Cholamandalam Health Insurance Claim Settlement Ratio

The health insurance claim settlement ratio is the percentage of claims settled by an insurance company compared to the total claims filed. This ratio helps you understand and analyze a company's claim settlement performance. It is a standard parameter used to rate insurance companies, making it one of the most important factors for customers to consider when selecting an insurer.

Chola Claim Settlement Ratio

Chola MS Health Insurance Company is a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. It is a recognized insurance company and has received awards from the Government of India and international entities. With a 94.5% claim settlement ratio, they are known as a trustworthy company in India's insurance market.

Types of Claims by Chola MS Health Insurance Company

The company offers two types of claims to meet customer needs. Here are the details of Chola MS claim settlement types:

• Cashless Claims
• Reimbursement Claims

How to File Chola MS Health Insurance Cashless Claims Online

Filing a claim with Chola MS Insurance Company is easy and can be done online, saving time and effort. You can contact the company, submit your documents, and check your claim status easily on the 'TuneIn' customer app and their official website.

• Step 1

  Find the network hospitals of Cholamandalam Health Insurance Company and get admitted only to hospitals within your insurer's network.

• Step 2

  For planned hospitalization, notify Cholamandalam Health Insurance Company at least 48 hours in advance. For emergency hospitalization, inform the company within 24 hours. Upon approval, Chola Health Insurance Company will review the claim request and provide pre-authorization within 2 hours.

• Step 3

  Upon admission, the hospital will send a pre-authorization request for cashless treatment to the TPA. Submit all necessary documents such as the doctor's prescription for hospitalization, medical reports, receipts, medical bills, and prescriptions, along with any additional required documents. Once approved, the customer can avail of medical treatment.

• Step 4

  At the time of discharge, complete all medical documents and pay for services not covered under the policy.

• Step 5

  The hospital will send the bills to Chola Health Insurance Company. After review, the company will pay the bill directly to the hospital.

Chola Health Insurance Company claim settlement is a straightforward process. Please note the following:

• Pre and post-hospitalization expenses can be claimed separately after treatment.
• All original documents must be submitted to the TPA within 7 days after completing post-hospitalization treatment.
• Pre-authorization for hospitalization is provided within 2 hours.

How to File Chola MS Health Insurance Reimbursement Claims

With reimbursement claims, customers can visit any hospital, including non-network hospitals. Customers pay for their treatment out of pocket and then apply for reimbursement from their insurer. After the company approves the documents, the claimed expenses are paid to the customer's bank account. This reimbursement process can be time-consuming.

To make a claim, the customer needs to submit all hospital bills, prescriptions, and medical documents. These documents will be approved by Chola Health Insurance Company.

• Step 1

  Send an intimation about hospitalization to the TPA or the insurance company immediately, and within 24 hours for emergency hospitalization.

• Step 2

  For Chola Health Insurance claim settlement, all necessary original documents such as diagnostic test reports, X-ray reports, scans, other investigation reports, prescriptions, and discharge summaries must be submitted to the TPA or insurance company within 7 days from the date of discharge.

• Step 3

  Cholamandalam Health Insurance Company will then process the fund transfer and document approval.