Health Insurance

Reimbursement Claims with Medi Assist – New India Mediclaim

  • Tuesday, May 1, 2012   Posted by Sowmya S

Health Insurance provides for timely medical care and reduces your financial burden in times of acute needs. As a Third Party Administrator of health insurance policies, Medi Assist provides Cashless Hospitalization facility at the Medi Assist network of hospitals. But situations like the ones listed below might as well occur:

  1. Hospitalization at a non-network hospital
  2. You wish to claim Post-hospitalization and pre-hospitalization expenses
  3. Denial of preauthorization on application for cashless facility at a network hospital

 

Under such circumstances, you can still claim your medical expenses through Medi Assist after the treatment. This is called Reimbursement.

Notice of Claim

Upon the happening of any event which may give rise to a claim under the health insurance policy,

  • Claim intimation – a notice of claim with full particulars of the hospitalization has to be sent to the Insurance Company/TPA within 7 days from the date of admission. Once the treatment is complete, the claim has to be filed within the policy specified duration from the date of discharge. The notice of claim and filing of claim apply especially to reimbursement claims.
  • Claim documents should be submitted within 30 days from the date of discharge from hospital.

Claim related forms

How to communicate with Medi Assist

  • Claim intimation can be registered through the Medi Assist TPA Call Centre / mail to callcentre@mediassistindia.com / through the Medi Assist TPA website (mention the intimation number and date in the claim form while submitting the claim documents)
  • Reimbursement claims can be submitted to Medi Assist through registered post / courier or can be handed over at any of Medi Assist Branches.

Medi Assist - New India Mediclaim

Documents required to be submitted

For a hospitalization reimbursement claim:

  1. Original hospital final bill
  2. Original numbered receipts for payments made to the hospital
  3. Complete breakup of the hospital bill
  4. Original discharge summary
  5. All original investigation reports
  6. All original medicine bills with relevant prescriptions
  7. Original signed claim form
  8. Copy of the Medi Assist ID card or current policy copy and previous years’ policy copies (if any)
  9. Covering letter stating your complete address, contact numbers and email address (if available).



For a post-hospitalization or a pre-hospitalization claim:

  1. Copy of the discharge summary of the corresponding hospitalization
  2. All relevant doctors’ prescriptions for investigations and medication
  3. All bills for investigations done with the respective reports
  4. All bills for medicines supported by relevant prescriptions

How will Medi Assist process Reimbursement claims?

  • At Medi Assist, on receipt the reimbursement claim is processed. The medical team at Medi Assist will determine whether the condition requiring admission and the treatment are covered by your health insurance policy. They will also check with all the other terms and conditions of your insurance policy. All non-medical expenses will not be payable.
  • Based on the processing of the claim, a denial or approval is executed. In case of approval, a cheque is made out for the approved amount and sent to you at
    the address mentioned in your health insurance policy. In case you have been insured through your Employer, the cheque will be dispatched based on instructions received from your Employer
  • In case your claim is denied, the denial letter is sent to you by courier / post / e-mail quoting the reason for denial of your claim. In case you have been insured through your Employer, the denial letter will be dispatched based on instructions received from your Employer.

 

Health Insurance is a right for every insured. Hence do not fail to avail the facilities provided by the Insurance Company/TPA. However, care should be taken to maintain all medical bills and documents for a trouble-free reimbursement process!

IRDA defers launch of health insurance portability

  • Sunday, June 26, 2011   Posted by S Babu Arunachalam

Insurance portability plan postponed: Irda

In a statement, IRDA said it “will implement portability of health insurance policies across non-life insurers in the country not later than 1 October”.
more »

Jeevan Arogya | Unique New Health Plan From LIC

  • Sunday, June 19, 2011   Posted by S Babu Arunachalam

Life Insurance Corporation of India introduces a unique New Health Plan – “LIC’S Jeevan Arogya”

From Ist of June 2011, LIC of India has launched a New Non Linked Health Insurance Plan “Jeevan Arogya”. The plan offers comprehensive hospitalization benefits for the whole family of the Principal Insured. A unique feature of this plan is that it also offers to cover the Parents in-law of the Principal Insured besides spouse,minor children and parents. There is a provision for inducting additional members or removal of existing members in case of any change in family circumstances of the Principal Insured. This is a Defined Benefit Policy meaning that benefits are fixed in terms of policy conditions and are payable irrespective of the actual amount spent on treatment. Moreover, the benefits are payable regardless of the Life Insured getting reimbursement under any other scheme from his/her employer or any other insurance company, on the basis of certified photocopies of the original bills.
more »

Welcome to VS Financial Advisors

  • Monday, June 13, 2011   Posted by S Babu Arunachalam

Welcome to VS Financial Advisors. This is S Babu Arunachalam proprietor of VS Financial Advisors. Brief Introduction About my Services.

  • Preparation of Financial Plan
  • Risk Profiling
  • Goal Based Financial Planning[Not exhaustive]
  1. Retirement Planning
  2. Children Education / Marriage
  3. Property Purchase
  4. Wealth Creation
  5. Saving for annual expenses
  6. Short term parking purpose
  7. Emergency Fund
  • Investment Options
  1. Mutual Funds | Debt, FMP, Equity, Hybrid, Tax Saving, etc | SIP, Lumpsum, etc
  2. Bonds- 54EC tax saving Capital Gains bonds, 80CCF Tax saving Infrastructure bonds,etc.
  3. Fixed Deposits, Recurring Deposits from HDFC and other companies.
  • Life Insurance – LIC, Traditional and non traditional policies.
  1. Term Cover
  2. Immediate Annuity
  3. Pension
  4. Children Plans – Child Education/Marriage
  5. Endowment
  6. Whole Life, Joint Life
  7. Money Back
  8. Health Insurance Defined Benefit Plans
  9. Others
  • General Insurance – New India
  1. Health Insurance, Mediclaim- Individual and groups
  2. Car Insurance
  3. Personal Accident including Permanent Total Disability and Permanent Partial Disability- Individual and groups
  4. Overseas travel medical insurance
  5. Home including contents[House Holders Policy]
  6. Computer, Laptop, Mobile, Electronic Goods
  7. Property, Fire, Burglary, Household Items
  8. Factory, Shop, Machinery, Office Equipment,Marine Transit,Fidelity Guarantee, Liability, Projects
  9. Others

My Role/ What I can offer

As an investment advisor, I would be able to provide the following services.

  • Mutual Funds / LIC – Life Insurance / New India – Car Insurance / Mediclaim Health Insurance Up to 80 Years / Travel Insurance / Property – Home, Equipments, Jewellery, Laptop, Mobile, etc – House Holders Insurance / Company Fixed Deposits, etc.
  • Suggestions and recommendations about various mutual funds as and when you have an investment need.
  • Suggestions and recommendations on your portfolio when you have a redemption need.
  • Provide Consolidated MF statement.
  • Periodical portfolio review and its implementation. To start with we can have half yearly reviews and I request the trigger for this from your side. As and when the portfolio grows in size, we can go for quarterly reviews. Of course, you are always welcome to ask for a review at any point of time based on your funds requirement, extra ordinary market movements, etc. I strongly believe that review is the most important part of the investment and mid course corrections are an inevitable part of long term investment plans and take the portfolio close to its objectives of reaching the given financial goal.
  • Servicing your investments which include KYC, KYC Updation, Change in bank account, address, nomination, etc.
  • Tax Filing Services from a Chartered Accountant– Fees as payable to him – Just in case you are looking for one.
  • Preparation of Will by a qualified legal consultant – Fees as payable to him – Just in case you are looking for one.

The Belief
I believe that, a good investment / insurance is one which should give peace of mind to the investor and in which there is proper clarity about the objectives which include – financial objective for which it is made

  • Target returns
  • Risk involved
  • Role of the investment advisor
  • Tax implications, etc.

 

The key advantages of an independent financial advisor managed portfolio include personalized investment suggestions that suits the clients

  • Investment need
  • Financial objective
  • Risk and return expectations
  • Portfolio reviews
  • Mid course corrections, etc.

 

Tell Us A Few Things To Understand Your Needs Better & Advice Suitably

Name -

Age -

Life Stage – Single / Just Married / Married With Kids / Retired

Nature of Income - Salary / Rent / Business / Profession / Pension / Others

Mobile -

Email Id -

My Investments [just tick, no need for details]

  • PF / VPF
  • PPF
  • Fixed Deposits / RD / Gold / Postal Deposits
  • Mutual Funds
  • Stocks / PMS / ESOP
  • Property
  • Others[give details]

 

My Insurance [just tick, no need for details]

  • Life Insurance
  • Term Insurance
  • Other Than Term Insurance
  • Health Insurance
  • Company Provided
  • Stand Alone
  • Critical Illness Cover
  • Accident /Disablity Cover / Overseas Travel Cover
  • Vehicle Insurance
  • Property Insurance

 

My Risk Appetite

  • Low (Safety of capital)
  • Medium (Willing to take moderate risk for better returns)
  • High (Willing to take higher risk for higher returns)

 

My Financial Goals

Goal – Child Education / Marriage
Amt. you wish to have for this goal in current cost

Years To Go -

Target Amt -

Goal – Property Purchase / Renovation

Amt. you wish to have for this goal in current cost

Eg:

  • House / Apartment Purchase
  • Residential Plot Purchase
  • Farm land Purchase
  • Renovation/Modification of existing house/property

Years To Go -

Target Amt -

Goal – Retirement

Years To Go -

Target Amt - p.m[per month] amount you wish to have as per current cost

Wealth Creation

Amt. you wish to have for this goal in current cost.
Eg:

  • Car
  • Own Venture
  • Gold/Ornaments
  • _________________(Others)

Years To Go -
Target Amt -

Saving For Annual Expenses

Eg:

  • School / College Fees
  • Vacation, Foreign Trip
  • Insurance Premiums
  • Loan Prepayment
  • _________________(Others)

 

Short-Term Investments[to park temporarily until final decision is make]

Eg:

Proceeds From The Sale Of

  • Property
  • Shares
  • Ornaments
  • Inheritance
  • Rental / Lease Advance
  • _________________(Others)

Note
Pl give as much details as possible as this would help us to understand your needs better and provide appropriate advice.

Thank you for your precious time.