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Cashless Hospitalization Benefit- Here’s what you should know

Posted by Royal Sundaram on 14 Jan 2019

Cashless-Hospitalization-Benefit-Here-what-you-should-know

With the rising medical costs, buying a health insurance plan has become a necessity. Mostly health insurance companies nowadays are coming up with cashless health insurance policies that will save you from the hassles of paying cash at the hospital. Simply purchasing, a cashless health insurance removes all the hassles of paying cash during times of need. In fact, cashless health insurance is of great benefit during medical emergencies.

How does a cashless health insurance plan work?

When you get a cashless health insurance policy, all your medical bills will be covered by the insurance company and thus, eliminating the need of paying cash from your pockets.

 

What is the process?

You can avail the benefit of cashless hospitalization only if you take medical treatment at one of the network hospitals of your insurance company. In order to avail the cashless benefits of the health insurance plan, you need to visit one of the network providers of your insurance company. Thus, it is important to know whether the concerned hospital is present in the network of hospitals of health insurance plan or not.

 

Benefits of cashless hospitalization –

Here’re the following major benefits of cashless hospitalization:

  • * It reduces financial burden: This is one of the most important benefits of cashless hospitalization. These health insurance plans are useful in case of emergency situations, for instance, if an ailing patient is brought to a hospital, he or she may not be able to arrange for the necessary funds at that particular time. Therefore, you don’t have to worry about meeting your healthcare expenses.
  • * It offers coverage during travel: Anything can happen at any point of time in life, even while traveling. At any unfamiliar place, you may not have your family or friends who can help you out. Instead, you may simply visit the wide range of hospitals and avail the benefits of cashless health insurance policies.
  • * It provides tax benefits: Under Section 80D of the Income Tax Act, 1961, the premium paid towards the health insurance policy is eligible for tax benefits.
  • * Peace of mind: A major advantage of cashless insurance policy is that it offers peace of mind. It guarantees quality treatment and focus on the speedy recovery without having to worry about the medical bills.

The best health insurance policy not only covers your medical expenses, but also comes as a saviour in case you need instant hospitalization but don’t have enough cash in your hands.

 

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