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Health Insurance claim settlement ratio is used to determine the company’s ability of settling claims against the number of requested claims in a financial year.. Every year the Insurance Regulatory and Development Authority of India (IRDAI) publishes the claim settlement ratio of every health insurance company in its annual report.Â
Evaluating the claim settlement ratio before buying a health insurance plan is a good idea as it reflects the efficiency, reliability, and financial health of an insurer.
In this article, we will tell you everything about the claim settlement ratio of Care Health Insurance.
The claim Settlement Ratio of a company refers to the claims settled by a company against the total claims filed during that financial year. For example, if the company settled 90 claims out of 100, the the CSR of the company would be 90%.
The simple formula of calculating the CSR isÂ
(Total Claims Settled)/(Total Reported Claims + Outstanding Claims at the beginning of Year-Outstanding Claims at the End of Year).
As per the IRDAI Annual Report of 2021-22. The Claim Settlement Ratio of Care Health is 100%. The company claims to settle the cashless claims within the time frame of 2 hrs. Until now, the company has settled up to 25 Lakhs+ claims. The figure shocases that the company understands the importance of quick claim settlement and ensures to support you at the time of medical-financial need.
Care Health Insurance promises a wide Network of cashless Hospitals across India. A well connected network of over 20800+ cashless hospitals, Care Health Insurance ensures that you are medically secured, irrespective of the city you reside in
Care Health Insurance works in a very transparent and systematic manner to clear claims. Following is the clain settlemet process of Care Health Insurance.Â
Case 1:Â Cashless Claim Procedure
Note: If the cashless claim is rejected, the insured member can initiate the treatment and file for a reimbursement claim after discharge.
Case 2: Reimbursement Claim Procedure
Care health insurance offers a total of 13 health insurance plans. Check below to know more about the other care health insurance plans offered by the company.
A comprehensive family floater plan that decides your policy premium based on the living cost of the city you reside in.
Unique Benefits
Comprehensive health plan for people above 60 to make their second inning stress-free from health-related financial worries.
Unique Benefits
Get medical coverage for pre-existing diseases like BP, diabetes without any waiting period by bearing a co-pay of 20-30%.
Unique Benefits
A super top-up health insurance plan to provide extra medical cover on the basis of policy deductible principle.
Unique Benefits
A maternity health insurance plan with child cover. This plan protects individuals and families during medical emergencies.
Unique Benefits
Enjoy the advantage of 1 crore cover and multiple benefits at lower monthly premiums with this affordable individual & family floater plan.
Unique Benefits
A standard comprehensive plan mandated by IRDAI that offers coverage for both Ayurvedic or Allopathic treatments.
Unique Benefits
Offers lifelong coverage against cancer and the cost of its treatment with several other benefits.
Unique Benefits
Offers coverage against 32 critical illnesses that are pre-defined under the policy such as catastrophic burns, coma, etc.
Unique Benefits
A comprehensive plan that takes care of your medical needs in your late 40s.
Unique Features
Individuals with pre-existing cardiac diseases can get coverage against medical treatments by paying 20-30% of co-payment for every claim.
Unique Benefits
A flexible health plan that covers advanced technology methods, unlimited e-consultations and personal accidents.
Unique Benefits
A unique healthcare plan offering extensive coverage to individuals and families under a single plan with affordable premiums.
Unique Features
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Mahesh Malvesh
Delhi
September 14, 2022
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Vidyut Sharma
Delhi
May 25, 2022
I am in love with the facilities Religare Health Insurance offers. It is one of the best health insurance companies available in the market at the moment. I would definitely recommend this to e...
Niyati
Rajkot
February 17, 2022
I am using their health insurance and used it for COVID19 treatment. I am so happy that covid treatment was handled by them. due to lockdown, i was facing money-related problems but their cashl...
Ram Dulari
Dehradun
August 16, 2021
Very nice company. I am very happy and fully satisfied with its services. God bless us all. 5 star to the whole team... WELL-DONE
Nayan
Guwahati
August 16, 2021
Religare Health Insurance is a nice company. and the way PolicyX.com helps its customers in understanding the process is commendable. I am very much impressed.
Manish Singhal
Ahmedabad
August 6, 2021
PolicyX helps me to find the best suitable plan for me and my family. They have a very professional salesperson and also I am very much happy with the service of Religare Health.
Sapna Khurana
Pune
August 6, 2021
One of the best health insurance company I have ever come across. Thank you PolicyX.com for assisting me at every step. I must say the team of PolicyX is very patient and hard-working. Thanks o...
Raj Kumar
Chandigarh
August 6, 2021
Received my reimbursement claim amount within a span of 8 days. Thank you POlicyX.com for helping me out in choosing such a great company. Keep up the good work Religare
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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