One of the important points while purchasing a Group Health Insurance Policy is to select a Third-Party Administrator (TPA). It’s essential to choose a Third-Party Administrator (TPA) who can provide efficient and reliable services. Paramount TPA is one of the leading IRDAI approved TPAs in India and this blog will provide a detailed overview on Paramount Health Services and Insurance TPA in India.
What is a Third-Party Administrator (TPA) in India?
Third Party Administrators (TPAs) play a very important role in settlement of Health Insurance Claims. They act as intermediary between the Policyholder and the Group Health Insurance Company and perform functions such as:
- Issue of ID Cards to Policy Holders
- Settlement of Reimbursement and Cashless Hospitalisation Claims
- Build a network of hospitals for policyholders to avail cashless claim settlement
About Paramount TPA
Paramount TPA acquired a TPA license from Insurance Regulatory and Development Authority in 2002 and it is one of the largest Third-Party Administrators (TPA) in India. Today, Paramount TPA has a presence in 130 locations in India.
Paramount TPA has tie-ups with more than 20,000+ Network Hospitals and is empaneled with 29 leading group health insurers in India. Paramount TPA provides comprehensive range of services including Policyholder enrollment, Endorsement in Group Health Insurance Policy and an efficient Claim Settlement Process.
What are the benefits of Paramount TPA?
Paramount TPA is a leading Third-Party Administrator in India, and it is a preferred choice for employers seeking group health insurance coverage for employees. Here are some key advantages of choosing Paramount TPA:
- Extensive Hospital Network and Cashless Claim Settlement: Paramount TPA has more than 20000+ network hospitals across the country as well as tie-ups with leading group health insurance companies in India. This ensures that employees can avail cashless claim settlement at major hospitals in India without worrying about immediate out-of-pocket expenses. Cashless Claims Settlement provides peace of mind from high medical bills.
- Efficient Claim Settlement: One of the important functions of any TPA is to provide an efficient claims settlement process and Paramount TPA excels in this area by providing 24*7 claim settlement process. This means that the employees can raise health insurance claims anytime during the day. They have a quick group health claims settlement process with low turnaround times.
- Customer Support: Another benefit of Paramount TPA is that it provides excellent customer support. They have a dedicated team of professionals to assist policyholders queries or concerns related to policy coverage, claim procedures, and general assistance
What is the Process for availing Cashless Claims Settlement at Paramount Health Insurance TPA?
Availing the cashless claims settlement with Paramount TPA is a very simple and straightforward process. Here’s a step-by-step guide to avail cashless claim settlement with Paramount TPA:
- Network Hospital: Choose a hospital from Paramount TPA’s extensive list of network hospitals to avail cashless claim settlement.
- Policy Information: Provide your Health Insurance Policy ID Card details to the hospital’s insurance desk during admission.
- Pre-Authorization Form: Fill out the pre-authorization form provided by the hospital. This form requires information such as policy details, medical history, and estimated treatment cost.
- Verification: The hospital’s insurance desk will verify the details and submit the pre-authorization request to Paramount TPA.
- Approval: Paramount TPA will review the request and communicate the approval or denial of the claim to the hospital and policyholder.
- Cashless Treatment: If the claim settlement request is approved, the policyholder can proceed with the treatment without paying for the hospitalisation expenses. Paramount TPA settles the bills directly with the hospital by co-ordinating with the health insurance company.
Paramount TPA List of Network Hospitals
You can view the entire list of network Hospitals with Paramount TPA by clicking on the following link:
Qian also assists its clients with the entire cashless claims process with Paramount TPA. The dedicated claims settlement team at Qian will intimate the claim to Paramount TPA and follow up with the Cashless Claim Team at Paramount TPA regarding Claim Status and documentation and ensure quick claims settlement for the employee. If you wish to purchase a Group Health Insurance Policy with Qian, you can email us at email@example.com
What is the Process for availing Reimbursement Claims Settlement at Paramount Health Insurance TPA?
If you need to submit a reimbursement claim to Paramount TPA, here is a step-by-step guide:
- Intimation: Intimate Paramount TPA about the claim via email at firstname.lastname@example.org. Provide necessary information such as Policy Number, Date of Admission, Hospital name and Address and Reason for Admission in the email.
- Submit the Documents: Submit the required documents to avail reimbursement claim settlement such as Claim Form, Hospital Bills, Diagnostic Reports, Prescriptions, Pharmacy Bills, Discharge Cards and any other relevant records.
- Claim Processing: Paramount TPA will review and process the claim based on the documentation provided and as per the policy terms and conditions. The TPA will communicate with you for any additional documents or clarification if required.
- Reimbursement: Once your claim is approved, Paramount TPA will initiate the reimbursement process, and you will receive the eligible amount in the bank account as per the policy coverage.
Qian assists its clients with the entire claims settlement process in a Group Health Insurance Policy. Our dedicated claims settlement team will collect all necessary documents from the Policyholder and submit them to Paramount TPA. Our team will also follow up with Paramount TPA regarding the Claim Status and follow up for pending documents. If you wish to purchase a Health Insurance Policy with Qian, Click Here.
What are the documents required to be submitted to Paramount for a Reimbursement Claim Settlement?
To ensure a smooth reimbursement claim process with Paramount TPA, make sure to submit the following documents:
- Duly filled claim form
- ID Proof along with Health Insurance ID Card
- Original Hospital bills and receipts
- Investigative Diagnostic Lab reports
- Pharmacy Bills and Prescriptions
- Discharge summary
- Any other supporting documents as specified by Paramount TPA
It is advisable to maintain copies of all submitted documents for your reference.
How Do I Track the Claim Status with Paramount TPA?
Paramount TPA offers a convenient way to track our claim status. Here’s how you can do it:
- Online Portal: Visit Paramount TPA’s official website and log in to your account. Navigate to the claim section, where you can track the progress of your claim using the provided reference number.
- Helpline: Alternatively, you can contact Paramount TPA’s customer support helpline (Toll – 022 6662 0808) and provide them with the necessary details to inquire about your claim status.
Paramount TPA Customer Care: How do I contact Paramount TPA?
If you need to get in touch with Paramount TPA, you have multiple options:
- Customer Support Helpline: You can reach out to Paramount TPA’s dedicated customer support helpline at 022-6662 0808. Their representatives will assist you with your queries and concerns.
- Online Portal: Visit the official website of Paramount TPA at https://www.paramounttpa.com. The website provides comprehensive information about their services, network hospitals, and contact details.
- Email: You can also communicate with Paramount TPA via email. Send your queries or requests to email@example.com, and their team will respond to you promptly.
Paramount TPA is one of the leading TPAs in India and choosing Paramount for your Group Health Insurance Policy ensures that you have a reliable partner to navigate the complexities of the Group Health Insurance Claim Settlement Process. With their extensive network, cashless facilities, and efficient claims processing, Paramount TPA offers peace of mind and comprehensive support when it matters most.
You also need an experienced Group Health Insurance Broker to assist you in comparing Group Health Insurance Coverages and Quotes. Qian is a licensed Group Health Insurance Broker with experience of serving leading corporates for their Group Health Insurance Policies. Qian has tie ups with leading Group Health Insurance Providers and a dedicated claims settlement team.
If you wish to purchase a Group Health Insurance Policy, you can email us at firstname.lastname@example.org. We would be glad to assist you.
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