Cashless Health Insurance claims are a mode of medical bills settlement where a health insurance policyholder need not pay out of their pocket. All the medical treatment bills are settled directly between the hospital and the insurance service provider.
However, in most cases, you can avail the benefit of cashless treatment from the network of hospitals where your insurance provider is a bonafide member. When you get admitted to one of the network hospitals of your insurance provider, you have just to show your cashless health card and no need to pay for cash further treatment.
Difference Between a Cashless and Reimbursement Medical Claim
Most health insurance companies offer two types of health policies. In both types of policies, you have to pay a certain fixed amount every year to get a health cover to protect you along with your family members. However, the overall process of claim settlement against your medical expenses depends on the policy holder and how he wants to claim it.
The same can be explained as under:
· Cashless Health Insurance: Under this type of health insurance scheme, a policyholder has not to pay anything in advance or for any medical expenses out of their pocket. The cashless health insurance process ensures a totally cashless treatment and the settlement of the bill is directly done between the insurance provider and the hospitals.
· Reimbursement Claims: In this type of health insurance cover, a policyholder has to pay from his pocket for all the medical treatment undergone in a hospital. Later he has to collect all the documents, and copies of the medical bills paid and has to claim the reimbursement from the insurance company. Once all the documents are verified, the company pays the policyholder for the medical expenses undergone.
Types of Cashless Health Insurance Plans
There are three main types of health insurance plans offered by insurance companies.
· Cashless Family Health Insurance Plan: This cashless insurance scheme entitles you along with your family to avail of cashless treatment under a single policy. There is no need to buy and maintain different policies for various family members. The family members include self, spouse, son, daughter, mother, and father. Moreover, the companies offer good discounts on family health insurance plans.
· Cashless Senior Citizen Health Insurance Plan: Specially designed for senior citizens, this health cover offers health coverage including ambulance charges, and even some pre-existing diseases, subject to the terms of different health insurance providers.
· Cashless Critical Illness Health Insurance Plan: This type of health cover is most suited for patients who are already struggling with a critical illness including cancer, heart disease, diabetes, and other types.
GMoney Health Card
A smart health card from GMoney is another type of medical assistance to help you meet your emergency financial requirements. This digital health card is similar to a credit card. These cards also act as a medium for cashless treatments in most hospitals all over India.
Also, you can use a GMoney health card to pay for your medical bills. The most amazing feature of these smart health cards is that you are allowed to repay in no-cost EMIs, as per your monthly budget and tenure. Soon people can buy Cashless Health Insurance Policy on Monthly EMI using GMoney Digital Health Card.
Conclusion
A medical emergency can strike anytime and with anyone. Meeting medical funds may be difficult for anybody. Cashless health cards and insurance policies are a good instrument to help you meet your medical expenses as and when required.
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