The Growing Trend of Dual Health Insurance Coverage
Health insurance is provided by many employers as part of today’s compensation it is typically offered for free or very low cost. In addition, most individuals will also buy another health insurance policies on their own to provide more indemnity. The problem is however, that hardly anybody knows they are able to get benefits from both policies at the time of a medical emergency which gives people double benefit and minimize out-of-pocket expense. Piling on two health insurance plans, you will end up with saving thousands by knowing how to claim . So here is our simple yet practical example to comprehend this proces.
How Dual Claims Work: A Real-Life Medical Expense Scenario
Consider a person paying for the treatment of 6 Lakhs ₹ Their insurance from company:: Rs3 Lakhs Persion al insurance:: Rs5 Lakhs So how do they claim from both? Order and the process of claims in which they have to be aware of, to actually be fully reimbursed.
Start with the Insurance Covering the Smaller Amount
Step one and the most important, alert the insurance company that has primary as to which policy will pay the lesser amount of that double bill. Letting them know in advance allows you to trigger the claim under first policy. Usually, if applicable present you should be getting cashless treatment approval from this insurer.
Approach Your Second Insurer with Complete Documents
Following on the receipt of the first insurers’ initial payment or settlement for your claim then you have to go to your second insurer with full details of the remaining medical expenses you have had to self-fund. Having all the appropriate documentation like bills from hiring doctors, discharge summaries and KYC documents triggering the claim with them,
Patience is Key During Verification and Processing
Secondly, you may have to wait for the second insurer to investigate and approve your claim documents. That means, during this period you might be paying the out-of-pocket for any outstanding medical costs that will be reimbursed later.
Airtel Launches Free AI-Powered Scam Protection for Users: Blocks Fraud Calls, SMS and Links
Submit the First Insurer’s Settlement Letter to the Second
As soon as the first insurer sends a settlement letter with the paid amount make your way to sending the same to the remaining second insurance company. This letter is important since it shows how much the first one paid to avoid double dip claims.
iPhone 16 Pro Max Discount Storm: Save Big Before It’s Gone!
Final Reimbursement: Getting the Remaining Amount
After thorough validation, the another insurer will clear the remaining amount of claim to your account. The process can take quite a while, but if you follow these steps methodically you will fully realize the potential of your dual health insurance policies.
9617 Constable Jobs: Rajasthan Police Drops Shocking Deadline!
Double Insurance Means Double Financial Protection
Dual health insurance policies can prove to be the financial lifesaver in critical medical exigencies. If you know how to get the right claim and are meticulous with documentation, you can use both policies to run your health bills without any second thought. Which is much better for your wallet and allows healthcare costs to be more within reach. In that case, if you have two health insurances go for both if possible; in order words take maximum cover.