Page 7 - Health Insurance

ESIC extends benefits to superannuated insured persons with relaxed norms

The Employees' State Insurance Corporation (ESIC) on Saturday decided to extend medical benefits to superannuated insured persons with relaxed norms. The decision was taken at the 193rd meeting of ESIC under the chairmanship of Union Minister Bhupender Yadav, a labour ministry statement said. The ESIC approved a proposal to provide medical benefits to the insured superannuating workers who went out of the ESI Scheme coverage due to exceeding the wage ceiling, if the worker was under insurable employment for at least 5 years before superannuation/ voluntary retirement, it stated. The persons who were in the insurable employment for at least 5 years after April 1, 2012 and superannuated/voluntarily retired on or after April 1, 2017 with wages up to Rs 30,000 per month will be benefitted under the new scheme. To augment the service delivery mechanism in North-Eastern states to fulfil the vision of Act East Policy of the government, the ESIC relaxed the existing norms for establishment

IRDAI asks insurers to give coverage for AYUSH in health insurance policies

IRDAI asked companies to modify products that contain limitations for AYUSH treatments and ensure compliance with the revised guidelines

Star Health Insurance Q3 results: Net profit rises 37.5% to Rs 289.55 cr

The net commission of the health insurer dropped 13.11 per cent (Y-o-Y) to Rs 349.85 crore from Rs 402.64 crore

GST on health insurance must be cut in Budget: Niva Bupa Health Insurance

Krishnan Ramachandran, Managing Director and Chief Executive Officer, Niva Bupa Health Insurance, told ANI that 18 per cent GST rate "does not make the product more affordable."

'Cashless everywhere' may cut claims cost, say insurance companies

The 'Cashless Everywhere' initiative aimed at making cashless treatment available for policyholders even in non-empanelled hospitals registered under the Clinical Establishment Act

Insurance firms must adhere to best practices for customers: Regulator

IRDAI discusses issues related to expanding insurance, technology and collaborations

Niva Bupa premium growth may slow down to 25-30% over next 3-5 years: CEO

The health insurer is also planning to come up with their Initial Public Offering (IPO) in financial year 2024-25, though the size has not been decided yet

Key information about health insurance plans explained in one table

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

Insurance cover under Ayushman Bharat health scheme likely to be doubled

The government is working on finalising a proposal to double the insurance cover under its flagship Ayushman Bharat health scheme to Rs 10 lakh to ensure that serious diseases like cancer and transplants that entail more expenditure are supported by it, official sources said on Wednesday. An announcement to this effect is likely to be made in the interim Union Budget on February 1, the sources told PTI. The Union health ministry is also planning to double the beneficiaries to 100 crore under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to include Kisan Samman Nidhi recipients, construction workers, non-coal mine workers and ASHA workers in the next three years. "In order to ensure that serious illnesses requiring expenditure of more than Rs 5 lakh such as transplants and high-cost cancer treatments etc. are also covered under AB PMJAY, the ministry is working on finalising a proposal to increase the cover amount from Rs 5 lakh per family per year to Rs 10 lakh pe

Cover under Ayushman Bharat health insurance scheme likely to be doubled

The government is working on finalising a proposal to double the insurance cover under its flagship Ayushman Bharat health scheme to Rs 10 lakh to ensure that serious diseases like cancer and transplants that entail more expenditure are supported by it, official sources said on Wednesday. An announcement to this effect is likely to be made in the interim Union Budget on February 1, the sources told PTI. The Union health ministry is also planning to double the beneficiaries to 100 crore under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to include Kisan Samman Nidhi recipients, construction workers, non-coal mine workers and ASHA workers in the next three years. "In order to ensure that serious illnesses requiring expenditure of more than Rs 5 lakh such as transplants and high-cost cancer treatments etc. are also covered under AB PMJAY, the ministry is working on finalising a proposal to increase the cover amount from Rs 5 lakh per family per year to Rs 10 lakh pe

300 mn Ayushman Cards created under AB-PMJAY since 2018: Health ministry

Uttar Pradesh topped the list of states with the highest number of Ayushman cards at 48.3 million cards. It was followed by Madhya Pradesh at 37.8 million cards and Maharashtra at 23.9 million cards

Mumbai-based Akumentis Healthcare launches drug for treatment of epilepsy

Akumentis Healthcare on Wednesday said it has introduced a drug for the treatment of epilepsy. The Mumbai-based company has launched Clasepi, a DCGI-approved prescription cannabidiol (CBD) specifically formulated to address seizures linked with Lennox-Gastaut Syndrome (LGS), Dravet Syndrome, or Tuberous Sclerosis Complex (TSC) in patients aged 1 year and older, it said in a statement. Clinical studies have demonstrated Clasepi's efficacy in reducing seizures, especially in cases where conventional anti-seizure medications have proven ineffective, it added. "We understand the immense physical and emotional toll that frequent seizures can have on patients and their families," Akumentis Executive Director Kanishk Jain said. This is the driving force behind our commitment to developing novel solutions that effectively relieves the complexities of these disorders, he added. According to the World Health Organisation (WHO), epilepsy constitutes a considerable portion of the global disea

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