Posted by The significant step of financial planning is to purchase a proper health insurance plan that suits your requirements. If you are looking to purchase one for yourself, you can choose to get it from the best health insurance providers like Manipal Cigna health insurance and Niva health insurance plans. They offer extensive coverage and are very popular in the Indian market. You can easily apply for it online from the comfort of your home.
However, one must know all the attributes and inclusions of a health insurance plan before purchasing it. Here are all the details about the reimbursement claim of a medical insurance policy. Read to know more!
A medical insurance policy helps you in covering a sudden hospital bill, doctor bills and other expenses but it does not reimburse you for the hospital bills incurred. Manipal Cigna health insurance and Niva health insurance provides reimbursements from the policies you have purchased. Getting a professional advice is highly recommended before purchasing a medical insurance plan as some plans might be a hit or miss.
Difference between Cashless Claim and Reimbursement Claim
With a cashless claim, you can receive care from the network of hospitals without having to pay out of pocket, thanks to your health insurance. Instead of billing you, the hospital sends the bill straight to the insurance provider, who then pays it. So, you may go to a hospital that is a part of your insurance company’s network and present your ID and health e-card to the staff. Acclaimed insurance providers like Manipal Cigna health insurance have more than 7000+ networks of hospitals for cashless benefits.
Under the reimbursement claims criteria, you can get treated at any hospital, not simply those in the cashless network of your insurance. Here, you receive treatment at the hospital, pay for it out of pocket, and then submit a claim for reimbursement from your insurance company. You must present all of your hospital bills, medicines, and medical records while filing the claim. Just keep in mind that your health insurer must approve your claim.
All about Reimbursement Claims
A reimbursement claim refers to compensation paid by a company for money already spent. In terms of Mediclaim policies, reimbursement claims mean paying the hospital bills first and obtaining compensation from your insurance company at a later date. The Niva health insurance is a good option for you if you are looking for Reimbursement claims.
Initiative
You have to make efforts to get your claim money from an insurance company when you make a reimbursement claim, not the cashless reimbursement process where the insurance company settles the bill directly with the hospital. Taking the initiative to arrange documents, make the application, follow up, etc., is necessary when claiming reimbursement for a Mediclaim policy. You can go with the Niva health insurance as its claim reimbursement procedure is not too complicated.
Documentation
Mediclaim policies require careful arrangements of hospital bills and other supporting documents during the reimbursement claim process. When submitting documents, you might have to deal with a Third-Party Administrator (TPA). This step varies according to the insurance company’s policy. If you are required to submit the original documents, keep photocopies of them. The Niva health insurance is a better path for you as has more than 7900 hospitals in its network. You can also easily file for your claim process online at ease.
Scrutiny
Whenever a reimbursement claim is submitted, the TPA or insurance company scrutinizes it. In this case, it is crucial for them since the claim is not a cashless one and they are not directly associated with the network hospital. Therefore, the claim raised must be authenticated in an additional way. The Manipal Cigna health insurance is a good option for you.
Time-Consumption
Since reimbursement claims have to go through a verification process, they take more time than cashless claims. It, therefore, pays to be patient and cooperative with your insurance provider or TPA in terms of whatever questions they may have.
conclusion
There are many benefits of buying an insurance policy. When you purchase a health insurance policy, you can get the best treatment of your illness and even have access to treatment in case of an emergency. The reimbursement claim is one of the most important aspects of any insurance policy. It helps in knowing how much extra money you’ll get after cancelling your medical insurance premium. Knowing more about the reimbursement claims will help you choose the best health insurance plan for yourself.