Just couple of weeks back, if you considered cashless health insurance policies as a lifeline, there was something to worry about.
From July 1, many insurance companies have stopped direct payment of treatment charges in New Delhi.
There were little chances that anyone could get these facilities at high-end hospitals in the NCR, Mumbai, Bengaluru and Chennai.
United India, New India, Oriental Insurance and National Insurance, these four state-run insurance companies, took the decision to stop cashless transactions at some hospitals.
It all started as several hospitals were making fake claims, showing higher-than-normal charges and cheating the insurance companies. In the Mumbai region alone, insurance companies collected Rs 900 crore (Rs 9 billion) towards medical insurance premium and had to shell out Rs 1,200 crore (Rs 12 billion) towards claim settlement.
In response, hospitals were seeing as image-damage and as a result, several hospitals have thus begun to reject cashless policies following the insurers' stance.
In this scenario, it’s the common man who suffered most as they had to bear the expenses from their own pocket if one was taking treatment from one of these hospitals.
However, the silver lining wasn’t very far. From the 1st September, any policy holder can have the same facility again but yeah, there would be some clauses.
But, it’s gonna be all well.
Now, if you want to understand the nuances of different types of policies and its price, feel free to seek the help of InsuranceMall to select the right products based on your need.
InsuranceMall is the leading and first online insurance broker in India. With the motto to make our customer delighted and proud about their decisions, we’re always there to help them with best possible policy.
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