5 Things to Know Regarding Reimbursement Claims in Mediclaim

Most insurance companies aim to make their claim settlement process smooth and easy.  But there is a particular procedure that has to be followed. Hence, it needs a policyholder to be transparent as well as patient with the insurer while raising a reimbursement claim.

5 Things to know about Reimbursement Claims in Mediclaim

1. Understand the Reimbursement Claim Process

If you go by the dictionary meaning, Reimbursement means a compensation that is paid by someone for expenses already done. Under the health insurance policy, reimbursement claims implies that the insured clears all the hospital bills on their own first and later can raise claim for compensation from the insurer by filing the health insurance claim letter for reimbursement.

2. You need to take initiative

We know that in the case of a cashless health insurance claim process the hospital bill is directly settled by the insurance company. However, in case of reimbursement claim, the policyholder has to make the effort to raise the claim from the insurer. So, the insured has to arrange for documents, fill application forms, do follow ups, etc.

3. Arranging for documents

Under the reimbursement claim process, the policyholder is required to arrange all the bills received from the hospital and other important documents on their own to raise the claim process. There might also be a Third-Party Administrator (TPA) who would assist in document submission. However, it depends on the claim settlement policy of the insurance company.

4. Intense Examination

Another point to note in reimbursement claims is that each claim of reimbursement goes through great scrutiny done by the TPA or the insurer. Since, reimbursement claim is not cashless, such detailed verification becomes necessary for the insurer.

5. Process takes time

A reimbursement claim process goes through all the above-mentioned steps and procedures; hence it is more time consuming than the cashless claim. And that is the reason why one has to be very patient while applying for such claims and must cooperate with the concerned authority throughout the process.

Always go for a Credible Insurer

This is the most essential part of buying a health insurance policy. To select a reliable insurer requires one to be judicious so that the person can make a better buying decision. If you are looking for a smooth process of claim settlement, you must buy the health insurance policy from a trustworthy insurer with a good CSR or Claim Settlement Ratio.

Further, if you have trouble or unsatisfactory experience of claim settlement with your insurer, you can avail the facility of portability and switch insurer at the time of policy renewal. While looking for a good insurer, always consider the CSR of the company. Also, check customer reviews online to know if the particular insurer is credible. Try to research and be educated about the insurer by visiting the official portal of the company before buying the plan.

You may also compare policies to check their price differences by using the health insurance premium calculator. The health insurance premium calculator is a simple online tool where you have to submit some data to see the premium charged for a particular health plan. This way, you can look for different combinations to seek the desired premium and to make a decisive decision.