Non-life/Health Insurers Launch Cashless Everywhere

Mumbai: Health insurance policyholders will now have access to cashless hospitalisation in around 40,000 hospitals across the country. The General Insurance Council, in consultation with all the general and health insurance Companies on Wednesday launched the “Cashless Everywhere” initiative.

Under Cashless Everywhere, the policyholder can get treated in any hospital they choose, and a cashless facility will be available even if such a hospital is not in the network of the Insurance FC was the first to report about the initiative on January 10.

The Cashless Everywhere initiative is subject to: For elective procedures, the customer should intimate the Insurance Company at least 48 hours prior to the admission. For emergency treatment, the customer should intimate the Insurance Company within 48 hours of admission. The claim should be admissible as per the terms of the policy.

About 63 per cent of customers opt for cashless claims while the others have to apply for reimbursement claims as they might be admitted to hospitals that are outside their Insurer/TPA network.

"We also see this as a step towards reducing and in the long run, eliminating fraud, which has been plaguing the industry in a big way and reducing trust in the system. Overall, it’s a win-win for all the stakeholders," said Tapan Singhel MD and CEO Bajaj Allianz General Insurance.