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

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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

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Cashless Health Insurance Reviews

Page 1 of 50 1 2 3 4 5
  • National Insurance Health Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using the corporate insurance policy for health since from last 4 years. I had no claim experience also the policy has the medical coverage of 2L for family added on that the policy has the disease coverage as illness coverage. The listed hospital is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • Future Generali
    Future Generali Health Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I am using health insurance policy with FUTURE GENERALI GENERAL INSURANCE since from last one year and the premium paid was 1400 rupees it gives the medical coverage of 5L for family. The listed hospital is good also the customer support is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 23, 2019
  • Bajaj Allianz Health Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I had no claim experience but using from last 5 years. The premium paid buy the company and it is a corporate insurance policy, medical coverage is for 3L for family coverage apart from that they have no additional coverage in this insurance policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 23, 2019
  • Religare Health Insurance
    "More than satisfactory"
    0.5 5.0/5 "Blown Away!"
    Religare health care was quick to send me the policy papers after I purchased my health policy through them. I have take the policy for my whole family. The medical coverage is of 12 lakhs and the premium is of 15K which is paid on a yearly basis. There are so many benefits on the card.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 23, 2019
  • HDFC Ergo Health Insurance
    "Satisfied"
    0.5 5.0/5 "Blown Away!"
    It is a corporate health insurance policy with HDFC Ergo. It is a family floater and I got the medical card for each member as well. The medical coverage is of five laksh for the whole family. It was a easy process to get the policy and the details .
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 23, 2019
  • Bajaj Allianz Health Insurance
    "Great experience"
    0.5 5.0/5 "Blown Away!"
    I prefer Bajaj since have been getting good services on various parameter. I took a medical policy with BajaJ Allianz for one year. It covers 3 of family member and 1 individual. Monthly payment is Rs.1024 for family and individual is Rs.645, the best thing is need to pay only 10months and 2months are exclusive. They are providing good medical coverage.
    Was this review helpful? 0
    , vadodara
    Reviewed on Jun 22, 2019
  • Star Health Health Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I had no claim experience with health insurance where i am using it from STAR HEALTH & ALLIED INSURANCE since last 2 years. The premium paid was 15k and the medical coverage is for 5L for 4 person. The listed hospital is good. I got the health card with this policy.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 22, 2019
  • Tata AIG Health Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    My employer has provided me a health insurance policy from TATA AIG and the premium is being deducted from my salary. I do not have any claim experience till now. My entire family has been covered in this policy. I got the coverage amount of Rs. 5 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 22, 2019
  • New India Health Insurance
    "Average"
    0.5 4.0/5 "Great!"
    I took a health insurance with New India Assurance which was suggested by well known agent to me. The medical coverage is 2L and the policy covers only myself. I have paid premium near about 4 to 5K for one year policy. I got the insurance paper and E-cards on time. I have no claim experience.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jun 22, 2019
  • Oriental Insurance Health Insurance
    "Overall good"
    0.5 4.0/5 "Great!"
    I feel the Oriental insurance policy cover is lesser, they quoted only Rs. 3 lakhs its cover entire family, it has no claim benefits and cash less treatment facility available. They got tie up with many hospital, they improvement sum assured as per current scenario.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 22, 2019
  • review Health Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I got a health insurance with Iffco Tokio which was offered by company. Recently have utilized the policy for wife pregnancy. The claim process is excellent and not even single rupee have been paid by my pocket. They have asked for pan card, health card and company id card and the procedure is simple with less documents.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 21, 2019
  • Star Health Health Insurance
    "So far good"
    0.5 4.0/5 "Great!"
    I took a health insurance with Star Health and it was suggested by one of my friend. He is working in the same company so its much easier to get a help from knowing person. I have no claims and am paying 6K to purchase the policy. It covers 2kids and 2 Adults, the medical coverage is 5L.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Jun 21, 2019
  • Religare Health Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    Its more than a year with Religare and have several claims which was good. They have covered 5L health insurance for my family and it included 3members. They have multiple networks of cashless and its easy to claim. It covers all type of disease. Its a corporate health policy.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 21, 2019
  • New India Health Insurance
    "Need scope of improvement"
    0.5 4.5/5 "Excellent!"
    I have New India assurance health policy, the employer gave me Rs. 3.5 lakhs of medical cover it protects me, spouse and son. I faced a claim when my son was admitted hospital for one month, I got the reimbursement upto 90%. They have to take action quickly and they should give cash less treatment for that they should tie up more hospitals.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 21, 2019
  • Star Health Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    My company had provided me health insurance with Star health insurance, the medical coverage is up to 7,00,000 whenever i want to apply it would be cashless treatment, they have tie up with many hospital , my experience was good with them. Their customer care service is good.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Jun 20, 2019
  • Star Health Health Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have applied the claim twice from Star health insurance. On the emergency purpose, the hospital is not covering for cashless facility hence i have submitted all the documents and proceed the claim. Within 7 days, they have processed the claim. I have taken the policy for my entire family. Earlier i took a family covered policy and when I'm renewing the policy, i have taken two separate policy for myself and my parents.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 19, 2019
  • Star Health Health Insurance
    "Reasonable policy"
    0.5 3.0/5 "Satisfactory"
    One of relative who is working as a agent has forced me to take the health insurance policy from Star. I have taken the policy for my family. Since my wife is taking care of the policy, I'm not sure about the premium and coverage value. I do not have any claim experience so far.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 19, 2019
  • National Insurance Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I had a claim experience many time where and it was cashless also reimbursement, i got 80-90% claim. I am holding since from last 10 years also paying the premium for 6K for medical coverage of 1L. The disease, pre existing disease, illness, accidental coverage is there.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jun 18, 2019
  • Reliance General Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have taken health insurance with Relience GENERAL INSURANCE for my family , the agent had given me all informations and shared me the location which they have tie up with many hospital, the premium amount i use to pay on yearly basis ,the medical coverage i have taken up to 10,00,000.
    Was this review helpful? 0
    , kanpur
    Reviewed on Jun 18, 2019
  • SBI General Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been taken my health insurance with SBI general insurance, their service is good, i have been paying it from past 3 years, so far my experience was good, the premium amount i use to pay on yearly basis, the medical coverage is up to 10,00,000 , i have taken top with this insurance company,i use to pay premium to an agent directly.
    Was this review helpful? 0
    , kanpur
    Reviewed on Jun 18, 2019
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