Page 15 - Health Insurance

Results preview: Insurers may see compression in Q3 profit margin

Non-life insurers' premium is expected to report decent growth

Narayana Health gets Irdai nod to launch health insurance business

The company runs one of the largest hospital chains under the brand name of Narayana Hospital

Majority prefer banks deposits to park savings, 21% in gold, says Survey

The affinity of Indians for gold and traditional bank deposits remain unwavering as about 77 per cent of respondents preferred to safeguard their earnings through bank deposits and 21 per cent choose to invest in gold in 2023, according to a survey. The Money9 annual personal finance pulse survey indicated a positive trend in insurance penetration, with over 27 per cent of households holding life insurance policies in 2023, higher from 19 per cent in the 2022 survey. However, a 53 per cent of households still lack health insurance coverage, according to the survey, which is based on responses from over 35,000 households across 20 states. It further said that India's burgeoning stock market is gradually making its way into the pockets of investors, with the percentage of stock market investors surging from a mere 3 per cent to 9 per cent compared to the previous year. Additionally, 10 per cent of Indian families have now embraced mutual fund investments, up from 6 per cent in 2022.

Select a global health plan covering planned and emergency hospitalisation

The cost of treatment, especially in countries like the US, is much higher than in India, which makes a large sum insured essential

AHPI welcomes proposed regulator exclusively for health insurance

The Association of Healthcare Providers India (AHPI) has lauded the Ministry of Finance for contemplating setting up an independent regulator for health insurance. The ministries of finance and health are in discussions over the need for a sector watchdog to help achieve the IRDAI Vision 2047. The AHPI, representing a vast majority of private sector hospitals in the country, is also represented on the IRDAI advisory for the healthcare sector. In an official letter, the AHPI said, "This is a welcome move as making healthcare available, accessible and affordable has been resolved by the present government." The AHPI is very much engaged in this initiative. Penetration of private insurance is increasing at a fast pace and along with government-run insurance, India should soon be covering 70 per cent of the population, which will be a milestone to achieve Universal Health Coverage (UHC), it said. The AHPI has suggested that the proposed regulator, besides regulating the private insura

Health insurance: Govt to discuss 24-hr hospitalisation rule with Irdai

President of NCDRC, Justice Amreshwar Prasap Sahi, said that some district forums have innovated and ordered insurance cos to clear claims even when hospitalisation was less than 24 hrs

Centre may set up regulator for healthcare to expand insurance coverage

A regulator for the healthcare sector is expected to bring in standardisation and lower the costs

Employer sponsored health insurance cost to rise 11% in 2024: Report

The report is based on responses from 223 insurers across 58 countries, analysing the key trends that are shaping the future of health care provided by employers

Annual insurance review: Why you must boost term cover at key life stages

Your health insurance may need to be strengthened to keep pace with medical inflation

India's 95% population uninsured, 73% lack health coverage: Report

As much as 95 per cent of the country's population is uninsured despite the government and the insurance regulator's efforts to expand coverage, National Insurance Academy said in a report, which was released on Thursday. Unveiling the report, Irdai Chairman Debasish Panda urged the industry to emulate steps that led to the massive success of the UPI, opening of bank accounts, as well as mobile penetration. Panda said a compulsory natural calamity insurance in high-risk regions -- as recommended in the report -- is needed if the country wants to achieve insurance for all by the time the nation completes a hundred years as a republic. According to the report, 95 per cent of the country's population of 144 crore is uncovered. The high prevalence of lack of insurance coverage assumes importance in the light of the increase in the number of natural calamities and other climate-related disasters to hit the country. Further, it said 84 per cent people from low- and middle-income categor

22 procedures related to mental disorders covered under AB-PMJAY: Govt

Twenty-two procedures related to mental disorders are covered under the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), the government informed Parliament on Friday. The AB-PMJAY provides treatment corresponding to a total of 1,949 procedures under 27 different specialties, including mental disorders, nephrology, cardiology and general medicine, Minister of State for Health S P Singh Baghel told the Lok Sabha in a written reply to a question. Of the 1,949 procedures, 22 are related to mental disorders, he said. From 2021-22 to 2023-24, a total of 1.35 lakh hospital admissions, amounting to Rs 120.19 crore, were authorised under the scheme for treatment related to mental disorders, Baghel said. The average duration of stay (in days) for treatment related to mental disorders for the financial year 2021-22, 2022-23 and 2023-24 are 13, 12, and 11 respectively, he informed.

Time to review insurance cover; and buy art: Top personal finance stories

Our best stories this week explain how to review a key component of your financial portfolio and how to invest in art

Over 40 crore in India don't have health insurance: Report

The report found that the lack of health insurance was due to lower penetration, coverage inadequacy, and rising healthcare costs

Aditya Birla Health launches product 'Activ One' with 100% returns

Funds earned on Health Returns can be used for payment of renewal premium and other non-medical expenses, out-patient expenses, etc

'Claim denied': Mistakes in health insurance that can give you heartache

Being aware of policy's exclusions and waiting periods is equally vital

Health insurance safety, adventure sport boom: Top personal finance stories

Our pick of best stories this week explains why medical claims are rejected and how Indians are seeking thrill

Niva Bupa seeks to have gross written premium of Rs 10,000 cr by FY27

Health insurance company says Tamil Nadu among markets where it is seeking growth

CCI approves acquisition of additional stake in Niva Bupa Health Insurance

Fair trade regulator CCI on Thursday approved the acquisition of an additional stake in Niva Bupa Health Insurance Company by Bupa Singapore Holdings Pte. Bupa Singapore Holdings is a shareholder of Niva Bupa and a subsidiary of international healthcare group The British United Provident Association Ltd (Bupa). The transaction relates to the secondary purchase of shares by Bupa Singapore Holdings in the Niva Bupa Health Insurance Company from Fettle Tone LLP. After the transaction, the shareholding of Bupa Singapore Holdings will increase to 63 per cent in Niva Bupa Health Insurance. Niva Bupa Health Insurance provides insurance policies in India, while Fettle Tone LLP is a special purpose vehicle (SPV) set up by private equity firm True North Fund. The Competition Commission of India (CCI) said it has cleared the deal under the green channel route. "Apart from the Bupa Singapore Holdings's (Acquirer) and Bupa's existing interests in Niva Bupa (Target), there are no horizontal ..

Fertility care needs financial planning: What to do for insurance, funding

Couples contemplating surrogacy must know about their legal obligations

Table: Key information about health insurance plans sold by companies

Know about eligibility, key features and premium amount in Policybazaar table