Health insurance is the most definitive way to get financial protection against medical emergencies. If you get hospitalised for any reason, the policy will pay the expenses and help you get good quality medical care. Read on to know about the claim process from multiple insurance policies.

Most people in India believe that they can purchase only one health insurance plan. But the truth is that you can purchase as many insurance policies as you want. You can buy multiple policies either from the same insurance company or from different insurers. While purchasing multiple policies is a good way to get medical coverage for you and your family members, you must also know how to file for a claim correctly to get the compensation.

You cannot get compensation from multiple insurers for the same expenses. But if the sum insured of one of the policies is insufficient to meet the expenses, you can use the other policy to cover the remaining amount. When you purchase a healthinsurance policy, the application form will have a section where you must furnish details of your other existing health insurance policy. If you fail to disclose this information, it will be considered as a violation of the policy terms.

Important steps to follow while you file a claim with multiple health insurance policies

  • First and foremost, you must inform both the insurance companies about hospitalisation. You must intimate the companies within the prescribed time limit, post which, your claim will be considered void.
  • You must decide on one company where you want to file for a claim first. Make sure that you follow the claim application process correctly to avoid rejection.
  • Along with the claim form attach all the necessary documents and bills to validate your claim.
  • When the first insurance company settles the bills, they will issue a claim settlement letter, which states that they received the documents and that the claim is settled.
  • Make sure that you get attested copies of the bills from the hospital. Repeat the process of filing a claim along with documents and the claim settlement summary from the first insurance company.
  • The insurance company will settle the bill within seven working days if you have followed the process correctly and have submitted all the documents.

How the cashless claim and reimbursement claim process works?

If you have opted for a cashless claim, you must submit the claim settlement form with the first insurance company and get a settlement summary from them. After you get the summary details, ask the hospital official to provide attested copies of the bills. Submit the bills and the settlement summary document to the second insurer to cover the balance amount. Also, you must ask the hospital official to give you a detailed bill that mentions the cost for every treatment you have received and fill the authorisation form. The hospital will then submit this form to other insurance companies for balance amount settlement.

If your insurance company does not offer cashless facility or if you were hospitalised at the hospital that was not a part of the insurer’s network, you must pay the bill initially, and then file a claim for reimbursement. To get the compensation, you must submit copies of the bills to the insurance company, after verifying the bills, the insurer will then issue a letter of the settlement. If your first insurance does not offer full coverage for the expenses incurred, you can submit the letter of settlement to the second insurer along with copies of the bills and get reimbursement for the balance amount.

With the cost of medical care in India rising at a rapid pace, buying more than one health insurance policy is the most practical thing to do to get complete financial protection against medical expenses.