Health Insurance: IRDAI Issues New Guidelines For Cashless Claim Settlement

Health Insurance Rules: You must have heard about Cashless Claim Settlement while taking insurance, as nowadays most companies give the benefit of cashless claim treatment to policyholders in their policy. However, many times, many cases have come up where patients had to pay for the bill themselves despite the cashless treatment, or insurance companies take a lot of time to sign hospital bills, leading to delay in the discharge process.

New Guidelines on Health Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) has changed the name of the cashless claim settlement and has reduced the time limit of the settlement. The IRDAI has ordered all insurance companies to approve the cashless treatment within an hour and give final approval within 3 hours for claim settlement. If they fail to do so, the insurance companies will have to pay the extra charge imposed by the hospital itself.