Health Insurance Portfolio – An Analysis

Few years back we were very enthusiastic about the growth of Health Insurance portfolio. This was especially true during 2007-08, when this portfolio grew from Rs 3210 Cr to Rs 5110 Cr. i.e by 59.20%. Let us look at the growth figures from 2006 to 2012:% Growth of Health Insurance over the YearsWe have drawn graph showing the % growth YOY and, it shows that figure is fluctuating and is becoming less and less attractive as years have passed by.Graph...

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Is compulsory Co Payment of 20% in Group Health Insurance Policy a solution?

We understand that for controlling the losses of Health Insurance portfolio a circular has been issued by Ministry Of Finance to 4 PSU’s namelyNewNationalOrientalUnitedThis circular has many guidelines out of which few guidelines are such, which are to be strictly followed:-(i)     Co-payment (20%) shall be made compulsory in every Group Health Policy.Let us see the implicationEmployer- Should it pay this Co payment as and when any member of Group Health Insurance Policy undergoes hospitalization and lodges claims to the insurance...

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Your comments are invited by IRDA on draft Health Insurance Regulations 2012

Health Insurance emerged as an important segment of Indian Insurance Industry as a result of that various initiatives were taken by the following: IRDA Regulations Health Companies with a view to consolidate various guidelines circulars/ instructions the reputation has released.IRDA’s exposure draft on Insurance Regulatory and Development Authority (Health Insurance) Regulations 2012This is a serious attempt to put various points in one document. Selected Points are:• The IRDA (Policyholder Protection of Interest) Regulations, 2002 (hereinafter...

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Health care costs can definitely be reduced by using Generic Medicines Vs Branded Medicines

Various People have been discussing about inflation as well as increase in Health care costs in the country and how it is resulting in more and more families getting into debt trap. The statement of our Health Minister Mr. Ghulam Nabi Azad that every year more than 3.50 crores families get into below the poverty line is an eye opener.Aamir Khan also realized this as a major social and economic problem of Indian society and has covered this in his...

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