In a landmark development, the General Insurance Council (GIC), in partnership with general and health insurance companies, has introduced the pioneering ‘Cashless Everywhere’ initiative. This transformative step empowers health insurance policyholders to avail cashless treatment at any hospital, regardless of whether it is within the insurer’s network.
Prior to this initiative, policyholders were limited to cashless treatment at network hospitals, leading to potential out-of-pocket expenses and complex claim reimbursement processes when seeking treatment at non-network hospitals. With the ‘Cashless Everywhere’ system:
- Freedom to Choose Hospitals: Policyholders have the freedom to choose any hospital for treatment, irrespective of its network status.
- Cashless Settlement: Insurance companies will directly settle medical expenses with the hospital, offering a seamless and hassle-free cashless experience.
To benefit from the ‘Cashless Everywhere’ facility at a non-empanelled hospital, policyholders must adhere to the following guidelines:
- Advance Notification: Provide advance notification to the insurance company at least 48 hours before admission for elective procedures.
- Emergency Notification: In case of emergency treatment, notify the insurance company within 48 hours of admission.
- Admissible Claim: Ensure that the claim is admissible as per the policy terms, and the cashless facility aligns with the insurer’s operating guidelines.
The new initiative aims to relieve financial stress on policyholders during hospitalization and simplify the claims process. Particularly advantageous for individuals in tier 2 and tier 3 regions, it grants access to quality healthcare without the burdensome reimbursement process.
Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, highlighted the frictionless claims process and enhanced policyholder experience, fostering trust in the system. The move is expected to encourage more individuals to opt for health insurance.
Siddharth Singhal, Business Head – Health Insurance at Policybazaar.com, underscored the positive shift in the health insurance industry and the reduction of financial burdens associated with reimbursement processes.
The ‘Cashless Everywhere’ initiative stands as a significant collaboration within the health insurance industry, providing policyholders with unprecedented flexibility and convenience in accessing healthcare services nationwide.
