No more out-of-pocket expenses: The impact of 'Cashless Everywhere' on health insurance
48.2%of total health expenditure, according to a recent report. This highlights a glaring gap in healthcare coverage and the urgent need for robust health insurance policies.
How health insurances come into the picture
Health insurance provides financial protection against unexpected medical expenses, ensuring that individuals and their families can access quality healthcare without worrying about the costs.
However, a typical health insurance policy’s limitation when it comes to hospital networks, can become problematic.
This situation may not only cause temporary financial strain but also add stress during an already challenging time.
Additionally, the reimbursement process can be cumbersome, involving lengthy paperwork and delays, further complicating matters and hindering timely access to medical care.
This underscores the necessity of initiatives which allow policyholders to receive cashless treatment at any hospital of their choice, regardless of network status, to ensure timely access to medical care without the added stress of managing expenses.
Recognising this need, the General Insurance Council (GIC) has recently announced the 'Cashless Everywhere' initiative in collaboration with various insurance companies, including Bajaj Allianz General Insurance Company.
The initiative will allow policyholders to receive cashless treatment at any hospital of their choice, even if it's not in the insurance company's network.
