In today's life a medical policy is must for everybody. But one must be aware of the kind of policy one is buying. It is always advised to go for cashless mediclaim policy . In the cashless mediclaim policy , the the premium could be slightly higher than the one in which you will have to spend the amount for the treatment from your own pocket but later you can claim that on furnishing the bills.
Most of the cashless mediclaim policies by health and general insurance companies are general insurance companies are being implemented by third party administrator ( TPA ). For this , the insurance company issue identity card to its customers . In case of a medical emergency , you can go to a hospital , included in the list of TPA of your insurance company , with the identity card . The hospital is supposed to attend you immediately without asking you to deposit any cash amount .
According to the arrangement approved by IRDA , TPA is suppose to help you in the processing of claim and to ensure that hospital charge you a fair amount for the treatment . For this , TPA signs with a number of hospitals , where you can avail treatment up to the amount for which you have been insured . The hospital is supposed to take the authorisation from the TPA within 48 hours of hospitalization through online network . However sometimes it takes time to connect , That's why it is advisable to keep some cash always ready to avail the medical treatment immediately . The hospital may return you the amount when its get the authorisation from the TPA . But , in the cashless treatment also , there are some expenditures against consumable like hand gloves , which are not included in the insurance .
Many insurance companies are also selling participative mediclaim policy . In this , you will have to pay around 10 % of the total medical bill . The premium for this kind of policy is less than the complete cashless policies . But , if you have bought participative policy then you must keep 10% to 15% of the sum assured amount of the mediclaim policy ready with yourself.
According to the arrangement approved by IRDA , TPA is suppose to help you in the processing of claim and to ensure that hospital charge you a fair amount for the treatment . For this , TPA signs with a number of hospitals , where you can avail treatment up to the amount for which you have been insured . The hospital is supposed to take the authorisation from the TPA within 48 hours of hospitalization through online network . However sometimes it takes time to connect , That's why it is advisable to keep some cash always ready to avail the medical treatment immediately . The hospital may return you the amount when its get the authorisation from the TPA . But , in the cashless treatment also , there are some expenditures against consumable like hand gloves , which are not included in the insurance .
Many insurance companies are also selling participative mediclaim policy . In this , you will have to pay around 10 % of the total medical bill . The premium for this kind of policy is less than the complete cashless policies . But , if you have bought participative policy then you must keep 10% to 15% of the sum assured amount of the mediclaim policy ready with yourself.
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