Magma HDI Health Insurance

The Magma HDI Health Insurance company is a one of the premium health insurance companies in India. It is a joint venture between two giants such as India’s Magma Fincorp Ltd, and HDI Global SE, Germany. Headquartered in Mumbai, the company offers some of the best health insurance plans that cater to individuals as well as to families. The company also offers some excellent services in the areas of customer support and claim settlement, which give you some added benefits.

OneHealth

The OneHealth plan from Magma HDI Health Insurance is a comprehensive family floater health insurance plan. You can buy the plan for all the members of your family. It has a vast number of covers under it.

Individual Personal Accident

If you are left permanently or temporarily disabled following a road accident, you will get financial assistance from this policy. Also, if you die then your family will receive a death benefit. With the help of some health insurance riders, you can also get the cost of the medical expenses included in the plan, to make it more exclusive.

Loan Guard Insurance Policy

This is an excellent critical illness plan that offers a lump sum amount of money when you are diagnosed with a critical illness. You can then use the funds to clear your debts, create a corpus for your child’s education or pay for your expensive medical bills.

• No claim can be made within the first 30 days of buying the policy.
• No claim can be made for critical illnesses within the first 90 days of the policy.
• No cover is available for ailments related to alcohol or substance abuse.
• No cover for alternative treatments, except the AYUSH treatments.
• No claim can be made for the treatment of a war injury.

• All modern treatment procedures, including robotic surgeries, are covered under the Magma HDI Health Insurance plans.
• The company has an excellent customer care cell where you can reach out to and get your doubts solved. You can call the toll free number, 1800 3002 3202 or drop an email to customercare@magma-hdi.co.in.
• Multiple coverage options are available, ranging from INR 2 lakhs to INR 1 crore.
• The Magma HDI Health Insurance plans have the lifelong renewability benefit.
• You can get long term health insurance plans for tenures as long as three years at a stretch.

It is very easy to file a claim on the Magma HDI Health insurance plan. For a cashless claim, all you have to do is go to a network hospital, inform the insurance provider and your job will be done. For a reimbursement claim, you have to first pay the bill yourself and then submit the required documents. The insurance provider will then reimburse the amount to you.

The claim settlement process

Cashless Claim

For a cashless claim, you first need to go to a network hospital. If it is a planned hospitalisation, you need to inform the insurance provider at least 48 to 72 hours in advance about the impending hospitalisation and get your pre-authorization done.

Then, reach the hospital with the health card that you received from Magma HDI health insurance. Show the card to the hospital insurance desk and inform them of the cashless claim you wish to have.

However, in the case of emergency hospitalisation, you need to get admitted to a network hospital. Then, inform the insurance provider at the earliest, preferably within the first 24 hours and fill up the pre-authorization form immediately. Inform the hospital insurance desk too about the cashless claim and show them the Magma HDI health card.

Your treatment can begin basis the pre-authorization from the insurer. On discharge, the final bill is sent to the insurer for approval. Once received, you need to pay for the non-admissible charges like consumables, etc. while the remaining amount would be settled by the insurer.

To know whether your preferred hospital is a network hospital, click here and find the Magma HDI health insurance hospital list.

Reimbursement Claim

If you get admitted to a non-network hospital, you need to apply for a reimbursement claim after settling the bill on your own initially. The claim needs to be filed within 30 days of getting discharged from the hospital.

You need to submit all the original bills and memos, the doctors’ certificates, discharge summary, etc.

Once your application is cleared, the amount will be credited to your bank account. It is therefore important for you to keep all the original documents properly and submit them accurately to be able to make a good and effective claim that will not be rejected.

The process to renew your Magma HDI health insurance plan is very simple. You simply need to go online and click on the ‘renew policy’ option. You can continue with the same cover. All you have to do is enter your perineal details, the details about your existing policy and then pay the premium. Once that is done, your policy will be instantly renewed

Points to remember when renewing your Magma HDI health insurance plan

• Renew the plan before it lapses. If the plan lapses, you may have to apply for a fresh health cover. For that, fresh health screenings would be needed and there may be a sharp rise in your premium too. Then, the waiting period, NCB, and other accumulated bonuses may all get reset, leading to many problems.
• Reassess your health insurance needs. See if the sum insured you have is sufficient. If you have more family members now (due to your marriage, birth of a child, etc) you will need a higher coverage amount and vice-versa. Evaluate all the health insurance parameters and then renew the plan ensuring you have an appropriate mediclaim cover.

• The covers are available for all people, including kids, teenagers and senior citizens.
• The plans can be taken on an individual, as well as, a floater basis.
• There are close to 4500 network hospitals spread across the length and the breadth of the country.
• Easy claim process.
• The company is very modern and offers all the services like buying the health plan, renewing it, initiating a claim, etc online. The website has many useful tools such as the premium calculator. The Magma HDI health insurance premium calculator helps you to get an estimate of your health insurance costs before purchasing the plan.
• The claim settlement ratio for FY 2021-22 is 66.42%, which is very high and healthy.

• Extremely efficient and helpful customer care cell, available 24/7.
• Very well-defined health insurance products, offering unique covers such as IVF costs and psychiatric covers.
• Among the few health plans in the country to offer coverage for senior citizens under the regular floater plans.
• Over 46,93,412 happy customers.
• Over 86% of the claims are settled within 30 days.

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