The Magma HDI Health Insurance company is a premium health insurance provider in India. It is a joint venture between two giants such as India’s Magma Fincorp Ltd, and HDI Global SE, Germany. Headquartered in Mumbai, the company offers some of the best health insurance plans that cater to individuals as well as to families. The company also offers some excellent services in the areas of customer support and claim settlement, which give you some added benefits.
The OneHealth plan from Magma HDI Health Insurance is a comprehensive family floater health insurance plan. You can buy the plan for all the members of your family. It has a vast number of covers under it.
If you are left permanently or temporarily disabled following a road accident, you will get financial assistance from this policy. Also, if you die then your family will receive a death benefit. With the help of some riders, you can also get the cost of the medical expenses included in the plan, to make it more exclusive.
This is an excellent critical illness plan that offers a lump sum amount of money when you are diagnosed with a critical illness. You can then use the funds to clear your debts, create a corpus for your child’s education or pay for your expensive medical bills.
It is very easy to file a claim on the Magma HDI Health insurance plan. For a cashless claim, all you have to do is go to a network hospital, inform the insurance provider and your job will be done. For a reimbursement claim, you have to first pay the bill yourself and then submit the required documents. The insurance provider will then reimburse the amount to you.
The claim settlement process
For a cashless claim, you first need to go to a network hospital. If it is a planned hospitalisation, you need to inform the insurance provider at least 48 to 72 hours in advance about the impending hospitalisation and get your pre-authorization done.
Then, reach the hospital with the health card that you received from Magma HDI health insurance. Show the card to the hospital insurance desk and inform them of the cashless claim you wish to have.
However, in the case of emergency hospitalisation, you need to get admitted to a network hospital. Then, inform the insurance provider at the earliest, preferably within the first 24 hours and fill up the pre-authorization form immediately. Inform the hospital insurance desk too about the cashless claim and show them the Magma HDI health card.
Your treatment can begin basis the pre-authorization from the insurer. On discharge, the final bill is sent to the insurer for approval. Once received, you need to pay for the non-admissible charges like consumables, etc. while the remaining amount would be settled by the insurer.
To know whether your preferred hospital is a network hospital, click here and find the Magma HDI health insurance hospital list.
If you get admitted to a non-network hospital, you need to apply for a reimbursement claim after settling the bill on your own initially. The claim needs to be filed within 30 days of getting discharged from the hospital.
You need to submit all the original bills and memos, the doctors’ certificates, discharge summary, etc.
Once your application is cleared, the amount will be credited to your bank account. It is therefore important for you to keep all the original documents properly and submit them accurately to be able to make a good and effective claim that will not be rejected.
The process to renew your Magma HDI health insurance plan is very simple. You simply need to go online and click on the ‘renew policy’ option. You can continue with the same cover. All you have to do is enter your perineal details, the details about your existing policy and then pay the premium. Once that is done, your policy will be instantly renewed
Coverfox is a very good insurance aggregator that offers multiple services on one platform. You can compare the health insurance plans and then buy the best policy, depending on what your needs are. All the leading health insurance plans, including the Magma HDI Health Plans, are easily available on Coverfox. You can also use the premium calculator beforehand to understand the premium liabilities. This apart, you can read some genuine Magma HDI Health insurance reviews and then make your decision. Other facilities, such as health insurance renewals, are also available on Coverfox.
This is one of the most well-known health insurance providers in India. The company is well-known for its good range of health insurance plans, excellent customer support team and good claim settlement rates. In 2019, Magma HDI received the Golden Peacock Award for Risk Management.
The medical insurance covers from this insurer are economical and are very competitively priced, keeping the industry standards in mind.
Yes, there are many riders you can add when you buy a health plan from Magma HDI such as the hospital cash rider. You can add the riders when you buy a new policy or when you renew the policy after the completion of a policy period.
The OneHealth plan from Magma HDI is available in many variants and also for various coverage volumes. The maximum coverage amount that you can choose under this plan is a whopping INR 1 crore.
Yes, all the regular health insurance tax benefits are available when you buy a Magma HDI health cover. You can make a maximum tax saving of INR 75,000 a year.
