CASHLESS NETWORK
Why can your insurance claim get rejected & how to avoid it?
All health insurance policies have a life-long renewal clause which the regulator has mandated. They cannot be rejected and your pricing cannot go up purely because you have a condition right now. So, certain benefits are inbuilt and benefits that the customer can take, says Deepak Yohannan, CEO, MIC Insurance Web Aggregator
How brands should inspire politicians to move away from 'divide' and 'drown’ to ‘unify' and 'thrive’
Political parties should be emulating those marketers who have already cracked New India. To narrow-cast our population as a fundamental oneness, courtesy technology and aspiration. Then to engage experientially, with customer-centric regional empathy.
NHCX, a single portal for all health insurance claims soon: what is the claims process, benefits to policyholders
The digital platform, to be launched in 2-3 months, will speed up and standardise claim settlement process, leading to cost benefits for the insured.
No more out-of-pocket expenses: The impact of 'Cashless Everywhere' on health insurance
The 'Cashless Everywhere' initiative by the General Insurance Council and insurers like Bajaj Allianz aims to provide hassle-free access to quality healthcare at any hospital, reducing financial burdens and ensuring prompt medical assistance for policyholders.
Cashless health insurance at all hospitals now but network hospitals are still better option for ‘assured’ cashless treatments
On paper, cashless everywhere is a great initiative as it aims to reduce out-of-pocket expenses of policyholders for medical treatments. However, health insurance policyholders need to keep a couple of things in mind before opting for a cashless everywhere facility at any hospital. You need to understand if you go to a non-empanelled hospital, how it will charge you for the treatment. Read here to know more
Health insurance rule change: Cashless treatment at any hospital from today; how to get it, charges
Till now, a health insurance policyholder can get cashless treatment only at network hospitals with whom the insurance company has tied up. If it is a non-network hospital, the policyholder has to pay the entire amount from his pocket and then go through the cumbersome claim reimbursement process. The General Insurance Council in consultation with general and health insurance companies has launched 'Cashless Everywhere' to extend the cashless treatment at all hospitals. What is the new rule? How to get cashless treatment at any hospital? Know here
Health insurance: Cashless treatment at any hospital now as insurers launch new initiative
The General Insurance Council has introduced an initiative, 'Cashless Everywhere', to facilitate cashless hospitalization for policyholders even in non-empanelled hospitals. Hospitals with 15 beds, registered under the Clinical Establishment Act, can provide cashless hospitalization.
Health insurance claim reform: Cashless treatment at any hospital may be a reality next year; how it will help
Till now, a health insurance policyholder can avail of cashless treatment only at network hospitals with whom the insurance company has tied up. Each insurance company has an independent network of medical service providers that they have a tie-up with. The insurance regulator, along with the General Insurance Council (GIC) has proposed to introduce a 100% cashless network that will include both empanelled and non-empanelled hospitals.
Health insurance new features: Common cashless network across the country, 100% cashless system to be launched soon
IRDAI is planning to introduce two new features in the health insurance policy — a common network for hospitals for all health insurance policies issued by any health insurance or general insurance company across the country and a 100% cashless settlement system. These two initiatives will help insurers to provide an integrated and comprehensive cashless hospital network to customers to ensure that their claims experience is seamless and hassle-free. Read on to find out more about it.
India’s banks are making $64 billion from a freebie
India saw over 10 billion cashless transactions in August, with most of them being online and cost-free. However, customers using mobile-phone wallets to pay bills over 2,000 rupees are subject to a 1.1% fee. Despite concerns about the lack of profit motive, India's payment revenue reached $64bn last year, making it the fourth highest globally.
Cashless or not? Discover the key indicators of bike insurance with hassle-free claims
Having a comprehensive bike insurance policy with cashless claim benefits is important to protect your two-wheeler from potential risks on the road. Cashless claims allow you to get repairs done at authorized network garages without any upfront payments, as the insurer directly settles the payment.
Despite high medical inflation only 15% of Indians made health insurance reimbursement claims above Rs 1 lakh
A survey has revealed that only about 0.2% Indians had made and received a health insurance reimbursement claim above Rs 10 lakh during April 2022-March 2023.
Women no longer taking a backseat in running a business: HP Singh, Satin Creditcare Network
Also, where microfinance is extended to women in the rural system i.e. finance is provided without the collateral, women are coming to the forefront and running their family businesses or the businesses that are run on their own. So, as against the earlier instance where women used to take a backseat in running the business, they have come forward in a significant way and that is the real change that has happened.
Cashless treatment at preferred hospital under health insurance policy to get easier: Here's why
Most policyholders buy a health insurance cover primarily for the wider cashless claim facility. Expanding the scope of the most sought-after feature of the health insurance policy will increase its attractiveness.
IRDAI gives insurers freedom to empanel hospitals for cashless treatment
Earlier, only those network providers which were registered in the Hospital Registry ROHINI maintained by Insurance Information Bureau (IIB) could be empanelled by the insurers.
India's digital payments market will triple to $10 trillion by 2026: PhonePe-BCG study
According to the PhonePe-BCG study, UPI has supercharged India’s transition to non-cash payments, especially in person-to-person (P2P) fund transfers and low-value merchant (P2M) payments.
Soon make cashless card withdrawals across all banks and ATM networks using UPI
The Reserve Bank of India (RBI) suggested allowing interoperability in cardless cash withdrawal operations at all banks and ATMs utilising the UPI feature at its monetary policy meeting on April 8, 2022.
Hospitals can’t deny cashless Covid claims, rules Irdai
Union finance minister Nirmala Sitharaman too tweeted about this on Thursday evening saying: “Reports are being received of some hospitals denying cashless insurance. Spoken to chairman, Irdai SC Khuntia to act immediately. In March’20 Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals.”
FM asks IRDAI to act against insurers for denying cashless claims
"Reports are being received of some hospitals denying cashless insurance. Spoken to Chairman, IRDAI Shri SC Khuntia to act immediately. In March'20 #Covid included as a part of comprehensive health insurance. Cashless available at networked or even temporary hospitals," the minister said in a series of tweets.
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