Healing Illnesses With Ease

Availing mediclaim policies can help one save money substantially.

- Himali Patel

Life is so unpredictable at times.

One minute everything is going exactly as planned and then out of the blue, your whole world crashes down. All it takes is a flick of a button and your world turns upside down. All of us have been through such times, especially when a medical emergency strikes out of nowhere.

And arranging funds on an immediate basis during medical emergencies can be a difficult task. Whether it is rushing to the ATMs or calling up friends and family in such a dire situation for financial help, can be immensely stressful. However, cashless mediclaim can come to the rescue. A mediclaim insurance policy can help you get treated at any hospital without breaking your head over it.

The expenses raised during the hospitalisation are directly paid by the insurance company to the hospital. Commenting on the benefit of cashless mediclaim, Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance said, “Cashless mediclaim is designed to help reduce the financial burden on policyholder in case of a health emergency. Expenses incurred in the policyholder’s treatment is paid by the insurer directly to the hospital if the patient is admitted to a network hospital.”

Currently, two types of claim processes are available in the market – cashless and reimbursement. While under a cashless mediclaim bills are directly settled by the insurance company at a network hospital, in case of reimbursement policy, one needs to pay all the expenses oneself first and then the insurance company reimburses the same. In case of a reimbursement policy, “the insured has to pay all her medical bills and other costs involved in hospitalisation and treatment and then claim reimbursement. In order to avail reimbursement claim one has to provide necessary documents including original bills to the insurance provider,” said Prasun Sikdar, MD and CEO, Cigna TTK Health Insurance.