to treatment costs. Your family will be able to receive care without having to worry about money if you have a cashless mediclaim policy at this time. Normally, in such a scenario, with regard to a medical emergency situation, you may need to dilute your investments. However, with a cashless family health insurance you can get adequate coverage for the entire family.
Secure your family’s healthcare needs by taking the right policy decision at the right time. Cashless mediclaim policy plans not only provide peace of mind through a health emergency, but also necessary cash assistance. Evaluate the features and benefits of different policies prior to choosing one that is perfect for your family requirements.