There are several benefits attributed to cashless hospitalization offered under health insurance. But before we delve into these benefits, it is important to know what cashless facility in health insurance is. Under cashless health insurance, the insurance company handles payment directly with the treating hospital. This eliminates the need for the policyholder to make upfront payments for medical services. Typically, insurance providers have affiliations with specific medical institutions, known as network hospitals. To take advantage of the cashless feature, policyholders must receive treatment at one of these affiliated facilities. Read on to learn more about the benefits of cashless facilities in health insurance.
Benefits of cashless facility in health insurance
The following are some of the benefits of cashless facilities in health insurance:
- If you or any of your family members face a medical emergency, paying for expensive treatments out of pocket may not be viable. However, having a cashless health insurance card in your wallet can provide you with a smooth path through such a crisis.
- Finding yourself in a medical emergency can be distressing. What's more, if you're in a situation where you have to arrange funds for medical treatment, it can turn into a deeply concerning scenario. However, suppose you're part of a health insurance plan, and your insurer has an extensive network of hospitals nationwide, even when you're exploring a new city. In that case, you can easily tap into the cashless health insurance feature at any of the affiliated hospitals.
- Paying for hospitalization treatment yourself and then raising a reimbursement claim may be a tedious procedure. On the other hand, cashless treatment is very convenient, and your bill is cleared at the time of discharge itself. This way, you can focus on your treatment instead of worrying about medical bills.