• Read Health Insurance news or Enjoy it on the go Google Play

    • The importance of a top-up health insurance plan

      A top-up health insurance plan is helpful to manage your sum insured with affordable premiums if the health insurance policy offered by your employer is not sufficient or if you find that the premiums of other health insurance policies are relatively on the higher side. A top-up plan provides additional coverage beyond the maximum limit offered by the basic health insurance policy. The sum insured gets automatically recharged at the end of the policy’s tenure for most insurers. If, however, the medical expenses exceed that of the sum insured, then a top-up plan will help to bridge that gap and meet the additional expenses. A top-up plan can be obtained from any insurer, and not just the company from which the existing policy has been availed. Family floater plans and individual plans can be availed. At the time of renewal, the coverage can be increased as well. If both parents are covered under the top-up plan, then children can be included in it too. A super top-up plan enables the policyholder to make multiple claims in a single year until the sum insured is exhausted. However, a base plan that covers the medical expenses up to the declared deductibles is required.

      3 January 2020

    • The impact of increasing pollution levels on health insurance premiums

      Increasing pollution levels leads to decreasing quality of life and increasing hospitalizations due to respiratory problems. Many insurers increase their premiums, especially in areas such as the Delhi-NCR region and parts of North India. This is due to the higher loss ratio in these areas when compared to other parts of the country due to the higher cost of healthcare as well as unhealthy lifestyle habits. There has been speculation that increasing pollution levels could also lead to increasing premiums, although this has not happened till now. In order to increase premiums, insurers must obtain regulatory approvals which could take months to materialize. With increasing technological sophistication in underwriting, if there is also a higher incidence of claims in the Delhi-NCR region because of respiratory illnesses or other lifestyle related diseases, then a proposal to increase premiums may become a reality. Despite a rise in hospitalizations, there has not been a significant rise in claims. The data for this must be collated before any concrete action can be taken by insurance firms. However, the requirement for surgery for people suffering from respiratory problems is relatively lower than for other ailments, which means the cost of pollution-related respiratory problems may not be that high as to warrant an increase in premiums as of now.

      28 November 2019

    • How to choose the right health insurance plan

      There are many factors to consider when choosing the right health insurance plan. Some of them are the no-claim bonus, room rent capping, sum assured, free health checkups, claim settlement ratio, etc. The No Claim Bonus (NCB) is the additional coverage that is added when no claims have been raised during a policy year. This would be on an average of 5% increase in the sum assured. This is availed at the time of renewal of the policy. Instead of NCB, a cumulative bonus can also be chosen to increase the sum assured amount. Room rent is one of the sub-limits found under most insurance plans. This is either a percentage of the sum assured or an absolute amount. There are plans that do not have any sub-limits to the room rent. Sum assured is another important factor with the rising cost of healthcare so it is best to choose the highest sum assured that you can afford to pay through premiums or a top-up cover that includes a deductible. Free health checkups are offered by many insurance firms after renewing the policy for a number of years or on joining. Discounts on premiums are also offered on achieving certain health or fitness goals that are predefined by the company. The claim settlement ratio is an important indicator of the percentage of claims that have been settled by the insurer. The time required for reimbursements and cashless hospitalisation should also be taken into consideration.

      26 November 2019

    • How to avoid delays in health insurance claims settlement during hospital admissions

      In the case of cashless claims for insured patients, there can be delays at the time of discharge if the claims have not been settled by the insurer. In order to avoid these delays, it is important to understand how the insurance process and verification works. The first step in filing a cashless claim is obtaining pre-authorization from the insurance firm. The person for whom the treatment will be done has to fill in the personal insurance details while the doctor fills in the treatment details. This form is then sent to the billing department of the hospital. An estimate of the cost and the required supporting documents are then sent by the hospital to the insurer.

      Pre-authorization is an acknowledgement and not a guarantee that the claim will be paid. An initial amount will be sanctioned by the insurer if approved. In the event of a sudden hospitalization, then a deposit would have to be paid to the hospital out-of-pocket, which will be reimbursed later. For the claim to be processed, the insurer needs to have the discharge summary and hospital bills, which can be delayed, causing a delay in settlement. To avoid this delay, it is best to enquire about a probable date of discharge and request the insurance help desk at the hospital to prepare the documents in advance so that they can be sent out as soon as the discharge has been ordered. Keeping in touch with the third-party administrator or insurer will help to expedite the process.

      21 November 2019

    • Health insurance premium may increase by 5% in case you live in a polluted city

      In case the Delhi-NCR claims data shows an increase in respiratory disorders and hospitalisation, health insurance companies may increase the insurance premium by 5% across India.

      Insurance companies have another option of insisting customers in Delhi-NCR to undergo health check-ups before providing them with health insurance. The risks of respiratory diseases, stroke, lung cancer, and heart disease have increased in Delhi and its neighbouring cities as they are smog-hit. However, until now, no data have shown an increase in claims because of smog-related reasons. In India, penalising cities because of health risks is not common. The main factors that affect the health insurance premium are the incidence of frauds, claims records, healthcare treatment, etc. However, geography-based pricing is allowed by the IRDAI. According to the MD and CEO of Max Bupa Health Insurance, Ashish Mehrotra, insurance companies can fix the premium for geography by the pricing the policy according to the zone. According to various experts, the premium is determined by health insurance companies across various cities so that the risks can be managed better. This also ensures that individuals from a certain city or geography do not have to pay a high premium. At the moment, deciding the premium based on geography is not very popular. According to various insurance officials, a high number of fraud claims have been witnessed in Delhi-NCR.

      19 November 2019

    • Reliance Health Insurance ordered by IRDAI to stop selling policies

      Reliance Health Insurance Co. Ltd. (RHIC) has been ordered by the Insurance Regulatory and Development Authority of India (IRDAI) to stop selling new insurance policies. This is because it was unable to meet solvency margins. The liabilities and assets have been directed to be transferred to Reliance General Insurance Co. Ltd. (RGIC). This order must be complied with by 15 November 2019. RGIC has been ordered to service the claims of the insurer.

      11 November 2019

    • IRDAI’s circular: The regulator steps in to ensure enhanced health insurance coverage

      Insurance Regulatory and Development Authority of India (IRDAI) is always working to ensure that the insurance products offered by insurers to its customers are customer friendly. Keeping this in mind, the regulatory body released a circulatory which is a brilliant news for people looking to purchase an insurance product.

      The circular basically focused on three main points:

      The first point was how an insurance product should largely aim to benefit the customers. IRDAI has called for wider benefits and asked the insurers to design insurance products which would cover a larger pool of critical illnesses.

      The IRDAI has also asked the insurers to address the ambiguities in health insurance policies.

      Lastly, the regulatory body wants insurers to ensure that more people in India have access to insurance products.

      7 November 2019

    • Why young adults too need to buy health insurance

      In today’s time it is important to purchase a health insurance plan. If you are young, it is recommended that you purchase health insurance since the premium will be low as you will be less susceptible to falling sick. As you grow with age, you will have to shoulder various responsibilities and more people will be dependent on you. In case you are diagnosed with an illness or meet with an accident, your health insurance policy will ensure that the cost of treatment is taken care of and you do not have to touch your savings to meet the cost of treatment.

      The biggest reason why young people must buy health insurance is due to medical insurance. The average healthcare inflation was 7.14% for 2018-19, witnessing a steep rise from 4.39% in 2017-18. With medical inflation rising at the rate of over 50% on a yearly basis, it becomes important to purchase a health insurance policy and avoid your savings being used to cover the cost of treatment.

      6 November 2019

    • IRDAI introduces new laws to make health insurance user friendly

      The Insurance Regulatory and Development Authority of India (IRDAI) has introduced new laws with the objective to make health insurance more user friendly and accessible to all. There are now restrictions on exclusions under a health insurance policy to make it more customer friendly. A draft has been issued by IRDAI that introduces a universal standard health insurance policy that provides a sum insured according to the customer’s requirement, which is in the range of Rs.50,000 to Rs.10 lakh. The minimum age permissible for buying the policy is 18 years and the maximum age is 65 years. This plan has a lifelong renewability option and is indemnity based. The standard insurance plan will also provide insurance coverage for treatments that come under AYUSH, which is Ayurveda, Unani, Siddha, and Homeopathy. Mental health is also to be included under the regular insurance policy. Under the new directive, coverage cannot be denied on the basis of a history of clinical depression, sociopathy, psychopathy, neurodegenerative or personality disorders. Also, all illnesses or health conditions that develop after the policy is issued will be covered under the policy (not including those that are not covered under the policy). Some major illnesses have been added to the list of those that should be provided coverage and these are HIV/AIDs, Parkinson’s, Alzheimer’s, and morbid obesity.

      22 October 2019

    Get Latest News on Health Insurance

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Customer Reviews

    • Star Health Health Insurance
      "Good service"
      0.5 4.5/5 "Excellent!"
      My cousin has told that the claim experience from STAR HEALTH was good and he got about 97% amount. I have taken insurance on 2 years before. Yearly use to pay of 12K. Before I was paying premium amount of 10K now they have increased depends on the age. It covers whole family. They have tied up with many hospitals. So far I have not done any claim.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2020
    • Royal Sundaram
      Royal Sundaram Health Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a health insurance in ROYAL SUNDARAM and the policy coverage value of Rs. 5L. I am paying premium in the yearly package. While getting a policy they given an information about the policy details. They have tied up with all network hospitals and also they cover all critical illness and day care treatment. This is a Tax Benefit policy covers under 80D.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2020
    • Religare Health Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I have taken a health insurance from RELIGARE HEALTH. I got this offer when I had applied a credit card with RBL bank. Yearly use to pay of 7K around. They have tied up with particular hospitals. The agent has provided terms and condition. There is no option of cashless treatment. It covers my whole family. No claim experience yet.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 18, 2020
    • Religare Health Insurance
      "Good Insurance policy"
      0.5 5.0/5 "Blown Away!"
      From my company, they have provided me a health insurance from Religare and its a group insurance policy but my family consists of 4 members included in this policy with the coverage value of Rs. 5 lakhs. I don't have any claim experience. I have not gone through the hospital list but they have provided me a health insurance card.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 17, 2020
    • Star Health Health Insurance
      "Good Insurer"
      0.5 5.0/5 "Blown Away!"
      For my personal use, I had taken a health insurance from STAR HEALTH on 2.5 years back. Yearly I use to pay amount of 10,100 rupees with GST. They have tied up with many hospitals. Sum assured of 10L. It covers myself and spouse. It is useful for Tax benefit.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2020
    • United India Health Insurance
      "Emergency policy"
      0.5 5.0/5 "Blown Away!"
      From my company side, they have offered me a health insurance from United health care. I have done a claim twice and the experience was good. My family consist of 3 members included in this policy. They have approved my claim within 3 days. On their website, i had applied my claim. They gave me a claim upto 90%. I would say health insurance policy is very much helpful when a person doesn't have money by just providing the insurance card number and employee id.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 16, 2020
    • United India Health Insurance
      "Nice and genuine company which provides claim on time"
      0.5 4.0/5 "Great!"
      Its because of the agent recommendation, i have taken the health insurance from United India. I have been paying the premium amount of Rs. 18000 per year. My full family has covered in this policy. I have a claim experience too and they are providing the cashless facility on hospital even reimbursement was carried out on time.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jan 16, 2020
    • Oriental Insurance Health Insurance
      "Yet to experience the policy"
      0.5 4.0/5 "Great!"
      From my office, they have provided me a health insurance from Oriental but i never utilized the policy till now. My entire family has been covered on this policy. I got the coverage value of Rs. 4 lakhs and the network of hospital list is good. I never get any situation to contact their customer care service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2020
    • ICICI Lombard Health Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      From my company, they have provided me a health insurance from ICICI Lombard. I do have a claim experience and I'm satisfied with it because it was a cashless treatment. My entire family has been covered in this policy. I'm not aware of the coverage amount and i have not called their customer care service till now.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 16, 2020
    • Bajaj Allianz Health Insurance
      "Average Policy"
      0.5 5.0/5 "Blown Away!"
      Recently i have chosen the health insurance from Bajaj Allianz because most of the hospitals are having this policy. I pay the premium amount of Rs. 1000 on a yearly basis with the coverage amount of Rs. 1 lakh. I have received a phone call from that they have explained me about the policy details. I have sent my documents through mail and i made the payment through auto debit option.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 16, 2020
    • Star Health Health Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Health insurance from Star health before 8 years as there have more network hospitals for cashless treatment in my area. I am paying Rs.18,000 as the annual premium through online. Total coverage is 4 lakhs for my family. I will get notification regarding the payments. I have opted for cashless treatment it cover complete bill amount except the disposable product.
      Was this review helpful? 1
      , kochi
      Reviewed on Jan 13, 2020
    • Star Health Health Insurance
      "Not Good Experience"
      0.5 0.5/5 "Unacceptable"
      Have applied for Family plan & honestly informed then 3 moths before my boy was admitted for 2 days for viral infection and provided doctor medical fitness certificate, but they denied policy claim. Please go for other customer friendly policy.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 11, 2020
    Common Loader Icon
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.