Understanding How Health Insurance Works

Health Insurance: How It Operates

Health insurance acts as a financial safety net that helps you with medical expenses so you can access timely healthcare without putting a strain on your finances. Just by paying regular premiums, you obtain benefits such as cashless treatments, reimbursements, and coverage for critical illnesses. But first, you must understand how health insurance works so that you can select the right plan and make the most of its advantages for your peace of mind.

Overview of How Health Insurance Works

In India, many reputed health insurance providers are present who sell comprehensive coverage to plan seekers systematically. After that, claim settlements are also handled by these companies smoothly.

Here is a breakdown of the entire process of how a health insurance policy works:

• Securing the Policy

Individuals and families can purchase medical insurance policies from both private and public insurance companies, either online or offline. 

To secure these policies, you must pay either a monthly or yearly premium as intimidated by your insurer. Subsequently, if you encounter medical emergencies or require hospitalisation, the insurance company will arrange for cashless treatment or reimbursement, as applicable.

• Claiming the Policy

When an emergency medical condition arrives, the insured person must call their insurance company promptly and file a claim adhering to the policy terms. Apart from hospitalisation costs, standard medical insurance also pays for pre- and post-hospitalisation medical bills, ambulance costs, and a wide range of other related expenses. 

Therefore, you must be well aware of your health insurance policy to reap the maximum possible benefit. 

• Assessing the Effectiveness and Deciding Whether to Opt for a Renewal

The root of an effortless cash settlement or reimbursement process lies in effective communication between the insurance provider and the insured. However, to ensure this facility, you must stick to timely premium payments and follow all the insurance plan guidelines throughout the term.

If, despite timely premium settlements and accurate document submission on time, you encounter difficulties in the cash reimbursement process, you may consider porting your insurance plan.

Most insurance companies provide their dedicated customer support number where you can claim cashless treatment facilities. For instance, if you have a Star Health insurance plan, you can call us at 1800 425 2255 / 1800 102 4477 to quickly claim your health insurance benefits.

Also read:-

→ What Does Health Insurance Cover

→ What Happens If Your Health Insurance Expires

→ What is a Cumulative Bonus in Health Insurance

→ What is a TPA in Health Insurance

→ What is Aggregate Deductible in Health Insurance