Group health policies see rise in premiums in renewal cycle, shows data

There was a marginal increase of 0-5 per cent in group health insurance premiums

Group health insurance policies up for renewal in the current renewal cycle saw price correction, where insurers revised their premiums upwards. While in some cases premiums went up 15-18 per cent, others saw a marginal increase of 5 per cent, with the median increase being 10 per cent, said insurers and brokers.

Medical inflation, losses incurred due to Covid claims, and inclusion of modern treatment have weighed on group health insurance premiums. The impact of Covid claims on prices has been somewhat lower this year, said insurers. This is in stark contrast to last year, when they factored in the Covid