Health Insurance Claims Rejected: Top Reasons for Denial and What You Can Do
A staggering survey has revealed that nearly 50% of health insurance claims have been rejected over the last three years, with the Insurance Regulatory and Development Authority of India (IRDAI) reporting a significant 11% denial rate in FY24 alone, resulting in a whopping ₹26,000 crore in repudiated claims. This alarming trend highlights the need for policyholders to be aware of the common reasons for claim rejection, including pre-existing conditions, policy exclusions, and insufficient documentation. To avoid claim denial, it is essential to carefully review your health insurance policy, understand the terms and conditions, and ensure that all necessary documents are in order. With the rising cost of medical expenses, having a comprehensive health insurance plan is crucial, and being informed about the top reasons for claim rejection can help you make the most of your policy. By understanding the key factors that contribute to claim denial, you can take proactive steps to ensure a smooth claims process and get the financial protection you need when it matters most. Key factors to consider include policy premiums, coverage limits, and claim settlement ratios, which can significantly impact your health insurance experience. By being aware of these factors and taking necessary precautions, you can minimize the risk of claim rejection and enjoy peace of mind with your health insurance policy.
