In a world where health is extremely important, taking care of one’s family is a top priority. Life can be unpredictable, and thus having good healthcare becomes even more crucial.
Moreover, according to a recent study by the World Health Organization, healthcare expenses are a major cause of financial hardship for millions of families worldwide. This gives rise to the need for a family health insurance plan. But how can these plans help? What are they?
Read this article to get a basic understanding of the family floater health insurance plans.
What is a Family Floater Plan?
A family floater plan is a type of health insurance that covers an entire family under a single policy. With this plan, the family members, like parents, spouses, and children, can all avail of medical benefits together.
Instead of having individual policies for each family member, a family floater policy pools the coverage, and any family member can use the total sum insured when they need medical treatment. When any member falls sick, the insurance company pays for their medical expenses, subject to the terms and conditions of the policy.
What are the Features of the Family Floater Plan?
A family floater insurance offers several features. Some of them are
1. Global Coverage
Family floater plans offer international coverage, ensuring individuals’ family members are protected even when they travel abroad and need medical assistance.
2. Online Consultation Services
The insurers provide access to telemedicine or online doctor consultation services. This allows them to seek medical advice remotely without visiting a hospital or clinic.
3. Free Health Tips and Wellness Programs
These insurance offer health and wellness programs and discounts on health-related services to promote a healthier lifestyle for the insured family.
4. Emergency Assistance Services
Such insurance provides access to emergency assistance services, such as arranging for an ambulance or medical evacuation during critical situations.
What are the Benefits of a Family Floater Plan?
A family floater plan offers various benefits. Some of them are:
1. Flexibility to add New Members
Family floater health insurance is flexible and allows the addition of new family members, like newborns or newly married spouses, during the policy period.
2. No-claim Bonus (NCB)
Many insurance providers offer a no-claim bonus. This means if you do not make any claims during a policy year, the sum insured may increase for the following year without additional cost.
3. Cashless Hospitalisation
With a family floater health insurance, you can avail of a cashless hospitalisation facility at network hospitals. This means the insurance company directly settles the medical bills with the hospital, relieving you of the financial burden during an emergency.
4. Renewal Incentives
A family floater mediclaim policy may offer renewal incentives. Thus, if policyholders have made no claims during the policy year, they may be eligible for discounts or additional benefits during policy renewal.
How to File a Claim Under Family Floater Plan?
You can file a claim under the family floater plan by following these steps:
Step 1: Gather Documents
Collect all the necessary documents, such as medical bills, prescriptions, diagnostic reports, discharge summaries, and insurance policy details.
Step 2: Inform the Insurance Company
Notify your insurance provider about the medical treatment and hospitalisation within the specified time frame mentioned in your policy.
Step 3: Pre-Authorisation
If required, seek pre-authorisation from the insurance company before undergoing any planned hospitalisation or surgery. This step helps avoid claim rejection.
Step 4: Hospitalisation
Get the patient admitted to a network hospital (if applicable) or any other recognised medical facility. Remember, non-network hospital claims may require more documentation.
Step 5: Settle the Bills
Pay the medical bills upfront after discharge. Keep all the original receipts, as you’ll need them for claim reimbursement.
Step 6: Claim Form submission
Obtain the claim form from your insurer’s website or office. Fill it accurately with essential details about the patient, treatment, and expenses incurred.
Step 7: Attach Documents
Attach all the relevant documents to support your claims, such as bills, reports, and policy-related papers. Double-check that everything is complete.
Step 8: Submit the Claim
Submit the filled claim form and supporting documents to your insurance company immediately. Many insurers offer online claim submission, which makes the process quicker.
Step 9: Follow-up
Stay in touch with the insurance company for updates on your claim. If there are any discrepancies or additional information required, provide it promptly.
Step 10: Claim settlement
Once the insurer verifies the claim, they will process it for reimbursement or direct payment to the hospital, as per your policy terms.
Conclusion
The family floater plan emerges as a compelling and comprehensive solution for ensuring the health and well-being of an entire family under one umbrella. It allows families to focus on cherishing precious moments together without the burden of healthcare expenses weighing them down.
For those seeking a reliable and trustworthy family floater plan, look no further than Niva Bupa is the best health insurance company in India . With their commitment to delivering exceptional healthcare solutions and their extensive network of healthcare providers, Niva Bupa can provide you with the perfect coverage tailored to your family’s unique requirements.
