It is common knowledge that Group Health Insurance provides financial backup when your employees get hospitalised. They don't have to pay the entire hospital bill and still benefit from availing of treatment in a good hospital. However, prolonged hospitalisation can also result in additional non-medical costs such as daily travel, food, medicines, etc. and even loss of income. However, with ACKO’s Group Health Insurance Policy, your employees don’t need to worry about these extra costs. ACKO Group Health Insurance provides your employees daily cash for a fixed number of days during hospitalisation. This feature is called Daily Hospital Cash Benefit or Hospicash add-on cover.
If you chose ACKO to cover your employee’s health insurance needs, be assured that your employees are in safe hands. ACKO Group Health Insurance Policies focus both on their convenience and financial needs during a medical emergency.
Under ACKO Group Health Insurance, your employees are eligible to get a fixed sum of money to take care of their additional needs during hospitalisation, provided they choose to buy this optional add-on cover at an additional cost.
The money received under the Hospicash benefit can be used for medicine, food, etc. It can be helpful to the hospitalised patient (policyholder) and the family members.
It is an optional cover that offers a pre-decided amount for a specified number of days. For example, Rs. 2,000/day for 15 days of hospitalisation. Your employees are free to use the amount as they deem fit.
This add-on cover can be customised as per your and your employee’s requirements.
Your employees will receive a daily cash benefit of a certain amount (usually about Rs. 2,000 to Rs. 3,000) for a pre-decided number of days (usually about 10 to 20 days) the insured member spends in the hospital.
This add-on cover mainly covers the employee, their spouse, and children. However, usually, parents/parent-in-law are not covered under this add-on cover.
The insurance company also reserves the right to disallow the hospital cash benefit for a particular reason. The most common reason being non-approval of the claim application. Consequently, the cash benefit will not be allowed as it was dependent on the claim being approved. Here are a few more examples of Daily Hospital Cash exclusions:
Treatment for pre-existing diseases are not included
Maternity-related expenses are also excluded.
The cost of diagnostic tests before getting hospitalised is not covered.
Hospitalisation for less than 24 hours is not considered.
Your employees will receive the following benefits for being insured under the ACKO Group Health Insurance policy.
With ACKO Group Health Insurance, your employees can raise claims online, which are very convenient. Your employees don't have to arrange bills or other physical documents and courier them to the insurance company. Instead, they can scan the copies of the required documents and upload them on the portal or ACKO’s mobile app. This greatly reduces the time taken for overall claim settlement.
ACKO has partnered with more than 6,300 hospitals across various specialities in the country. This makes it easy for your employees to avail themselves of cashless benefits. A cashless claim is where the insured person has to bear a small part of the hospital bill (copay, deductibles, etc.), and the insurance company will take care of the major part.
Health insurance policies have waiting periods on pre-existing diseases, maternity expenses, etc. But with ACKO's Group Health Insurance Policy, we will cover the treatment for pre-existing diseases or maternity expenses from day one.
Hospital Cash Insurance is a feature in a Health Insurance Policy that allows the policyholder to avail of a cash benefit during hospitalisation. This cash can come in handy when the patient is hospitalised. There is no restriction on how this benefit should be used.
The policyholders or their family members can use it to buy medicines, meet travel expenses, or carry out the required medical tests that are not covered directly under the base policy.
The following set of documents are usually required to claim the cash benefit.
1. Hospitalisation Bill
2. Discharge Summary
3. Health insurance policy
4. Medicine bills
5. Test Reports
6. Address proof
7. Identity Proof
Here are the steps your employees can follow to raise a claim against ACKO Group Health Insurance Policy through the mobile app.
Open the app and log in with the registered mobile number through the OTP.
Tap on "Corporate Health Policy"
Tap on "File Claim," and they will be redirected to the type of claim they want to raise.
If they are admitted to a network hospital, they can consider opting for a "Cashless claim" else click on "Claim reimbursement".
Fill in the required details and click on "Submit". And that’s it; the claim will be raised!
The daily hospital cash benefit is available for a fixed number of days, i.e., up to 15 days. Again, this can be customised as per your requirements. If the period of hospitalisation is less than the number specified in the policy, you will receive the cash benefit for the entire duration of hospitalisation.
The below-mentioned conditions need to be fulfilled to claim the Hospicash Benefit.
ACKO will pay the Hospicash benefit only if the claim for hospitalisation is approved.
The cash benefit will be paid for not more than 15 days of hospitalisation, or as mentioned in the policy document.
The period of hospitalisation should be more than 24 hours.
The claim for Hospicash benefit is not admissible for pre-existing conditions or maternity expenses.
Under the ACKO Group Health Insurance Plan, the employee needs to buy the Hospicash add-on separately at additional costs. Otherwise, it depends upon the terms and conditions of the insurance company. Some insurers include this benefit in their base plan, while others offer it as additional coverage that is optional to buy.
The Hospicash add-on is helpful because it provides convenience while the patient is admitted and reduces out-of-pocket expenses.
Usually, daycare procedures are not allowed under the Hospital Cash Benefit.
No, the cash benefit will be provided for a fixed number of days, as mentioned in the policy document. There could also be a cap on the number of days for the cash benefit per hospitalisation during the policy period.
Yes, if the insurance company offers this benefit, the policyholder can avail of this benefit on their health insurance policy, irrespective of its type.