Sanjiv Bajaj on right way to go in getting health insurance, rising premia & more

Not child's play: Why maternity insurance is booming and how to choose the right plan — all your queries answered
More couples are choosing to secure their financial future from unwarranted healthcare expenses by opting for comprehensive maternity coverage as they plan to welcome a baby into their family. Growing awareness of rising healthcare costs among wannabe parents has led to an 80 per cent YoY increase in maternity plans in FY24, according to PolicyBazaar data.

Niva Bupa ropes in Kotak, Axis, HDFC & three others to run its ₹3,000-crore IPO
Mumbai: Private health insurer Niva Bupa has lined up six investment banks to raise ₹3,000 crore in an initial public offering this year, three people aware of the development said.

Razorpay unveils new employee health insurance policy with sibling coverage, HIV/AIDS treatments
Bengaluru: Fintech major Razorpay has introduced a new employee health insurance policy, under which coverage will be provided to employees’ siblings, as well as for vital treatment like for HIV/AIDS. The new policy has also raised the company’s insurance costs by 3 to 5 per cent.

Health insurance claim rejection: Widow fights, wins Rs 28 lakh damage; pre-existing disease can't be free pass for claim denial

Publicly-funded health insurance schemes are no panacea
In a recent circular, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated life and general insurers to extend individual cover in certain identified gram panchayats. A similar exercise is expected to be taken up by the General Insurance Council. According to the National Family Health Survey, over two-fifths of households have at least one member covered under health insurance, which in turn corresponds with other estimates of just over 50 crore people being covered. Of this, the bottom half is being serviced by publicly-funded health insurance (PFHI) schemes such as Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY) under which approximately 21.9 crore beneficiaries have been verified. In sum, two-thirds of the population has no insurance cover, while most of those covered are the non-poor.

Compare features, costs regularly to find a better health insurance
Health insurance premiums are on their way up. A survey of 11,000 owners of personal health insurance policies by LocalCircles found that 52 per cent had witnessed an over 25 per cent increase in their renewal premiums in the past 12 months.
 

Aditya Birla Capital Q4 profit doubles to ₹1,245 cr

Mother’s Day 2024: Understanding the significance of health insurance for women
As we celebrate Mother’s Day, it is crucial to reflect on the health-related challenges that women face. From reproductive health to mental wellness, our mothers can encounter obstacles that demand attention, care and support. Most of the concerns often require timely intervention and should not be ignored.

Health insurance no longer a no-go zone for the elderly
It’s not uncommon to see senior citizens deferring or avoiding getting treated in a hospital, because they did not have health insurance cover. That is the uncomfortable truth confronting several elderly people in the country. But this situation is poised for a change following a recent decision by the Insurance Regulatory and Development Authority of India (IRDAI) to remove the upper age limit of 65 years for a new health insurance policy.

Insurers are having a Chillar Party: Maternity insurance sales skyrocket as couples brace for soaring costs

How Mothers at different life stages should choose their health insurance
While mothers are known for being the epitome of strength that shapes the foundation of a family, they often neglect their own well-being in the process. They seamlessly juggle multiple responsibilities and play every role simultaneously — right from being nurturers to breadwinners. The modern woman dons all hats and works tirelessly. This makes it all the more important for them to take care of their health and be armed with the safety of a robust health insurance.

Mother’s Day 2024: Top 5 crucial reasons why mothers shouldn't overlook health insurance
As a mother, your love knows no bounds when it comes to taking care of your family. From nurturing your children to supporting your spouse, you juggle multiple roles effortlessly. However, amidst the daily hustle, it's crucial not to overlook your own health and well-being. One of the most effective ways to safeguard yourself and your family against unexpected medical expenses is by investing in health insurance. Here are the top five reasons why mothers should prioritise health insurance:

Rising cost of having baby pushes insurance demand

India’s Health Insurance Makeover: ‘Cashless Everywhere’ to ‘Bima Vistaar’ – Mega insurance reforms on the way
The Insurance Regulatory and Development Authority of India (IRDAI) has plans to introduce big reforms for the health insurance sector in a bid to make insurance more accessible and consumer-friendly.

Customise insurance riders to fit your family's medical background

A growing number of health insurance customers are nowadays supplementing their base health insurance policies with riders. According to insurance aggregator Policybazaar.com, while only 15 per cent of customers purchased riders on their platform in 2022-23 (FY23), the number rose to 60 per cent in FY24.
 

HDFC Ergo withdraws 3 health insurance policies: How will it impact policyholders? Will premiums increase?

Health insurers settled 60% of claims cashless

Health insurance premium shot up over 25% last year for 52% policyholders, finds survey; here’s what you can do to reduce the impact

Health insurance rules changed for senior citizens: Be ready for a 10-15% hike in health insurance premiums

Health insurance sector hits record growth, settles claims worth Rs 75,000 crore at 25% Profit

Health insurance industry exposed! Here’s what policyholders get from insurers against lofty promises, reveals survey
Do health insurers provide what they promise to policyholders? A survey has revealed that nearly 43% of health insurance policyholders have faced difficulties in getting their claims processed over the last three years. These policyholders mentioned challenges such as rejection of claims, partial approvals, and delays in the claim process.

Making the most of day care claims in health insurance
Often, getting admitted to a hospital means staying on and getting treatment for ailments over a few days or weeks. However, for many diseases and medical conditions, the treatment or surgical procedure is done within a few hours and the patient is discharged the same day. Thanks to developments in medical science and the extensive use of technology, many diseases are treated as day care procedures.

IRDAI lifts age limit on health insurance: Here’s how senior citizens need to understand coverage, premiums and exclusions
For Dr Akash Jaiswal, keeping up with the clauses of insurance plans while treating his patients is a challenge. “There are many ifs and buts. Sometimes after prescribing a test, you come to know it is not covered by a policy. Or there are limits to cost reimbursements and the number of days one can be admitted — this is a challenge for the elderly because they tend to need longer hospital stays. There should be policies that provide comprehensive coverage, including services such as preventive health check-ups and immunisation,” says the geriatrician, a healthcare provider for older people. Despite working at Fortis Hospital, Gurugram, he himself has had difficulties in getting the right cover for his parents.

43% consumers faced problems in health insurance claims: LocalCircles Survey
As many as 43 per cent of insurance policyholders had difficulties processing their “health insurance” claims in the past three years on an aggregate basis, says a survey.

India needs to expand universal health coverage for ageing population: ADB
While the South Korea and Thailand have achieved universal health coverage, others lag behind with India having the lowest health insurance coverage among older people at 21 per cent, a report titled 'Aging Well In Asia' prepared by ADB said.
 

Health Insurance Claim: 43% policyholders faced difficulties, some had to wait an extra day at hospital, survey
As many as 43 per cent of insurance policyholders had difficulties processing their “health insurance” claims in the past three years on an aggregate basis, says a survey.

Star Health & Allied Insurance Q4 Results Live : profit rise by 39.84% YOY
Star Health & Allied Insurance Q4 Results Live : Star Health & Allied Insurance declared their Q4 results on 30 Apr, 2024. The topline increased by 17.14% & the profit increased by 39.84% YoY.

Hesitant health insurers get a regulatory prod to expand coverage
Source Credit: Subhomoy Bhattacharjee, Business Standard

Few Indians sport a health insurance cover. This is a good reason why the sector regulator, Insurance Regulatory Development Authority of India (Irdai) wants companies to sell more of this business. As a percentage of GDP (insurance penetration) health insurance is just 0.35. As a measure of social equity the number is abysmal.
 

Star Health posts highest-ever annual profit of ₹845 crore in FY24