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5 Best Cashless Health Insurance Plans in India 2021 - IIFL Insurance
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5 Best Cashless Health Insurance Policies in India in 2022

Cashless health insurance is not a new-fangled word in the field of health insurance; still, many people have a scant idea about this cashless insurance/cashless mediclaim. Moreover, the markets are crammed with various cashless health insurance policies; thus, people often get confused while choosing the best cashless health insurance policy to protect their health and finances. Let’s discuss the situation with an example.

Ankita (25 years) works in an IT company and lives in Hyderabad with her parents (Father: 61 years and Mother: 55 years). Being a single child, Ankita has some responsibilities towards her parents. The standard of living in Hyderabad is high, and healthcare services are also quite expensive. Ankita wants to purchase a cashless insurance policy for herself and her parents. But she doesn’t have an adequate idea about what cashless mediclaim policy for her family will be suitable for her family because the options are endless.

Moreover, she doesn’t have sound knowledge about various health insurance policies and their advantages and benefits. So, we are going to explain the best cashless medical insurance policies that are ruling in the market. This article will give deeper insights to people like Ankita.

Cashless Health Insurance

5 Best Cashless Health Insurance Plans in India for 2022

Here we listed out the top 5 best cashless health insurance policies in 2022 are mentioned below:-

  1. Bajaj Allianz Health Guard Family Cover
  2. Care Health Insurance Care Plan
  3. HDFC ERGO Optima Restore Health Insurance Plan
  4. Max Bupa Health insurance Plan
  5. ICICI Lombard Health Care Plus

 

1. Bajaj Allianz Health Guard Family Cover

If you are trying to protect your family with a comprehensive cashless insurance policy, then Bajaj Allianz Health guard family cover could be the best cashless medical insurance for your family. Some prime features of this cashless medical policy are,

  • The plan offers a sum assured amount between Rs. 5 lakh to Rs. 50 Lakh.
  • This plan covers pre and post-hospitalization expenses for 60 days and 90 days, respectively.
  • With this plan, you can enjoy the cashless treatment facilities at more than 6,000 empanelled hospitals across India
  • This plan also covers ambulance charges, expenses for all daycare treatments, in-patient hospitalization, advanced treatments, and donor transplantation costs.
  • The policy offers a lifelong renewal option
  • This plan also comes with a co-payment option

 

2. Care Health Insurance Care Plan

Care Health Insurance care plan is another best cashless insurance policy that will provide adequate coverage to your health and finances.

  • You will get a sum assured of up to Rs.75 lakh
  • If you opt for the sum assured amount of Rs. 50 lakh, Rs. 60 lakh, and Rs. 75 lakh, you will get an in-built maternity coverage of up to Rs. 1 lakh
  • If the claim amount surpasses your sum assured, then your sum assured amount will be recharged automatically.
  • For 5 consecutive claim-free years, your sum assured amount can increase 150%
  • For the floater plan, you can cover any of your family members (father, mother, spouse, children, or any friend)
  • You are eligible for cashless treatment at network hospitals (more than 10000 network hospitals)
  • This policy offers annual health check-ups for policyholders and their family members
  • If you are suffering from serious illnesses and you want a second opinion for your treatment, this plan arranges and supports you in this context.
  • This plan covers in-patient hospitalization charges, ambulance expenses (Rs.1500-Rs.3000 per hospitalization), pre (30 days) and post (60days) hospitalization charges, daycare treatment, organ donor treatment (from Rs.50000-Rs.3, 00000) and domiciliary treatment.

 

3. HDFC ERGO Optima Restore Health Insurance Plan

HDFC ERGO Optima Restore is a popular and highly appreciated cashless health insurance policy in India. Some key features of this plan are,

  • This plan is available in two forms (Optima Restore individual and Optima Restore family)
  • This plan restores your sum insured on partial or complete utilization of your health cover for your future needs.
  • With this plan, you are eligible for health check-ups up to Rs. 5,000 at the time of renewals.
  • 50% increase of your basic sum assured for every claim-free year.
  • You will be eligible for cashless treatment at network hospitals (10,000+ network hospitals)
  • With this health plan, you can get a daily allowance of Rs. 800 per day and a maximum of Rs. 6,000 per hospitalization.
  • You are eligible for a discount of 10% if 2 or more family members are covered under Optima Restore individual sum insured plan.
  • This plan offers extended coverage for treatments like neurological disorders, genetic disorders, and injury or illness associated with hazardous activities.
  • This plan covers expenses like in-patient hospitalization, ambulance charges, daycare treatment, organ transplant treatment, domiciliary treatment, and pre-and post-hospitalization costs.

 

4. Max Bupa Health insurance Plan

This is another effective health insurance plan that you can’t shun at any cost. The prime features of this cashless insurance policy are,

  • With this plan, you can avail of cashless facilities for more than 3,500 network hospitals in India Max
  • This cost-effective cashless medical insurance offers coverage for pre and post-hospitalization, room rent charges, domiciliary treatment costs, advanced treatment methods, in-patient hospitalization, and many more.
  • This policy plan comes with renewal benefits, refill benefits, etc.
  • The plan offers options in sum insured for 5 Lakh, 7.5 Lakh, 10 Lakh, and 12.5 Lakh. The policy term is one year. You may choose a 2 year term and enjoy a discount of 12.5% on the second year’s premium. 

 

5. ICICI Lombard Health Care Plus

This popular health insurance policy offers cashless treatment within 4 hours. Some salient features of this policy are,

  • The plan offers a wide range of network hospitals (more than 5025 hospitals) for cashless treatment
  • The policy plan offers flexible sum assured to policyholders
  • The plan offers coverage for pre-and post-hospitalization, room rent, diagnostics charges, doctor’s fees, daycare treatment costs, etc.
  • The enrollment age of the senior-most member should be between 5-65 years.
  • A single policy can cover a maximum of two adults.
  • The age of the proposer should be above 18 years
  • The policy can be renewed until the maximum age of 70 years. 
  • Medical tests are required if the age of an individual proposer is above 56 years

 

Cashless Health Insurance Plans Comparison Chart

Cashless Health Insurance Plans Eligibility Sum Insured Waiting Period Coverage Other Benefits No. of Network Hospitals
Bajaj Allianz Health Guard Family Cover Minimum Age: 18 Years

Maximum Age: 65 Years

Rs. 5 Lakhs to Rs. 50 Lakhs 30 Days, 3 Years for Pre-Existing Diseases Ambulance Charges, Day Car Treatment, Organ Donate Treatment, IPD Expenses, Pre- and Post-Hospitalization Expenses Co-Payment Option,

Lifelong Renewal Option, Tax Benefits

More than 6,000 empanelled hospitals across India
Care Health Insurance Care Plan Minimum Age: 5 Years

Maximum Age: 18 Years

Rs. 3 Lakhs to Rs. 6 Crores 30 Days, 2 Years for Pre-Existing Diseases, 9 to 24 Months for Maternity Cover IPD Expenses, Pre- and Post-Hospitalization Expenses, Organ Donor Expenses, Domiciliary Treatment, Day Care Treatments Daily Allowance of up to Rs. 500 per day for 5 Days,

Tax Benefits

More than 10,000 network hospitals
HDFC ERGO Optima Restore Health Insurance Plan Minimum Age: 91 Days

Maximum Age: 65 Years

Rs. 3 Lakhs to Rs. 50 Lakhs 30 Days (Except Accident), 36 Months for Pre-Existing Diseases Domiciliary Treatment, Pre- and Post-Hospitalization, Organ Transplant Treatment, Ambulance Expenses, Day Care Treatment Restore Benefits, Multiplier Benefit, No Claim Bonus of 50% Increase of Basic Sum Insured, Preventive Health Check-Up, Stay Active Benefit, Tax Benefits More than 10,000 network hospitals
Niva Bupa/ Max Bupa Health Insurance Plan Minimum Age: 18 Years

Maximum Age: 65 Years

Rs. 3 Lakhs to Rs. 1 Crore 30 Days

And 48 Months for Pre-Existing Diseases

Pre- and Post-Hospitalization Expenses, COVID-19 Cover, Domiciliary Treatment, AYUSH Treatment, Organ Donor Treatment, Maternity Cover Lifelong Renewal Benefit, No Co-Pay Clause, Critical Illness Cover, Tax Benefits More than 3,500 network hospitals
ICICI Lombard Health Care Plus Minimum Age: 5 Years

Maximum Age: 65 Years

Flexible Sum Insured Options 30 Days and 2 Years for Pre-Existing Diseases OPD Expenses, No Claim Bonus, Pre- and Post-Hospitalization Expenses, Ambulance Coverage, Day Care Treatments, AYUSH Treatment, Donor Expenses, Maternity Cover Free Annual Health Check-up, No Room Rent Capping, Wellness Program, Tax Benefits More than 5,025 network hospitals

Buy Cashless Health Insurance

These are the 5 best cashless health insurance policies in 2022. After going through all the details of the terms and conditions, you should prudently choose the best health insurance policy to enjoy a cashless facility.

Cashless Health Insurance Plans FAQs

Why Buy Cashless Health Insurance Plans?

Cashless health insurance plan comes handy in case of an emergency hospitalization, as it saves you from the hassles of arranging for monetary funds at the time of admission. You can get the best treatment in a care-free manner because the treatment expenses will be paid directly by the insurer.

What is covered under Cashless Health Insurance Plans?

The best cashless health insurance plans offer coverage for pre- and post-hospitalization expenses, ambulance expenses, domiciliary treatment, day care treatment, OPD expenses, and organ donor expenses.

What is not covered under Cashless Health Insurance Plans?

General exclusions under a cashless health insurance plan include cosmetic surgery, beauty treatments, hospitalization due to drug addiction or off-label drug usage, self-imposed injury expenses.

Which is better cashless hospitalization or reimbursement claim process?

Cashless claim process is much better than reimbursement claim process for the sake of convenience. You will be in a better position to handle your medical issues with a cashless health insurance plan without worrying to spend a penny from your pocket. Whereas, in reimbursement claim procedure, there are chances of getting rejection from the insurer.

How to Avail a Cashless Health Insurance Plan?

You need to inform the insurance company by submitting the pre-authorization form at the hospital’s insurance deck. Make sure to inform the insurer about the hospitalization at least 48 hours before the hospitalization and within 24 hours in case of an emergency.

Which is the Best Cashless Mediclaim Policy in India?

Various insurance companies are offering cashless Mediclaim policies in India. Make sure to check the list of network hospitals before buying a cashless health policy. Choose one that has a wide network of hospitals providing cashless treatments.

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