Jiyo Healthy!

Kartik Iyer, 24, an advertising professional was advised to buy a health insurance policy by his friend. Kartik did not take this advice seriously; he had a list of reasons for not buying health insurance policy.

He felt that he is young and healthy and therefore he will not contract any illness. Even if he is hospitalized, he thought that he could always handle the bills himself. He had the impression that claims in a health insurance policy are always rejected or you have to go from pillar to post to get them settled.

Sometime later he met with an accident and was hospitalized for 20 days. Kartik could not afford to pay his bills and his father had to pay the hospital charges for him. Even though Kartik is young and earning pretty well for his age, he had to depend on his father.

If only Kartik had taken a health insurance policy, his bills would have been taken care of by the health insurance company! And he would have remained trouble free, at least in the matter of finance.

Young people refrain from buying a health insurance policy as they feel it needs to be taken only when they grow older as they do not need insurance in their prime. They don’t understand that health insurance is a cover against uncertainties in life for which you might not be prepared. So like Kartik you may be young and healthy or feel that you can handle your hospital bills but no future is guaranteed. Today, the cost of medical treatment is on the rise and even a small accident or disease can suddenly wipe out your bank balance So, you need something that will provide security against expenses due to hospitalization costs.  So it is smarter to bank on a health insurance policy that will take care of those expenditures.

If, like Kartik, you also believe that claims in a health insurance policy are always rejected or that you have to go pillar to post to get it settled, you are mistaken. If you have all the proof and the right documents with you, your claim gets approved without any hassles.

Claims can be made in two ways:

• Cashless settlement: If the treatment is sought in a network hospital of the insurance provider the insurance company pays the hospital directly through their Third Party Administrator. This type of settlement is called as “Cashless settlement”.
• Reimbursement: If the treatment is done at some other hospital, you can file a claim for reimbursement with the health insurance company’s Third Party Administrator after you have paid your bills. Then the TPA will pay you back the amount after examining your claim.

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How can you claim health insurance?

Tags: cashless settlement to claim health insurance, Reimbursement with health insurance policy