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With so many options, health insurance products can confuse you while selecting the best mediclaim policy. You may find below pointers relevant while looking for a health insurance policy that meets your requirements.
Mediclaim policy is essential in the present times of ever-increasing healthcare expenses. Today, a fair number of people are aware of the need for and benefits of health insurance. However, a large portion of the population still considers health insurance plan just a tax-saving instrument. With a comprehensive health insurance policy, you can take care of the medical expenses to a large extent. The reasons you need a mediclaim Policy is quite evident, once you consider the following:
We have listed below a few tips to consider while choosing a mediclaim policy:
Go for family floater plan: Individual medical plans are designed, keeping the needs of an individual in mind. But, if you are a family person, we recommend you to buy a family plan, which covers your entire family. This way, you don't have to obtain a separate plan for each family member and keep them secured against unwanted medical emergencies. The premium amount is also less as compared to individual mediclaim policies and the sum assured is higher which can be utilized all the insured members.
Choose the sum insured smartly: It is vital to choose the right sum insured based on your family status and age. At a young age, the odds of getting the illness is less. However, your medical requirements will evolve as you get older. Similarly, once you are married, you should choose the sum insured of your health policy considering the health status of your spouse and other family members as well.
Consider the network hospitals: Health insurance policy enables you to avail cashless treatments at network hospitals which are a group of hospitals associated with your insurance provider. Always consider an insurer that has a wide network of hospitals in the area where you reside. There is no point buying a mediclaim policy if you are struggling to find a network hospital to avail the cashless benefit.
Don’t forget to compare premium: It is important to compare health insurance plans as well as premium. You can compare various health plans online in terms of features, benefits, cost, maximum services, etc. Picking a policy without considering all the options available in the market is like inviting regret. By comparing different plans, you can avail these benefits at comparatively cheaper premium rates.
A health insurance claim is a formal request that a policyholder submits to the insurance company for obtaining the benefits that are covered in their health plan. The policyholder can get reimbursed or can opt for cashless settlement for the availed treatment. In this way, you can either submit the claim request or can avail cashless treatment at a network hospital.
The authorisation process for mediclaim
As soon as the insurance company receives the intimation from the policyholder, it verifies the validity of the policy and coverage offered to the insured. After that, an executive or third party administrator is assigned to facilitate the request for the pre-authorisation and cross verify the claim. After verification, the medical team of the insurer approves the claim for the policyholder as per the terms and condition of the policy.
Important considerations to avail health insurance claim
List of documents required for health insurance claim submission
We believe you will find this article helpful in making a firm decision at the time of purchasing a health insurance policy. With plenty of health plans available in the market, it is quite a tedious job to find the best health insurance plan. Hence, it is wise to compare different plans and choose the one that meets your health insurance requirements at a reasonable cost.
Recommended Link:Why is Mediclaim the Best and What are its Benefits?