Health insurance remains one of the most important things to avail in today’s time. A health insurance policy ensures a policyholder to easy access to best of the medical care and treatment, without feeling the money blues. When a medical emergency strikes, you should not be arranging funds, instead stay with your family and pacify them.

Health Insurance Claim from Multiple Policies Made Easy!

Talking about Health Insurance Plans, you can find many service providers offering you multiple benefits with some of them customized to suit your precise needs. It is because of the multiple benefits being offered by multiple policies; many people opt for more than one health insurance policies.

If you have several health insurance policies, you have the right to ask for health insurance claim either for one or both. One of the most vital parts of the health insurance claim process is that your actual hospital expenditures can’t be more than a figure that you can claim from one or two policies.

Health Insurance Claim Process – A Quick View!

Here is some easy-to-follow health insurance claim process that you need to understand before buying health insurance policy.

1)- For a Cashless Claim

In the case of cashless claims, there are two ways that you use multiple health insurance policies. The most popular is the one when a policyholder makes a cashless claim on one insurer, and acquire its settlement records. Once you are through this, getting verified copies of the bills are needed. You are now free to get in touch with the second insurer to ask for a reimbursement of the outstanding money. If you get an itemized bill summary of the hospital expenses, the better as you can fill both authorization forms. Both of the insurance companies will be sent a form each by the hospital. Thus, your insurance companies will review the forms and settle the bills directly with the hospital.

2)- For a Reimbursement Claim

Yes, most of the hospitals and insurance companies are more or less going for a cashless claim as it has become the most popular method of asking claims. Despite being popular, still, there are hospitals where the facility is not yet available. At such places, a policyholder needs to pay the bills from his/her pockets. They can get it reimbursed later by the insurance service provider later. A policyholder will need to submit the original bills depending on which the service provider will compensate the incurred medical expenses. Your insurer may keep the bills for recording purposes, and you should ask either for one more copy from the hospital or get it photocopied.

Additional Reading: 4 Steps To Buy A Health Insurance Policy

Steps to use Two Health Insurance Policies to settle the Bill

Follow the simple steps to know how to make use of both policies for paying the bill. Let’s understand with the help of an example

a) Suppose your hospital bill is Rs.4 lakh and you have two policies

b) Suppose if the coverage of both policies is Rs.3 lakh each

c) You are willing to settle the bill of Rs.4 lakh and yet want to use both policies.

d) Submit the original medical bills to the most preferred insurer out of the two.

e) Mention the amount that you want them to settle with the hospital say Rs.3 lakh.

f) Once the insurer pays Rs.3 lakh, get a settlement copy of the bill and get it photocopied.

g) Get the copies attested by the hospital and submit all along with the claim settlement record to the second insurer.

h) Now your second insurer will settle the remaining Rs.1 lakh with the hospital.

Easy health insurance claim process for multiple health insurance plans is now revealed which will help you ask for various claims.

Author's Bio: 

Arwind Sharma is a financial advisor with an experience of more than 7 years. He has worked for topmost financial firms in India and has been a visiting faculty at many reputed institutes in India. Currently based in Gurgaon, Arwind Sharma is a name to reckon with when it comes to financial management for big brands. A post-graduate in business economics, he is an alumni of Princeton University, USA. During his free time, Arwind teaches children from marginalised sections of society and also work on his blog.