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Cashless Health Insurance

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Cashless Treatment

Customer Service

Medical Coverage

Claim Experience

Responsiveness

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.

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.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

Cashless Health Insurance Reviews

Page 1 of 50 1 2 3 4 5
  • United India Health Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy in the year of 2018 and the the premium has been deducting from my salary. The premium amount has not been too high and there has been many hospitals collaborated within my locality. There has also been some cashless treatment available with this policy as well.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • Star Health Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have my health insurance with Star health insurance, i had claim experience with it, my experience was good, they have good tie up with my hospital and they have mailed me about the location of it, and i am happy with there service, they have charged me premium amount on yearly basis, and the premium amount is nominal for me, and i use to pay through on line mode.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • Max Bupa Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken my health insurance with Max BUPA , i have not opt there policy yet and i use to pay premium on monthly bases , and it use to get auto debit from my account and while i applied for health insurance customer service had explained me about all procedure , so far the process went smoothly and it good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • Max Bupa Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the health insurance with Max bupa health insurance, there service is good, they have charged me premium nominal ,and the premium is on yearly basis, and they have tie up with many hospital , and had shared the details via mail, and i pay premium amount through on line mode.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • HDFC Ergo Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the health insurance with HDFC Ergo, they got tie up with many hospitals, and they have shared me location on those hospital in mail, and they have charged me nominal premium amount ,they have charged me up to 17000-18000 as premium, it is on yearly basis, and i use to pay the premium on an on line basis.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • SBI General Health Insurance
    "Bad experience"
    0.5 1.0/5 "Really Bad"
    I got the health insurance with SBI, they got tie up with many hospitals. I Felt the medical cover its less and i am not happy with there support team ,like if i want to call the customer care there number would not be reachable and they use to mail me PDF after paying premium amount,it would not get open, they have charged me premium amount on yearly basis,i have bad experience with this bank.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jan 16, 2019
  • HDFC Ergo Health Insurance
    "Very good benefits"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance from HDFC ERGO which was purchased by me in the year of 2018 because the benefits are very good. The claim process was simple and they have more number of hospitals for cashless. I have paid 18,800 for one year and took 3 years policy for myself and my wife. The medical coverage is 10L for myself and 5L for wife.
    Was this review helpful? 2
    , bangalore
    Reviewed on Jan 14, 2019
  • HDFC Ergo Health Insurance
    "Good"
    0.5 3.0/5 "Satisfactory"
    I have taken health insurance from HDFC Ergo which was offered along my personal loan. I have received the insurance paper and its been couple of months. It covers critical illness and need to go through the policy benefits. Always the customer is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • Tata AIG Health Insurance
    "Great company"
    0.5 5.0/5 "Blown Away!"
    I have taken health insurance from tata aig. I did take health insurance from tata aig for my parents and The Process was so simple. Customer representative is good. The customer service and response was on time, never had any issues. Now I feel safe for my family Thank you tata aig.
    Was this review helpful? 0
    , solapur
    Reviewed on Jan 12, 2019
  • ICICI Lombard Health Insurance
    "Good Health insurance provider"
    0.5 3.5/5 "Pretty good"
    This policy was part of my employment, I took the medical coverage of Rs. 5 lakhs for the tenure of one year, this medical benefits for my entire. They have good networks of hospital with major disease cover. But I think it doesn't have no claim bonus.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 11, 2019
  • Reliance General Health Insurance
    "On time approval with reliance"
    0.5 4.0/5 "Great!"
    For my spouse operation I used the health policy, I approached them for the claim through hospital. I submitted the form and they send the papers to the Reliance insurance company. I got the cash less treatment, but I paid some amount which was not covered. But they gave me the on time approval.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jan 11, 2019
  • Cigna TTK Health Insurance
    "On time service"
    0.5 5.0/5 "Blown Away!"
    On time Cigna TTK have activated the policy which provided by the company, the policy which I hold it has the coverage of Rs. 4 lakhs its covers for me. They are providing coverage for the pre existing with the tax benefits but there is no claim.
    Was this review helpful? 0
    , dandeli
    Reviewed on Jan 10, 2019
  • Cigna TTK Health Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    In Cigna TTK, they are providing pre existing disease cover, but they don't have no claim bonus features. The response is good they have good customer care working 24/7 , the medical coverage is good for me and entire family. They have many hospital which they got tie up in Mumbai.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 10, 2019
  • Apollo Munich Health Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a while back and i had been paying the premium amount on an annual basis. The premium method has been convenient and the premium amount has not been high. There has been many hospitals covered in my locality and their customer support has also been helpful.
    Was this review helpful? 2
    , pune
    Reviewed on Jan 09, 2019
  • ICICI Lombard Health Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    My organization has provided me a health insurance with ICICI Lombard. I have not claimed anything from this policy. My entire family has been covered in this policy. They have given me a coverage value of Rs. 3 lakhs. This is a cashless policy.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 09, 2019
  • Star Health Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    My company has offered a health insurance from Star Health with the coverage of 1L, its for the family, Still I have not used the policy and am gone utilize the policy within 15 days for my family.They covers a major disease. I have called the customer service and the response is good. I am planning to go for reimbursement, they do have minor network of hospitals for cashless. I can recommend after completing my claim.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 09, 2019
  • National Insurance Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a health policy from National insurance with the coverage of 2L. It is for the family members and no claim. I never contacted the customer service. Every year it was renewed by the company. They have limited networks of hospitals for cashless. It does not cover only eye problems, if we got admitted in hospital for 24hrs then applicable for claim.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Jan 09, 2019
  • ICICI Lombard Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a health policy from ICICI Lombard by last month. They have offered the policy based on my credit card experience. They have charged 10,800 rupees as a premium per annum. The policy period us 3 years. Am satisfied with the policy benefits. The customer service is excellent and they have explained well.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Jan 09, 2019
  • Apollo Munich Health Insurance
    "Good medical cover with Apollo"
    0.5 5.0/5 "Blown Away!"
    I got the medical cover of Rs. 3 lakhs its covers for my four persons, they got tie up with major hospital. I don't have any medical card but if I want to go for claim. There is a person who coordinate for Tata employee. They do have cash less treatment.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jan 09, 2019
  • Star Health Health Insurance
    "Its Good"
    0.5 3.5/5 "Pretty good"
    I have taken the policy personally from my end for my parents. Star Health is providing pre existing disease cover, and major disease cover like heart disease and they do have no claim bonus. Senior citizen plan is good for the elders it has the medical coverage value around Rs.3 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 09, 2019
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