Benefits of Buying Cashless Health Insurance
Published On Feb 23, 2021 5:30 AM By Sakshi Aggarwal
The primary reason for buying health insurance is to guarantee strong financial support in the face of medical emergencies and other unforeseen circumstances. While buying health insurance, it should be seen that high medical expenses do not keep people away from receiving medical attention and for this reason, cashless health insurance is the need of the hour.
Cashless health insurance allows a policyholder to avail medical treatment without paying any extra sum of money from their own savings. The cost of your medical expenses is completely paid by the insurance company and all hospital's bills are also directly paid by them. Hence, it reduces your hassle of arranging for funds during any kind of health crisis. Let us find out about the other benefits of cashless health insurance from the points below -
Benefits of Buying Cashless Health Insurance
The following are the different benefits of buying cashless health insurance -
1. No Medical Expenses Payment
As mentioned above, one of the foremost benefits of buying a cashless benefit is the fact that you do not have to make any extra payments towards your medical expenses. Quite literally as the name suggests, any cost incurred by the policyholder for consultation, diagnosis, daycare services, or surgery is completely borne by the insurance provider. Expenses such as your pharmacy bills, room rent, hospitalisation, and nursing fees are all covered under cashless health insurance. The insurance company directly sends the money to the hospital or the health care centre you have availed treatment from and you need not part with your savings or long-term investments for your medical payments.
2. Assured Quality Treatment
Unlike other health insurances where you can get treated for a specific list of illnesses or disorders, opting for cashless health insurance means assured treatment. This is because, as a cashless health insurance policyholder, you have the benefit of availing medical supervision from a series of network hospitals that have an agreement with your insurance provider. Network hospital refers to a list or number of hospitals mentioned by your insurance provider, where you can visit and avail a cashless treatment benefit. Irrespective of the illness, disability, or disorder that a policyholder suffers from, they can visit any one of the network hospitals, without being rejected and have a guaranteed and quality medical response. It thus ensures that you have assured access to medical help and there is no compromise or latency in fulfilling your healthcare needs.
3. Aids In Emergency
Health-related complications can occur anytime, in anybody’s life. Instances such as a heart attack, a stroke, or a renal failure do not give us a prior warning before manifestation and it is also not possible to constantly have a source of contingent funds for sudden medical emergencies. It is during these situations that the benefit of cashless health insurance is felt more closely. Opting to secure you financially by paying for your medical expenses, cashless health insurance ensures that the policyholder does not die an untimely and unfortunate death due to lack of funds.
4. Avoid Negotiations
In certain cases, many people have to negotiate with hospitals for the arrangement of certain medical facilities and services. With financial considerations running high, some people are forced to halt their treatments for either a lack of infrastructure or extremely high expenses. However, cashless health insurances cover this aspect as well. Under such a policy, your insurance provider does all the negotiation and agreement on your behalf and arranges all the services and facilities that a policyholder requires. Covering your financial concerns fully, thus allows you to focus more on your health and recovery.
5. Covers Travel Medical Emergency
A medical emergency occurring while you travel is not rare. If you are engaged in a profession that requires you to travel frequently, it might get difficult to arrange for funds for s sudden health exigency. In such cases, having cashless health insurance is very beneficial, as its list of network hospitals across the country and foremost facility of transferring funds directly to the health center you seek medical opinion and treatment from reduces your challenges. You can thus work and travel without the worry of allocating funds for sudden medical emergencies and easily find your way out from such a mess.
These are some of the most significant benefits of availing of cashless health insurance. With the world shifting its gears towards digitization, having a cashless benefit health insurance is advisable. While it saves you from spending your own investments for medical expenses, it also protects you from bankruptcy and medical negligence. However, it is not mandatory for you to have health insurance that comes with a cashless payment benefit. You should choose a plan that aligns perfectly with your medical, personal, and financial requirements.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.