General Insurance Council, India Launches Cashless Everywhere Initiative
Updated On Jan 25, 2024
The General Insurance Council (GIC), India in consultation with all the General and Health Insurance Companies, launched the “Cashless Everywhere” initiative on the 24th of January 2024. This initiative came in light to make the claim process seamless and easy for policyholders who get treated in a non-network hospital.
For your information, Non-network Hospitals are hospitals that are not in alliance with the policyholder’s insurer, and initially, the policyholders have to pay for their treatment and later get reimbursed for that amount by the insurer. Network hospitals on the other hand help the policyholders in getting cashless treatment conveniently as these hospitals have tie-ups with their insurers.
Under GIC’s Cashless Everywhere initiative, you as a policyholder can get treated in any hospital of your choice, and avail cashless claim facility.
Things to keep in mind for availing the Cashless Everywhere policy involve the following:
1. The customer should inform the insurer at least 48 hours before the admission in case of an elective procedure
2. The customer should inform the insurer within 48 hours of admission in case of an emergency procedure
3. The claim must align with the policy's terms, and eligibility for a cashless facility should comply with the insurer's guidelines
Mr. Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, and Chairman of the General Insurance Council, said:
“.....we are announcing “Cashless Everywhere”, to make customers' lives easy. Today if you see only about 63% of customers opt for cashless claims while the others have to apply for reimbursement claims as they might be admitted to hospitals that are outside their Insurer/TPA network. We feel this puts a significant amount of stress on their finances and makes the process long and cumbersome. We wanted to make the whole journey of claims a frictionless process, which will not just improve the policyholder’s experience but will build greater trust in the system. This we feel will encourage more customers to opt for health insurance......”
Also Read: Understanding the Difference Between Riders and Add-On Covers
