Cashless Health Insurance

Health Insurance
  • Claim up to Rs. 55,000 deduction under section 80D*
  • 10,000+ hospitals for cashless treatment
  • Insurers offer plans with no limit on room rent

Overview of Cashless Health Insurance:

To understand cashless health insurance an understanding of health insurance in general is necessary. Health insurance is an instrument that can be used to ensure that, in case of a medical emergency, policyholders are able to provide their families with the best medical help possible. There are times when this medical help might be too expensive for some people and that is where a health insurance policy steps in to help pay the bills. The cashless mediclaim policy is a type of insurance where policyholders can be hospitalised, get the relevant treatment and be discharged without having to pay anything from their pockets.

Key Features:

The features of any cashless policy will depend on the insurer who provides the insurance but some of the most common features are:

  • Pre & Post Hospitalization Medical Expenses
  • In-patient Care
  • No-claim bonus
  • Complementary health check up
  • Daily cash benefits
  • Cover for ambulance charges
  • Cover for domiciliary treatment
  • Cover for critical illnesses like cancer, heart attack, stroke, etc.
  • Tax benefits
  • Free-look periods

Understanding Cashless Hospitalization:

  1. What is cashless hospitalisation?

  2. What is meant by cashless hospitalisation is that when you get admitted in the hospital for treatment, for an illness covered by your health insurance policy, you don’t have to pay for the treatment from your own pocket.

  3. How does cashless hospitalisation work?

  4. Health insurance providers enter into agreements with various hospitals which state that patients holding cashless mediclaim policies won’t have to pay the hospital for treatment. The charges will be paid directly to the hospital by the insurer.

    Cashless Health Insurance
  5. Is there anything that the policy will not pay for?

  6. These policies generally cover only the expense of the treatment. This could include cost of medicines, medical procedures, fee for anaesthesiologist and surgeons, ambulances, rooms, etc. They will not cover expenses that are non-medical in nature. Most insurers provide lists of items that the policy won’t pay for and should be consulted by policyholder. The list could include items like tissue paper, air conditioning, television, etc.

  7. Why is it important to take cashless health insurance?

  8. If you were to need hospitalisation for something and did not have enough money to pay for the treatment, or even a part of the treatment, your options for proper medical care would be severely limited. With cashless health insurance you can be assured of the best possible treatment even if you don’t have the money to pay for it.

  9. Is it different from other policies like family floater, individual, etc.?

  10. No, a cashless policy is essentially the same as an individual policy or a family floater policy. It will even provide the same benefits as them and have the same exclusions. The best way to describe it would be to say that the cashless part of a health insurance policy is actually a benefit or a feature rather than a type of policy.

  11. How is it different from co-pay?

  12. In co-pay policies, policyholders and insurance providers share the hospital expenses. A certain percentage of the medical bills are paid by the policyholder while the remainder, the lion’s share, is paid by the insurance company.

  13. How is it different from reimbursement?

  14. If you go for treatment to a hospital that is not a part of the network hospitals, you need to make the payments from your pocket and then submit the bills to get a reimbursement from the insurer. In a cashless policy, the payment is made directly by the insurance company if treatment is done in a network hospital.

  15. What is the tenure of the cashless health insurance policy?

  16. Cashless health insurance policies, like most health insurance products, come with a standard tenure of 1 year. They need to be renewed every year. Some insurers, however, do offer tenures of 2 years at a time.

  17. How long can I renew the policy for?

  18. Most cashless mediclaim policies can be renewed throughout the lifetime of the policyholders.

  19. What if I fail to renew the policy in time?

  20. In case you fail to make the payment for the policy by the due date, you will be given a grace period of 15 days. However, it must be noted that in most cases, insurance policies are not active during the grace period.

  21. Is this type of a policy transferable?

  22. Yes, these health insurance policies can be transferred from one insurer to another.More on health insurance portability

  23. Do these policies cover pre-existing illnesses?

  24. Yes some insurers may offer cashless policies for pre-existing conditions however, this facility may be subject to conditions set forth by the insurer.

Advantages of Cashless Health Insurance:

Cashless health insurance policies offer policyholders a wealth of benefits like:

  • With this policy in effect, policyholders don’t have to have ready cash to cover medical expenses.
  • Some cashless health insurance policies will be valid outside India as well. This is more of a feature and will depend on the insurer.
  • It will provide for tax benefits under section 80D of the Income Tax Act 1961. The limits defined are Rs. 20,000 per year for senior citizens and Rs. 15,000 for all others.
  • Some of the insurers will also provide policyholders free medical check-ups at regular intervals.

Who should buy Cashless Medical Insurance?

Just the convenience of cashless insurance is enough to convince anyone of buying this policy but those that could benefit the most from these policies are self-employed individuals where there is no regular income coming in. For such people a cashless policy could make a lot of difference in case of an emergency. The same can be said for individuals who cannot afford the cost of expensive medical treatments. A cashless policy could also be of great help if the person plans on traveling abroad as some companies offer health insurance cover outside India too.

Exclusions:

While health insurance plans do offer to cover most of the medical emergencies and conditions, the cover is subject to exclusions. These exclusion are of two types, temporary and permanent. Temporary exclusions are expenses that the policy won’t cover for a period defined by the insurers while permanent exclusions are expenses that the policy will never cover. These things could be:

  • Pre-existing illnesses
  • Congenital disease
  • HIV/AIDS
  • Non-medical expenses
  • Injuries or ailments acquired in the course of conducting illegal activities
  • Routine medical exams
  • Dental procedures
  • Joint replacements unless it is necessitated by an accident
  • Experimental treatments
  • Injuries or medical conditions caused by terrorist acts or wars

An Example:

Consider 2 people, Divya and Parul. Each of them is married and covered by a substantial health insurance plan. The cover provided by their health insurance plans too is the same, and covers the same medical treatments. The only difference is that Divya has a co-pay family floater plan and Parul has a cashless family floater plan. It so happens that they need to be hospitalised for the same illness. Each one of them gets admitted and receives the same medical treatment, which costs the same at both hospitals, but when the time comes to be discharged Divya’s bill is considerably higher than Parul’s. How could this be?

The difference in the bills cropped up because Divya’s co-pay policy only paid part of the medical expenses. The remainder was to be paid by her along with the bill for the sundry expenses which means that Divya now has to dip into her savings to pay the bills. On the other hand Parul’s cashless policy paid for the entire treatment and all she had to pay for was sundries that were not covered by the policy.

This is but one example where a cashless policy makes the most sense.

Top Health Insurance Policies with Cashless Hospitalization:

  1. Max Bupa Health Insurance:

    Max Bupa Health Companion Health Companion:

    • It is a comprehensive family floater health insurance plan
    • Offers cover for hospitalisation, hospital accommodation, pre and post hospitalisation medical expenses and day care treatments
    • Offers cashless facility at your nearest network hospital
    • Direct claim settlement
    • Offers tax benefits

    Max Bupa Heartbeat Heartbeat:

    • Designed especially for the Indian joint family
    • Offers cover for up to 14 relationships with individual and floater sum assured
    • Cashless approval within 4 hours
    • Assured policy renewal for life
    • Offers a wide range of hospital cover including maternity facility, newborn care, vaccination cover and much more
  2. Apollo Munich Health Insurance:

    Apollo Munich Optima Restore Optima Restore:

    • Offers a wide range of cover
    • Offers restore benefit
    • Offers everyday cash for shared accommodation
    • Comes with tax benefits under section 80C of the Income Tax Act
    • Multiplier benefit

    Apollo Munich Easy Health Easy Health:

    • Offers a comprehensive cover
    • Offers cover on individual sum basis with an add on optional cover for critical illness
    • Offers daily cash for shared accommodation
    • Provides recovery benefit
    • Offers cashless service for planned admission

    Apollo Munich Optima Cash Optima Cash:

    • Optima Cash by Apollo Munich is a top up health insurance plan
    • Offers a vast cover including day care, convalescence benefit and parent’s hospitalisation and much more
    • Sum insured enhancement
    • Offers cashless service facility to ensure the policyholder doesn’t have to worry for cash at the time of a medical emergency

    Apollo Munich Optima Vital Optima Vital:

    • It is a unique critical illness health insurance policy
    • Offers cover for critical illnesses and other conditions
    • Offers sum insured enhancement
    • Offers portability
    • Provides cashless service

    Apollo Munich Optima Super Optima Super:

    • It is a top up health insurance plan
    • Offers waiver of deductible benefit on the plan
    • Cashless service with pre authorization
    • Offers portability
    • Offers tax benefits
    • Offers value added service like health risk assessment
  3. Reliance Health Insurance:

    Reliance Health Gain Plan:

    • It is a general health insurance policy offered by Reliance
    • Provides different plans including family floater plan and individual plan
    • Cashless hospitalisation in over 4000 plus network hospitals
    • Lifelong renewal of the health insurance policy
    • Quick and hassle free claim settlements

    Reliance Health Wise Policy Health Wise:

    • Health insurance policy with a comprehensive cover
    • Provides cashless hospitalisation
    • Reinstatement of base sum insured
    • Offers a variety of options to choose from
    • Easy medical claim settlements
  4. ICICI Lombard Health Insurance:

    ICICI Lombard Health Care Plus Health Care Plus:

    • Individual health insurance cover for each member of the family
    • Flexible sum insured
    • Flexible deductibles
    • Offers cashless facility
    • Long term cover
  5. Religare Health Insurance:

    Religare Health Care:

    • Health insurance policy with comprehensive coverage
    • Speedy claim settlement
    • Cashless treatment at 4600+ hospitals & Daily allowance
    • Auto recharge of policy sum insured if it has exhausted
    • Lifetime renewability

    Religare Health Joy:

    • Offers a wide cover including new born cover
    • A combination of hospitalization and maternity insurance
    • 100% increase of sum insured with no claim bonanza
    • Cashless treatment at 4600+ hospitals
    • Waiting period of 24 hours for maternity claims

    Religare Health Enhance Enhance:

    • It is a top up health insurance policy
    • Cashless treatment available
    • No paperwork required
    • Lifetime renewability
    • Health check-ups for insured members every year
  6. New India Assurance Health Insurance:

    New India Floater Mediclaim Policy

    • It is a health insurance policy offering a wide cover
    • Offers cashless benefit
    • Offers critical care benefit
    • Hassle free claim process

    New India Asha Kiran Policy

    • Offers health insurance cover for the family
    • Offers cashless benefit
    • Critical illness benefit
    • Hospitalisation necessary to get a claim

    New India Senior Citizen Mediclaim Policy

    • Health Insurance policy designed especially for senior citizens
    • Pre acceptance health check up
    • Offers a wide health insurance cover
    • Provides cashless hospitalisation
    • Hassle free claim process
  7. Future Generali Health Insurance:

    Future Generali Health Suraksha- Individual Plan

    • It is an individual health insurance policy
    • Pre acceptance medical tests up to 40 years
    • Offers additional accidental hospitalisation
    • Provides cashless hospitalisation
    • 30 days renewal policy

    Future Generali Health Suraksha- Family Floater

    • It is a family floater health insurance policy
    • Offers portability
    • Free health check up
    • Offers cover for a wide range of medical conditions
    • Quality health insurance at a low premium

    Future Criticare Policy

    • It is a critical illness health insurance cover
    • The policy will pay a lump sum benefit on the diagnosis of specified critical illness
    • Offers cashless service at network hospitals
    • Offers tax benefits under section 80C of Income Tax Act
    • Hassle free and easy claim process

Why Buy Online:

With the busy schedule that most people maintain, these days, it is very difficult to sit and talk to an insurance agent, just to understand which health insurance policy is the best. With BankBazaar.com not only is this process simplified but it also offers much more flexibility. Instead of sitting with someone and talking about various plans, all you have to do is enter your basic information and we will provide you with a choice of plans, from different insurers, which suit you the most. You can even apply for these plans using the BankBazaar website.

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Cashless Treatment

Policy Coverage

Customer Service

Medical Coverage

Claim Experience

News About Cashless Health Insurance

  • Rajasthan Government to launch a new Cashless Health Insurance scheme

    The Government of Rajasthan today declared its plan to launch a cashless health insurance plan. The plan is designed to include more than 1 crore people starting from 13th December. To execute this plan of launching a new cashless health insurance scheme, the Rajasthan Government has signed a Memorandum of Understanding with the New India Insurance Company.

    The government has so far covered 67% of its people by creating health cards. Consumers having Bhamashah Yojna Card will also be able to enjoy the benefits of this new health insurance scheme. The e-health cards would be made ready by December 13th, 2015. As per this new scheme, a person would be able to enjoy the benefits provided under this scheme in 1700 select hospitals. The scheme would provide coverage up to Rs. 3 lakhs which is subject to pre and post hospitalization.

    25 November 2015

  • App from Remedinet Technologies for Cashless Settlement of Health Insurance Claims

    Remedinet Technologies launched two mobile apps that provide the status of cashless health insurance claims to patients and hospitals. The apps were launched on Windows 8.1, Android platforms and Microsoft Visual studio. Hospitals can download the Remedinet Hospital mobile app to access information regarding claims while the customers can download the Remedinet Consumer app to check the status of their claims. For the consumers, the application will act as a boon since it is easy to navigate and information can be accessed just by entering details such as name of the patient or reference number of the claim.

    13 May 2015

GST rate of 18% applicable for all financial services effective July 1, 2017.

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Cashless Health Insurance Reviews

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  • New India Health Insurance
    "Need to receive claim amount on time "
    0.5 3.0/5 "Satisfactory"
    I have taken a health insurance from NEW INDIA ASSURANCE on few years before. One time I had done a claim experience due to health issue of my mother but their service was unhappy. It took 2-3 times to contact them but the process was delay to claim. I am unable to check how much amount they have debited for a insurance. They have tied up with multiple hospitals. It covers up to myself, mother and father.
    Was this review helpful? 0
    , chennai
    Reviewed on Nov 11, 2019
  • Bajaj Allianz
    Bajaj Allianz Health Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    My health insurance was taken from Bajaj Allianz because they have a tie up with my company. I have paid the premium amount of Rs. 10000 for the coverage of myself and my wife. They gave me a coverage amount of Rs. 5 lakhs and they have included the pre-existing disease as well. I do not have any claim experience till now.
    Was this review helpful? 0
    , thane
    Reviewed on Nov 10, 2019
  • HDFC Ergo Health Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    Chosen my health insurance from HDFC Ergo its because of the good response to the customer. I got the policy for my parents. I have paid the premium amount of Rs. 21000 on a yearly basis. They gave me a coverage amount of Rs. 3.5 lakhs. I have not applied for any claim till now.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 09, 2019
  • Star Health Health Insurance
    "No interaction with the customer"
    0.5 3.0/5 "Satisfactory"
    There is no interaction from Star health insurance and there was no welcome call made. I have bought a card and I'm clueless about the benefits provided by the insurance. Fortunately, i am not required to use it. This is the first time, i have purchased the health insurance for me and my family. Coverage amount of Rs. 3 lakhs. I have made a online payment.
    Was this review helpful? 0
    , jaipur
    Reviewed on Nov 08, 2019
  • Bajaj Allianz Health Insurance
    "Need to improve customer service"
    0.5 2.0/5 "Expected more"
    I have taken a health insurance policy from BAJAJ ALLIANZ GENERAL INSURANCE and they have provided me a coverage amount of Rs. 10L. Myself, wife and my children are covered in this policy. Last year my child was faced some health issue and admitted in hospital, so I was trying to do claim but unable to do it. The customer service is no proper response and neglecting my query request.
    Was this review helpful? 0
    , aurangabad
    Reviewed on Nov 08, 2019
  • Royal Sundaram Health Insurance
    "Cheap and best"
    0.5 4.0/5 "Great!"
    I haven't used my royal sundaram policy even though i have bought the policy. Actually i had a discount offer from Royal Sundaram so i just went through it. I have paid the premium amount of Rs. 5500 for the coverage of myself and my wife. They are giving a coverage of Rs. 3 lakhs for each person.
    Was this review helpful? 0
    , nellore
    Reviewed on Nov 07, 2019
  • ICICI Lombard Health Insurance
    "Good Health Insurance"
    0.5 5.0/5 "Blown Away!"
    From my organization, they have provided me a health insurance from ICICI Lombard. I have not checked about the tie up hospital and they have provided me a coverage amount of Rs. 2.5 lakhs and i have not approached any health insurance till now.
    Was this review helpful? 0
    , palakkad
    Reviewed on Nov 07, 2019
  • HDFC Ergo Health Insurance
    "Better claim service"
    0.5 5.0/5 "Blown Away!"
    I have purchased the health insurance policy from HDFC Ergo. From 2017, i have been renewing the policy with the same company. My claim experience is better. They have given me a coverage amount of Rs. 3 lakhs and they have processed the claim in 15 days.
    Was this review helpful? 0
    , manjeri
    Reviewed on Nov 05, 2019
  • HDFC Ergo Health Insurance
    "Good service"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance for my family Rs.5,00,000 for each. Myself, spouse and my two kids ,I am paying on the yearly premium of Rs. 16,000. I have taken it before 2 years through agent and received the clear information regarding the insurance. Last year i under went hernia surgery, claim declined.
    Was this review helpful? 0
    , bangalore
    Reviewed on Nov 03, 2019
  • Apollo Munich Health Insurance
    "Superb & Excellent"
    0.5 5.0/5 "Blown Away!"
    My health insurance is with Apollo Munich, its very good company and the benefits are satisfactory. I am saving the money from my pocket and have utilized the policy for my wife treatment. They are having more number of hospitals for the cashless but again its depending upon the cities. The policy coverage is 3L.
    Was this review helpful? 1
    , visakhapatnam
    Reviewed on Nov 03, 2019
  • Religare Health Insurance
    "Need to improve customer service"
    0.5 4.0/5 "Great!"
    Due to my personal need, I had taken a health insurance with RELIGARE on 3 months before. On yearly basis need to pay a premium amount of 12k, the sum assured amount of 5L. Additional of card protection coverage applicable of 1L in case if I missed credit card, debit card, PAN card or adhaar I am able to claim with this coverage amount. It covers myself and my family members as well. Due to language barrier I am unable to get a support from customer service.
    Was this review helpful? 0
    , tirupur
    Reviewed on Nov 01, 2019
  • New India Health Insurance
    "Excellent Service"
    0.5 4.0/5 "Great!"
    My employer has given me a health insurance policy from NEW INDIA ASSURANCE and they have provided me a coverage amount of Rs. 3 lakhs. It is on yearly basis renewable.I had done claim for once which I got sufficient amount and as well on time. It covers my whole family members.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Nov 01, 2019
  • United India Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    My employer has given me a health insurance policy from UNITED INDIA INSURANCE on 3 months before only. I am paying premium on yearly basis for the sum assured amount of 3 lakhs. It covers myself and family as well. I received all the detail of an insurance.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 31, 2019
  • Star Health Health Insurance
    "No claim"
    0.5 5.0/5 "Blown Away!"
    My friend suggested me a health insurance from Star Company. I have paid the premium amount of Rs. 13000 per year and it covers for my entire family. They are giving coverage value of Rs. 3 lakhs. I have not applied for any kind of claim as of now.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Oct 30, 2019
  • Apollo Munich Health Insurance
    "Good policy with high premium"
    0.5 3.0/5 "Satisfactory"
    My health insurance policy was taken from Apollo Munich because it covers most of the hospitals in India and the premium amount is so high and gives a good plan benefits. I have paid the premium amount of Rs. 6282 for the coverage amount of Rs. 3 lakhs. I bought the policy only for myself. I do not have any claim experience till now.
    Was this review helpful? 0
    , new delhi
    Reviewed on Oct 29, 2019
  • Max Bupa Health Insurance
    "Better"
    0.5 3.5/5 "Pretty good"
    I am having a corporate health insurance with Max Bupa. The medical coverage is 6L annually including family members( 4Adults). They are having many cashless hospitals for the treatment. I did not claimed so far but am having my E-cards on online.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Oct 26, 2019
  • Religare Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a health insurance in Religare on 4 years before. The policy is for yearly basis renewable. I am paying premium in the yearly package the amount of 6 thousands which is nominal. They have tied with many hospitals. Use to auto debit from my account for the amount to pay. The sum assured for 15 lakhs.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Oct 25, 2019
  • United India Health Insurance
    "Medium"
    0.5 3.5/5 "Pretty good"
    My employer has given me a health insurance policy from UNITED INDIA INSURANCE on 2 years before.I am paying premium in the yearly package the amount which is nominal. While getting a policy an agent has given an information about all the details for insurance. It covers my whole family. They have tied up with many hospitals.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 24, 2019
  • Bajaj Allianz Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    There is no claims with Bajaj Allianz so far but heard they were providing a good support. The reimbursement process was little bit longer which it should be simpler. I never contacted the customer service. The policy covers 5L per head and totally its 5members.
    Was this review helpful? 0
    , aurangabad
    Reviewed on Oct 24, 2019
  • Star Health Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    From STAR HEALTH is best for premium amount and as well their service. They will be prompt to customer. Short period of 5 years taken this insurance. Since I changed to an other company again now it is an active. On yearly basis pay the premium amount of 16,500 rupees. It covers my whole family except my mother.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Oct 23, 2019
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