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Govt Relaxes Co-Pay Terms for Group Health Insurance Policies

By LS TMemb7

To make group health insurance policies work successful for public sector insurers, the government has eased co-payment terms for group health insurance policies and reduced mandatory cap of 20% co-pay to 5% on acquisition cost. The Finance Ministry, in a letter to the four state-run insurance companies, said that, acquisition cost should be reduced to […]

Treatment in Unregistered Hospitals May Fail to Meet Insurance Needs

By LS TMemb7

With the rapidly increasing number of private hospitals and over 2000 nursing homes existing currently, the number of illegal hospitals (not having a valid registration) are also increasing. This however, is a concerning issue for the medical/health insurance policy holders, as they will face the problem of rejection of claims from the insurers. In the […]

Policyholders May Benefit From IRDA Draft Norms on Claims Settlement

By LS TMemb7

The new draft norms by the Insurance Regulatory and Development Authority (IRDA) on health insurance sector may help policyholders expect clarity on critical issues like claim settlement and increase in renewal premiums. There are many cases where the reimbursement of claim or claim disbursement was delayed by up to six months. The series of recent […]

Health Insurers May Likely To Introduce Co-Pay in Group Policies

By LS TMemb7

Following the order from the Ministry of Finance to cut losses in insurance industry, all the public sector general insurers are likely to introduce co-pay ratio in all new group health policies. Co-pay refers to some percentage of amount or a part of the eligible claim that a policyholder has to pay and the balance […]

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