Health Insurance Revolution: Cashless Facilities Across All Hospitals in the Country Now Available

Cashless Hospitalization for Health Insurance Policyholders Now Mandatory in India

Effective January 25th, health insurance policyholders in the country can now avail themselves of cashless services in any hospital. This means that if you fall ill, you will not have to pay any amount for the hospitalization expenses at any hospital covered by your insurance. The insurance company will now cover the entire cost of your treatment, including cashless hospitalization, under your insurance coverage.

This initiative, known as ‘Cashless Everywhere, was launched yesterday, January 24th, by the General Insurance Council. Tapan Singhel, the Chairman of the General Insurance Council, provided this information. The initiative is part of the efforts by the General Insurance Council, which was established in 2001 by the Insurance Regulatory and Development Authority of India (IRDAI), to work closely with IRDAI and the life insurance industry.

New Health Insurance Policy Benefits and Features in India

Recently, around 67% of health insurance policyholders in India have started availing the cashless hospitalization facility. This initiative has been launched by the General Insurance Council (GI Council), providing significant advantages to policyholders. According to Segar Sampathkumar, the Health Insurance Director of the GI Council, insurance companies will now collaborate with hospitals to offer cashless services.

Key Advantages of Health Insurance Policies:

1. Covers OPD Expenses:
   • Health insurance policies cover all necessary expenses related to Outpatient Department (OPD) consultations. This includes doctor visits, pharmacy bills, and regular check-ups.
2. Post-Hospitalization Coverage:
   • Health insurance policies take care of post-hospitalization expenses. This means that after being discharged from the hospital, the overall expenditure incurred by the policyholder will be covered.
3. Coverage for Pre-existing Conditions:
   • If any pre-existing conditions were disclosed while purchasing the policy, they will also be covered by the health insurance company after a waiting period.
4. Cashless Hospitalization Facility:
   • Policyholders can now avail of cashless services in designated hospitals. This feature simplifies the entire claim settlement process, and the insurance company settles the entire hospitalization bill.
5. Availability in Emergency Cases:
   • In emergencies, policyholders need to inform the insurance company within 48 hours of hospitalization to avail of the cashless facility.
6. No Additional Charges:
   • This benefit is provided to all policyholders without any additional charges.
7. Coverage in Designated Hospitals:
   • The cashless facility is applicable in all hospitals with 15 or more beds that have been recognized by the state health authority.
8. Coverage for Existing and New Policyholders:
   • Both existing policyholders and those purchasing new policies can benefit from this provision.