Claiming Health Insurance Know What You Need To

The WHY and BASIS of selecting HEALTH COVER:

The decision to get coverage for probable health issue in the future should be done with a fair amount of thought. When deciding upon the insurer for your medical issues, the matter of claiming health Insurance, India especially plays a pivotal role in the decision making process. Things to keep in mind when selecting the type of cover would be:

The completeness of the cover, i.e., whether diagnosis as well as after care are covered.

Health issues based on family health history, lifestyle and budget tend to play a significant role here.

The insurance provider is only liable for items covered by the policy and hence the whether the black and white covers all that which was verbally promised must be checked.

When considering the budget, one should also consider the monetary savings as a result of claiming health insurance on taxes which is directly related to the amount expended in this regard each year under section 60 D of the Income Tax Act,1961.

Health insurance is witnessing phenomenal annual growth for the simple reason that when a loved one is down with any ailment; one does not want to have to worry about treatment costs. Each year more and more people make this realisation. A few stages are involved in this process:

Claim Items and Amount:

Nowadays some companies also provide for incidental expenses incurred by the care giver or attendant of the patient and residence to hospital ambulance charges as well. Some even provide for treatment related expenses incurred at home and hence these items should be carefully identifies when comparing and selecting n insurance policy. One should also remember to maintain to keep all documents for claiming health insurance rebate under section 80 D.

Claim procedures as well as time of claim:

The process usually is either expenses reimbursement or cashless. In cashless claim (a number of reputed hospitals are usually tied up with and they bill the insurer directly) would necessitate treatment at a network hospital. In case of reimbursement the insurer should ideally be informed in advance or within a day of getting hospitalised.
Claims Rejection:

Health insurance claim adjusters are people who reject or pass the claims submitted. Thus, one should have absolute clarity about the claims process, especially documentation and what the policy covers in what proportion.

It would also be prudent to get a background check on the insurer to see if it is notorious for denial of claims or has a very complex claims settlement process. For this the Health insurance claims data for the particular insurer may be checked or simply querying the broker about the same and even looking it up online.

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