Insurance Awareness - Health Insurance
Which of the following best describes a 'Cashless Claim' in health insurance?
Which of the following best describes a 'Cashless Claim' in health insurance?
medium Q5 of Q15
Step-by-Step Solution
Step 1: Define cashless claim
Cashless claim means the insurer settles the hospital bills directly with the network hospital after prior approval.Step 2: Eliminate incorrect options
"Insured pays hospital bills and claims reimbursement later" and "Insured receives cash from insurer before hospitalization" describe reimbursement or advance payment, and "Insurer pays claim amount after 60 days of hospitalization" is unrelated to cashless claims.Final Answer:
Insurer directly settles the hospital bills at network hospitals after prior approval → Option BQuick Check:
Cashless facility reduces financial burden on insured at hospitalization.
Quick Trick: Cashless = insurer pays hospital directly after approval.
Common Mistakes:
MISTAKES- Confusing cashless with reimbursement claims.
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