Claiming Insurance from Two Policies - What You Need to Know?

In order to avail of the best healthcare facilities in times of illness, it is important to invest in a health insurance plan It will provide a cover for the expenses incurred for the medical treatment and will give you peace of mind in case of an illness or an accident. Individuals have the liberty to invest in multiple insurance policies and they can choose when to use which policy. If you have two health insurance policies, you have the right to decide whether you want to make a claim on one policy or both. You need to keep in mind that the actual expenses incurred for the treatment cannot be more than the amount claimed from the policy or multiple policies.

Process Of Claiming Two Health Insurance Policies

If you have invested in two health insurance plans, here is how you can make your claim.

Cashless Claim

For a cashless claim, the health insurance plancan be used in two different ways. The first method is to make a cashless claim on one insurer and obtain the summary of claim settlement. After this is done, you will have to get the bills attested and then you can approach the second insurance company to request for a reimbursement of the balance amount. If you have a clearly laid out cost of treatment, you may fill both the authorization forms. The hospital will then send a form to both the companies and based on the same, the bills will be settled accordingly and paid to the hospital.

Reimbursement Claim

Although the cashless mode is highly prevalent these days, there are many hospitals, which do not accept the cashless facility. In such cases, you will be required to pay the bill from your pocket and the insurance company will reimburse it later. You only have to submit the original bills, through which the insurance company will reimburse the expenses incurred.

You can also use multiple policies to make the bill payments. If you have two policies from two different companies, you can make the bill payment using both but you will need to submit all the original bills and documents to the insurer. For example, if the hospital bill is INR 4 lakh and you have two insurance covers with a sum insured of INR 2.5 lakh, you can make the health insurance claim of INR 4 lakh by using both the policies. Submit the documents to the preferred insurers and state the amount you wish to receive. After the insurer pays INR 2.5 lakh, you can ask for the claim settlement summary and get the copies of the bills. Get them attested with the hospital and submit it to another insurance company for the remaining amount.

The procedure for a health insurance claim is simple and only requires you to submit the necessary documents to the multiple insurance companies. However, you need to ensure that the amount claimed by you is within the limits of the amount insured in the insurance policy and does not exceed the actual amount of expenses incurred by you. It has become easier to purchase a health insurance without having to leave the house. You can search for products online, compare them, and make your decision. You can purchase an online health insurance within no time