Health Insurance

55th GST Council takes key decisions, defers rate cuts on insurance premium

GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST Council defers decision to reduce tax on health, life insurance

Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

Steep rise in premium, poor claim experience? Consider porting your policy

Check for loopholes in coverage, like sub-limits, and evaluate whether you need to augment coverage through a super top up policy

GoM proposes GST cuts for health insurance, exemption for term policies

Also recommends reduction of rate on individual health covers from 18% to 5%

Health insurance benefits: Taxpayers' guide to getting income tax rebates

Individuals can claim a tax rebate for health insurance premiums under Section 80D of the Income Tax Act

Star Health & Allied Insurance eyes 18% GWP growth this financial year

Star Health reported an 11 per cent drop in profit after tax (PAT) to Rs 111 crore during the quarter ended September 30, down from Rs 125 crore in the corresponding quarter last year

UnitedHealthcare CEO murder suspect Luigi was an Ivy League graduate

Coming from a privileged background, Luigi Mangione cut ties with family and friends six months before the alleged shooting

Luigi Mangione, accused of killing UnitedHealthcare CEO, finds support online

Brian Thompson's shooting highlights systemic issues in US healthcare: Here's all you need to know with a timeline of events

Health claims rise: Combine base policy, super top-up for high coverage

To combat rising health insurance expenses, an adequate sum insured is essential

Health claims up 30% in 3 years; heart diseases drive 30% of term claims

Younger adults (18-35 years) contribute the most to health insurance claims, according to a report by Policybazaar

Insurance premiums may drop if GST Council decides to reduce taxes: FM

Finance Minister Nirmala Sitharaman on Monday said the cost of insurance to the policy holder is expected to come down if the GST Council recommends a reduction in GST rate on health and life insurance policies. In a written reply in the Lok Sabha, she said the GST Council in its September 9 meeting had recommended to constitute a Group of Ministers (GoM) to holistically look into the issues pertaining to GST on life insurance and health insurance. "...The matter of review of GST rates on life and health insurance is pending before the GoM. If a recommendation for a reduction in GST rate is made by the GST Council, the cost of insurance to the policy holder is expected to come down on account of reduction in GST," she said. Sitharaman said this while replying to the question on whether GST reduction on health insurance will be a step towards making healthcare more equitable. To a query on how the government will ensure that insurance companies pass on the benefits of any GST reduct

Govt collects Rs 16,398 crore GST on health, life insurance in FY24: FinMin

This comes amid demands from stakeholders, including states, to reduce GST rates on health and life insurance premiums

GoM report on GST on health insurance to be put before Council: FinMin

Recommendations of the Group of Ministers (GoM) looking into issues pertaining to GST on life and health insurance will be placed before the GST Council when received, Parliament was informed on Monday. The issue of exempting/reducing GST on life and health insurance was placed before the GST Council in its 54th meeting on September 9, 2024. After detailed deliberations, the Council recommended constituting a GoM to holistically look into issues pertaining to GST on life and health insurance. Accordingly, a GoM was constituted under the Chairmanship of Samrat Chaudhary, Deputy Chief Minister of Bihar. First meeting of the GoM was held on October 19, 2024 at New Delhi where issues of GST rate on health and life insurance policies were discussed, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha. "Recommendations of the GoM when received will be placed before the GST Council," he said. GST on health insurance services and pure term life insuranc

Demand for super top-up health insurance plans rises after Covid pandemic

A super top-up health insurance plan pays the policyholder for medical expenses that exceed the coverage limit of their base health insurance policy

GST on health insurance needs to be reduced: IFFCO Tokio's Subrata Mondal

Mondal discussed the future plan of the companies along with the emerging challenges for the sector

Galaxy Health unveils a plan with no co-payment, ICU cover & bonus

Plans address a range of family health care needs such as assisted reproduction treatment, in-utero fetal surgery for unborn

GST Council may waive 18% tax on senior citizens' insurance plans in Dec

The GST Council is scheduled to meet in Rajasthan on December 21 and 22 to discuss potential tax relief on select insurance plans

Air pollution driving up health costs? Choose comprehensive insurance now

Currently, health insurance in India does not feature policies exclusively focused on pollution-related health issues

Keep health cover comprehensive and contemporary by adding riders

Some base policies have restrictions, such as co-payment or room rent sub-limit. A rider can overcome these restrictions

SAHIs share in retail health insurance segment rises to 57% in FY24

According to the red herring prospectus (RHP) filed by Niva Bupa, the growth in share is attributed to the rising number of individual agents, an expanding hospital network