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Cashless treatment: Insurance sector regulator IRDAI has taken a big decision to make health insurance easier. Giving a big relief to the customers, IRDA has directed insurance companies to decide on cashless treatment within 1 hour. Also, insurance companies will have to decide on approval within 3 hours of receiving the discharge request.
IRDA on Wednesday launched health insurance Policy Many big changes have been made regarding. They have withdrawn their 55 circulars and issued a master circular. It brings all the rules in one place. The biggest change in this has been made regarding the claim process. According to the master circular, under no circumstances should the policyholder wait in the hospital for discharge. Companies will have to give approval within 3 hours. If there is a delay beyond this, the insurance company will have to pay additional cost.
In case of death the paperwork should be completed as soon as possible
If the policyholder dies, the insurance company has to complete the paperwork and settle the claim as soon as possible so that the family can get the body immediately. To achieve the target of 100 percent cashless settlement of claims, all companies should act as soon as possible. In case of emergency, they have to decide on approval within an hour. IRDA has set a deadline of 31 July 2024 for insurance companies to comply with these norms. Insurance companies will also have to set up help desks within hospitals.
Non-claim policyholders will get the offer
IRDA has directed all companies to launch health insurance products with all the facilities. Insurance companies will also have to provide a customer information sheet along with the policy. If there are multiple policies, the customer will have the freedom to choose. Policyholders who do not make a claim will have to be given an offer. Those who terminate the policy midway will have to return the money to the company.