The budget of 2012-13 has introduced small but useful takeaways for the health insurance sector. Some of the handy features are –
1. Tax-exemption up to Rs.5000/- for health check ups
2. Age eligibility for Senior citizens is lowered down to 60 years (from 65 years)
3. Tax deduction limit increased up to Rs.20,000 for senior citizens



Health Check ups are Tax-free
Any amount spent on health check ups can also be claimed for tax exemption up to Rs.5,000 every year. Earlier only the...  Read More »

The cost of health insurance cover has gone up and employers are changing the benefits offered to employees in a bid to adapt to the situation. According to employee benefit survey conducted by Marsh India, a 20% increase in cost of health insurance is forcing employers to ask their employees to make a co-payment on policies. Co-payment means that the employee has to pay a part of the costs incurred when making a claim and the remaining part is paid by the insurance company. Around 33%...  Read More »

It is a widely known fact that hiding pre-existing ailments from the insurance company can result in rejection of claim. However, in a recent judgement passed by the South Mumbai District Consumer Disputes Redressal Forum, the insurance company was ordered to pay Rs 5.5 lakhs plus 9% interest to a diabetic policyholder.
 

The policyholder, Kanhaiyalal Ruia, had taken a mediclaim policy from United India Insurance in 1994. After the insurance company rejected his claims, he filed a complaint...  Read More »

Over the years, insurance policies and the clauses listed under them have received a makeover. This is evident in the case observed by consumer forum between Mumbai resident, Hemant Shah and New India Assurance Company.

Shah, a senior citizen, had purchased a mediclaim policy called hospitalization and domiciliary benefit policy in March 1997 covering self and his wife.  In 2009, he underwent endobronchial biopsy, bronchoscopy and chemotherapy. After contacting the third party administrator...  Read More »

Many a times policyholders get medical treatment from a hospital of their choice or convenience. Public sector insurance companies (PSUs) have a tie-up with certain hospitals that feature in their Preferred Provider Network (PPN). These hospitals offer cashless mediclaim facility to policyholders however, there are many hospitals which are not under the PPN and the expenses on treatment have to be borne by the policyholder.

Under the Right to Information Act (RTI), the Central Information...  Read More »

Cashless Mediclaim facilities which were put on hold by PSU companies in July last year is now gaining momentum. Close to 560 hospitals in Mumbai, Delhi, Bangalore and Chennai have been added to the preferred provider network (PPN).

Preferred provider network is a network of different hospitals that offer cashless mediclaim facility to policyholders. This is decided by an agreement between the third party administrators and the hospitals.

New India Assurance, National Insurance, United...  Read More »

In a recent development, Jaslok hospital, one of the premier hospitals in Mumbai, has just joined the Preferred Provider Network (PPN).  The CEO of Jaslok, Colonel Manesh Masand said that they are joining PPN to help patients and have agreed to the rates for 43 packages. In instances where claims fall outside the purview of the package, either the insurance company or the policyholder will have to bear the costs. The cashless PPN rates will be effective from 15th January.

Another big...  Read More »