Ans. Medical or Health Insurance policy is for everyone, either individual or whole family.
Ans. Medical Policy is also known as health policy. This type of policy covers medical expenditure
like .hospitalization, surgical expense, medical bills etc. of the insured person if the insured person becomes sick or gets injured in accident.
Ans. Good health is the biggest wealth for person. However we cannot predict future as there are always uncertainties in oneís life. One can never know when he or she is going to suffer from disease of injury due to accident. Due to some or the other reason those unexpected expenses can take away all your savings. That is the one of the main reason to have the medical or health insurance policy.
Ans. All medical or health insurance policies are entitled for the Income Tax benefit Under Section 80D.
For cashless claim, insured has to get medical treatment first at network hospital and then can admit with health ID card, which is provided along with the health policy. Confirm with the hospital to fill the claim cashless request form and submit the same to insurer within specified time limit mentioned by the insurance company.
Once the form is submitted to insurance company / TPA will issue and authorization letter for the insurance cover to network hospital. Insurance company will directly settle the bill amount with hospital. In case the treatment is excluded from the plan, a claim rejection intimation letter will be sent to the insured person.
If the cashless process is not settled then insured person can ask for reimbursement of the claim amount. For reimbursement health insurance claim, one has to intimate the insurance company / TPA about the hospitalization if admission is done outside network hospital within specified time period by the insurance company. Insured person has to complete the treatment and then pay the bill. Get original copies of all the necessary documents from the hospital.
One has to submit all those papers along with duly filled and signed claim form to the insurance company / TPA once the insurance company or TPA review the documents and releases the payment within certain time limit. In case the treatment is excluded from the plan, a claim rejection intimation letter will be sent to the insured person.
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