On an alarming note, Bajaj Allianz CEO Tapan Singhel, who is also Chairman of the General Insurance Council, said the industry’s ‘Cashless Everywhere’ proposal has faced pockets of resistance from the hospital ecosystem.
Any port in a storm, goes the saying, but if you are planning to change your health coverage provider for whatever reason, porting your policy will protect you from unseen tempests
The product scores highly on claim parameters, features and hospital network, but prospective policyholders should study waiting periods for specific diseases and co-pay for policyholders from smaller towns who opt for treatment in bigger cities.
The prospect of availing of a cashless facility even at a hospital that is not part of your insurer’s network seems appealing, but there are many practical challenges. If the hospital and the insurer fail to reach a consensus in 48 hours, patients will not get the facility. But Segar Sampathkumar, Director, Health Insurance, General Insurance Council, is optimistic that wrinkles will be ironed out.
Be mindful of waiting periods and policy terms associated with maternity coverage. Some health insurance policies cover newborns for some time after birth. And it helps if maternity insurance policies cover alternative methods