No more waiting for cashless treatment; major change in health insurance rules within 1 hour of approval!

There has been a big development in the health insurance sector. This change has come in the way of consumers. By Insurance Regulatory and Development Authority ((IRDAI) Insurance companies have suffered a setback. This is being considered a big setback on the arbitrariness of insurance companies. IRDA has issued a circular regarding health insurance. If a patient or his relative sends a request for cashless treatment in the hospital, it has been directed that insurance companies will approve it in just one hour. This new change will provide great relief to the customers.

Insurance companies will settle claims within 3 hours

Insurance regulator IRDAI made several changes in one go. This circular is a boon for consumers. There has been a major change in a rule regarding claims. Now after treating the patient, the hospital will inform the insurance company while discharging him. The insurance company will have to settle the claim within the next three hours.

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The customer will get great benefit

  1. For cashless treatment, the insurance company will have to approve the request in just 1 hour. So that the patient's treatment can be started quickly. This will save the patient's family from running around to raise a large amount for the initial treatment.
  2. Insurance companies have to settle claims within the next three hours after treatment. This will reduce the fever given to patients and relatives to collect money from the hospital. So that the patient can go home as soon as possible.

All previous circulars are archived

IRDA has solved some of the problems of patients in one go. All the previous circulars have become history with this main circular. A total of 55 previous circulars are now meaningless. A comprehensive master circular of all these has now been implemented by IRDA. Insurance companies are being forced to give more and better facilities to the customers. Their arbitrariness has been greatly affected.

hide and seek

  • Insurance companies will now have to provide detailed information about each customer's insurance policy. It is mandatory to provide the policy, its name, its category, the sum insured, detailed information regarding the insurance cover, information about other things not covered, information about the waiting period in a simple manner.
  • More efficient use of technology has been advocated. Insurance companies should fill all the information onboard. All relevant documents should be collected. In this circular, it is expected that they should emphasize on paperless work.
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