Magma HDI Group Health Insurance

Magma HDI Group Health Insurance

Claim settlement ratio (2019-20)

95.17%

Network hospitals

4300+

Total GHI lives insured (2020-21)

24.4 Lakhs

Total GHI claims incurred (2020-21)

24.98 Crores

TPA

External TPA

About Magma HDI group health insurance

Magma HDI group health insurance offers an array of services including motor insurance, personal accident insurance, and other commercial insurances like fire, marine, engineering, etc. With over 50 products in the market, Magma HDI aims to provide complete transparency and generate trust and respect amongst the customers. 

Magma HDI group health insurance is a joint venture between Magma Fincorp Limited and HDI Global SE Germany. If you choose to buy Magma HDI group health insurance through Pazcare, you will experience the best service available. Pazcare offers a user dashboard advantage for seamless onboarding and integration of employees. We will get you the best quotes at competitive prices. 

How to buy Magma HDI group health insurance at Pazcare?

You can buy Magma HDI group health insurance at Pazcare by following these few simple steps.

  1. Visit https://www.pazcare.com/ and click on the ‘Get Started’ button towards the left of your screen.
  2. A form will appear, fill in the information - your name, work email, phone number, company name, and the number of employees you wish to insure. 
  3. After submitting the form, one of our health insurance consultants will contact you within 24 hours. Tell us your requirements for the Magma HDI group health insurance policy. These include the type of policy, sum insured, and many more.
  4. After this we will get back to you with competitive quotes from Magma HDI group health insurance and a few other insurers.
  5. After you decide on the insurer and accept the terms and conditions of the policy, the payment will be processed.
  6. The onboarding process is carried out within 24 hours of making the payment. 

For further information, write to us at support@getpaz.com or call our customer care at +91 78291 11300. Alternatively, connect with us on Whatsapp using the number +91 81973 79596.

Why choose Magma HDI group health insurance as your insurance partner?

In-patient hospitalization

All the expenses incurred in the in-patient hospitalization will be covered under Magma HDI group health insurance.

24x7 customer support

You can contact Magma HDI group health insurance anytime on their toll-free customer care number. 

Add-on covers

Various add-on benefits can be added to your Magma HDI group health insurance base policy.

Magma HDI group health insurance claim settlement ratio

A health insurance claim settlement ratio shows the credibility of the insurance company. A higher claim settlement ratio shows the trustworthiness of the insurance company.

Financial Year Claim settlement ratio
2019-20 95.17%
2018-19 96.41%

Network hospitals of Magma HDI group health insurance

Magma HDI group health insurance has over 4300+ network hospitals that provide quality treatment to its customers. The network hospitals have cashless treatment facilities. Since they are spread all over the country, your employees can get treated from anywhere. 

Claim Magma HDI group health insurance

Magma HDI group health insurance cashless claim

You can make a cashless claim using the following steps with Magma HDI group health insurance plan.

  1. Go to the nearest network hospital

The cashless claim facilities are available at a network hospital only. Therefore, get to the nearest network hospital for your quality treatment.

  1. Show identity proof

The next step is to confirm your identity using the health insurance ID card or policy number, a valid photo ID like an Aadhar card, voter ID, etc, and the company ID at the hospital.

  1. Submitting the pre-authorization form

Once the above proof is verified, the next step is to submit the pre-authorization form to Magma HDI group health insurance. For emergency hospitalization, the form is submitted within 48 hours of hospitalization. In the case of planned hospitalization, it is submitted 3 days before the hospitalization. 

  1. Review of request

After the form submission, Magma HDI group health insurance will review the cashless claim request and the network hospital will be notified about the claim decision. You will be notified through an email or a message.

  1. Claim settlement

Once all of this is done and the insurer accepts your claim request. The claim is settled directly with the network hospital according to the terms and conditions of your policy.

Magma HDI group health insurance reimbursement claim

In case you get hospitalized at a non-network hospital, the reimbursement claim for Magma HDI group health insurance can be processed using the following steps.

  1. Inform your insurance company

The first step is to inform your insurer about the hospitalization. In case of emergency hospitalization, inform the insurer within 48 hours, whereas, in case of planned hospitalization, at least 3 days prior notice is required.

  1. Settle the bills at the hospital

After you get treated at a non-network hospital, you need to settle all the bills out of your pockets at the hospital.

  1. Collect all the documents

After you make the payment against the hospital bills, make sure you have all the original copies of all the required documents to file for a reimbursement claim with you. 

The documents required to file a reimbursement claim

  • A duly filled claim form
  • Policy copy/health insurance ID card
  • A valid unique identity card (Aadhar card, driving license, etc.)
  • All original medical bills and pharmacy bills, discharge summary, doctor consultation report and prescription papers.
  • A medical certificate specifying the duration, past medical history, and treatment details signed by the doctor in charge.
  • Other relevant documents.
  1. Submit the documents

After collecting all the relevant documents, submit them to the nearest Magma HDI group health insurance branch within 15 days of discharge.

  1. Claim processing

Once the documents are submitted, the insurer will review your documents and reject or approve the reimbursement claim request. This will be done as per the terms and conditions of your policy. Once approved, the claim will be settled in your bank account. You will be notified about the claim approval/rejection via SMS or your registered email.

You can also contact us at support@pazcare.com, to guide you through the whole process. We provide 24X7 claim assistance for your employees. 

Also Read: Health Insurance Claim Process

Magma HDI group health insurance renewal process

The Magma HDI group health insurance can be renewed easily with Pazcare at the end of your policy term. You can follow the below-mentioned steps to do the same.

Step 1: Get in touch with Pazcare. Submit a form containing details like your name, name of the company, number of employees you wish to insure, work email address, and phone number.

Step 2: Once the form is submitted, our consultants will get in touch with you. Since this is not a fresh policy, you will have to submit the following documents.

  • Active data of the employees - name, age, gender
  • Claim analysis report
  • Claim dump report from the insurer/TPA
  • Policy copy

Step 3: You can choose additional add-ons to your existing policy like maternity insurance riders to your existing policy. Furthermore, with Pazcare one can choose additional health and wellness add-ons to your Magma HDI group health insurance. These add-ons include wellness and therapy sessions, unlimited doctor consultations, and many more.

Step 4: Our consultants will get back to you with the competitive quotes for your Magma HDI group health insurance.  Based on your claims report and the add-ons you choose, your health insurance premium may vary from the previous policy year.

Step 5: The next step is to agree to the terms and conditions of the policy and pay the premium for your Magma HDI group health insurance policy. The policy will be usually valid for a year after the renewal.

Step 6: In case you are purchasing your Magma HDI group health insurance for the first time with Pazcare, the onboarding process will be carried out within 24 hours. During this period, one of our associates will contact you and provide you with all the essential information to get started with your group health insurance. 

We make sure that your Magma HDI group health insurance experience will be seamless using our Pazcare dashboard. Your employees can access their policy using Pazcare’s employee app which is available on both the app store and the play store. 

 

What is covered under your Magma HDI group health insurance?

Daily hospital cash benefit

Magma HDI group health insurance includes a daily hospital cash allowance to be used for the patient.

Maternity benefit

Under Magma HDI group health insurance, maternity benefits are a part of the insurance policy.

Hospitalization expenses

Your Magma HDI group health insurance will cover the hospitalization expenses incurred for an insured person.

Daycare procedures

All the expenses incurred in the daycare procedures will be borne by Magma HDI group health insurance. 

What is not covered under your Magma HDI group health insurance?

Addictive conditions

Any injury or illness because of substance abuse or any addictive conditions will not be covered by Magma HDI group health insurance.

Self-inflicted injuries

Injuries sustained because of self-harm or suicide attempts will not be borne by Magma HDI group health insurance.

Adventure sports

If an insured person gets injured while exercising any adventure sports, the expenses incurred will not come under Magma HDI group health insurance.

Vaccination costs

The cost of all the preventive care vaccinations will not be covered under Magma HDI group health insurance. 

Magma HDI group health insurance benefits

Critical illnesses cover

Magma HDI group health insurance covers critical illnesses like cancer of specified severity, Parkinson's disease, deafness, etc.

Permanent paralysis of limbs

Total or irreversible loss of limbs will also be covered under Magma HDI group health insurance. 

Tailor-made policy

Your Magma HDI group health insurance is highly customizable. You can choose to increase the sum insured and add-on benefits according to your employees’ needs.

Family coverage

According to the type of policy chosen, dependent family members can also be added in the Magma HDI group health insurance. 

Also Read: Group Health Insurance Schemes for Employees

Magma HDI group health insurance premium

Makes sure you use Magma HDI group health insurance premium calculator to estimate the cost for your policy. Here are some of the factors determining your premium.

Age of employees

The average age of employees is taken into account while calculating the premium for Magma HDI group health insurance.

Add-ons 

The number of add-on benefits that you include in your Magma HDI group health insurance policy will increase the premium amount. Since the scope of coverage will increase, the premium will also increase. 

Geographical location

The geographical location also plays a part in deciding on the insurance premium. This is because tier 1 cities will have a higher premium as compared to tier 2 or 3 cities. 

Sum insured

If the sum insured is more, the premium will also increase as the coverage provided will be more.

Check Out: Universal Sompo Group Health Insurance

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Magma HDI group health insurance claim process

1

Intimate your insurer

Intimate your claim to the insurance provider within 48 hours, in case of an emergency and at least 3 days prior in case of a planned hospitalization.

2

Verify your identity

Provide the proof of identity - policy number/health insurance ID card, company ID, and a valid unique govt. ID card

3

Submit the pre-authorization form

Fill out the pre-authorization form and hand it over to the hospital

4

Claim settlement

Once the details are verified. The claim will be settled directly at the network hospital.

5

Contact us for assistance

For any questions or assistance contact Pazcare at support@getpaz.com or call us at +91 78291 11300.

1

Intimate your insurer

Intimate your claim to the insurance provider within 48 hours, in case of an emergency and at least 3 days prior in case of a planned hospitalization.

2

Settle your bills

Settle all your bills and collect the original copies of hospital bills, doctor consultation reports, and other essential documents.

3

Submit the documents

Submit these original documents along with the claim form to the insurer.

4

Claim settlement

Once verified, the claim will be settled in your bank account directly.

5

Contact us for assistance

For any questions or assistance contact Pazcare at support@getpaz.com or call us at +91 78291 11300. We will guide you through the process.

Magma HDI group health insurance reviews

4.1 / 5

Rating based on
(6596 reviews)

Trinette

5 / 5

Great coordination among the customer support team members. Highly recommend!

Kamini

5 / 5

The entire service provided by Pazcare was amazing. Not to forget the productive wellness programs. Enjoyed all the sessions.

Nancy

5 / 5

Claim process was extremely hassle-free and easy. The team was extremely supportive throughout.

Ashfaq

4.5 / 5

Two thinks stood out for me. Good product knowledge and customer relationship. Good job on that!

Shruti

5 / 5

Incredible customer support system at Pazcare. Really impressed by the customer support team.

Radhika

5 / 5

The well coordinated team at Pazcare made our experience amazing. Team was ready to help us in each and every step. Good job!

Raj Singh

4.5 / 5

Because of the good interface on both dashboard & app, it makes it easier for users to access. Good job on that!

Harish

5 / 5

Great job on the dashboard & app. Extremely easy and hassle-free.

4.6 / 5

Rating based on
(3023 reviews)

Nancy

5 / 5

Claim process was extremely hassle-free and easy. The team was extremely supportive throughout.

4.4 / 5

Rating based on
(2193 reviews)

Trinette

5 / 5

Great coordination among the customer support team members. Highly recommend!

Ashfaq

4.5 / 5

Two thinks stood out for me. Good product knowledge and customer relationship. Good job on that!

Shruti

5 / 5

Incredible customer support system at Pazcare. Really impressed by the customer support team.

4.8 / 5

Rating based on
(913 reviews)

Radhika

5 / 5

The well coordinated team at Pazcare made our experience amazing. Team was ready to help us in each and every step. Good job!

4.2 / 5

Rating based on
(1267 reviews)

Raj Singh

4.5 / 5

Because of the good interface on both dashboard & app, it makes it easier for users to access. Good job on that!

Harish

5 / 5

Great job on the dashboard & app. Extremely easy and hassle-free.

Why buy a group health insurance
policy online from Pazcare?

  • Choose the suitable policy with our consulting approach
  • Custom-made plan with health and mental wellness add-ons
  • The tech-enabled Pazcare dashboard to manage endorsements
  • Integrate the dashboard with your HRMS tool

Magma HDI group health insurance customer care number

For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.

Magma HDI group health insurance

Frequently asked questions around Magma HDI group health insurance

What is the claim settlement ratio of Magma HDI group health insurance?

The claim settlement ratio for the financial year 2019-2020 of Magma HDI group health insurance is 95.17%.

How can I claim Magma HDI group health insurance?

You can claim Magma HDI group health insurance in 2 ways i.e. cashless claim and reimbursement claim. Cashless claims can be made in any network hospital and if you get treated in a non-network hospital, you can apply for a reimbursement claim.

Is Magma HDI group health insurance available on Andaman & Nicobar islands?

You can find Magma HDI group health insurance cashless hospital in Port Blair of Andaman & Nicobar islands.

Can I post my documents for reimbursement claims in Magma HDI group health insurance?

Yes, you can easily post all the relevant documents at - Magma HDI General Insurance Co Ltd Rustomjee Aspire, 4th Floor, Sion-Wadala Link Road, Off Eastern express highway Everard Nagar, Sion (East) Mumbai, 400 022.

Does Magma HDI group health insurance provide a free look period?

Yes, a free look period of 15 days is given in Magma HDI group health insurance.

Is the Magma HDI group health insurance only available in PAN India?

Yes, Magma HDI group health insurance only applies within the Indian perimeter.