Taking the health insurance segment to a new level, general and health insurance companies have decided to offer 100 per cent cashless treatment across the country from January 25. The step, initiated by the Insurance Regulatory and Development Authority of India (IRDAI), is expected to boost insurance penetration in the country and ease the claims process of policyholders and hospitals, thus avoiding delays and disputes normally seen in the reimbursement mode.
Under the ‘Cashless Everywhere’ system, the policyholder can get treated in any hospital they choose without paying any amount, and a cashless facility will be available even if this…
Mumbai: Health insurance penetration in India has been growing at a sluggish pace despite the high growth of 22% in premium numbers. The number of lives covered under individual policies in March 2023 grew 2.5% to 528.9 lakh — lower than March 2021 levels.Overall, the number of lives covered under health insurance, including the group business, has increased 5.7% in FY23 from FY24. However, the health premium collected by the insurance industry has increased 22% to Rs 89,492 crore from Rs 73,052 crore in March 2022 .The sharp rise in health insurance premiums without a corresponding increase in the number…
Galaxy Health and Allied Insurance Company received approval from the Insurance Regulatory and Development Authority of India (Irdai) on Friday to commence health insurance business in India.
During the 125th meeting held on 19 March 2024, the insurance regulator granted approval to the company. Following this approval, the number of Standalone Health Insurers (SAHIs) in India will increase to seven from the existing six.
This is the second standalone health insurer to gain IRDAI approval in 2024. Narayana Hospitals backed Narayana Health Insurance Company received approval from the insurance regulator in January 2024.
The company was launched by V Jagannathan,…
Medi-Cal health coverage kicked in for Antonio Abundis just when the custodian needed it most.
Shortly after Abundis transitioned from limited to full-scope coverage in 2022 under California’s expansion of Medi-Cal to older residents without legal immigration status, he was diagnosed with leukemia, a cancer affecting the blood cells. The soft-spoken father of three took the news in stride as his doctor said his blood test suggested his cancer wasn’t advanced. His next steps were to get more tests and formulate a treatment plan with a cancer team at Epic Care in Emeryville. But all of that was derailed when…
General and health insurance companies have decided to opt for ‘cashless’ treatment under health insurance policies across the country from Thursday.
Under the ‘Cashless Everywhere’ system, the policyholder can get treated in any hospital they choose, and a cashless facility will be available even if such a hospital is not in the network of the insurance company. This means the policyholder can get admitted to a hospital without paying any money and insurance companies will pay the bill on the discharge day.…
Australian patients are being shortchanged by private health insurance companies, which are collecting significantly larger profits while returning a smaller proportion of premiums to customers.
This week we released our 2023 Private Health Insurance Report Card, which shows the rebates for identical procedures still vary wildly between insurers.
In a media statement, AMA President Professor Steve Robson encouraged consumers to carefully consider which private health insurance option is best for them, with a focus on products that deliver treatment they are most likely to need in the future.
“Our report card highlights the importance for consumers to look closely at…
Heather Howard (left) and Gillian Tisdale
The Affordable Care Act, commonly known as “Obamacare,” was enacted 14 years ago this week. This landmark legislation made sweeping changes to improve access to and quality of health coverage: It expanded Medicaid, established marketplaces for consumers to easily shop for health insurance, banned insurers from discriminating against people with preexisting conditions, created subsidies for middle-class Americans and required most insurance plans to cover essential health benefits including preventive services, mental health and maternity care.
It was controversial on its passage, but the ACA has proven itself resilient over the past 14 years, and…
As January 16 coverage deadline approaches, Biden-Harris Administration continues to encourage Americans to sign up for quality, affordable health care coverage
ACA Marketplace National Enrollment Snapshot
Under the Biden-Harris Administration, the U.S. Department of Health and Human Services announced today that over 20 million people have selected an Affordable Care Act (ACA) Health Insurance Marketplace plan since the 2024 Marketplace Open Enrollment Period launched on November 1 — a record number of enrollments.
Today’s data represents activity through December 23 (Week 8) for the 32 states using HealthCare.gov and for the 18 states and the District of Columbia with State-based…