Many people practise this unique method to cover their medical expenses, they buy health insurance policies from different companies. The benefits of doing this and the reason for them to do it, is they get additional converge benefits over the benefits offered by their employer. Another case can be that you have an old policy and need higher coverage, so you bought a new policy. And one more scenario for buying two different health insurance policies is that one covers your parents and the other covers your children and spouse.
How To Make Multiple Health Insurance Policy Claims?
“In 2013, the Insurance Regulatory and Development Authority (IRDA) made some changes to the regulations. Before these modifications, every health insurance plan included a contribution clause. In the case of a claim, each insurer will contribute an amount equivalent to the ratio of the sum assured,” mentioned hdfcergo.
This revision has made the claiming process easier and more reliable. You should know that the contribution clause is not applicable when the sum assured is more than the claim amount. On the other hand, when the claim amount is greater than the sum assured the contribution clause becomes applicable.
In Case of Cashless Claims
“For such claims, you make the claim for one insurance company and procure the settlement summary. On completion, you will need attested copies of all the bills. You may then approach the second company for claiming reimbursement of the balance amount.”
Claims In Case of Reimbursements
In the case of Reimbursement claims, you will have to follow a complex process as compared to cashless claims, which are more convenient because the company pays directly to the hospital. But in hospitals, you will need to pay first and then apply for Reimbursement from the company. Along with the claim form you will need to submit all the case-related documents.
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Documents Required To Make Claims
“When you make claims under multiple MEDICAL INSURANCE POLICIES, you must intimate all the different companies at the time of hospitalization. After this, you may choose the company where you wish to make the first claim. Here is the list of original documents that must be attached with the claims form.”
- Bills, receipts
- Discharge form
- Diagnostic tests