Get to know about the tax implications of group health insurance

If you are a part of a group and the group has opted for the group health insurance scheme; you should know of the tax implications and benefit of the same. A group health insurance policy is popular amongst registered groups, especially employer-employee groups. This is because of the following reasons – The group health […]

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I am offered an option between choosing a Public Sector (PSU) or a private insurer for my group health insurance. How do I decide? What are the benefits I can enjoy if I choose either type of insurer?

There are unique benefits of choosing either type of insurer. A few private insurers provide faster claim settlements as compared to PSUs. However, PSUs offer GIPSA (General Insurance Public Sector Association) packages through PPN listed hospitals which brings in a greater rationalization of the claims cost structure in billing. Standardized packages and rates safeguard customers […]

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Is it better to have an insurer with a TPA for my group mediclaim, or should one pick an insurer that processes claims in-house i.e. on their own?

Both in-house claim departments and TPAs provide effective processes for health insurance claim settlements. The in-house claim process allows the insurance company to exert better control. This includes easier claims handling and a  lower turn-around time (TAT) for policyholders. TPAs have their own cashless hospital networks which are generally wider than most insurers.    

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How satisfied are customers about their Health Insurance?

The Indian health insurance market is witnessing a rise in demand for more comprehensive and customized health coverage plans. This has led to expansion in the private health insurance products available which has unveiled newer avenues of growth for the insurance industry. In the last ten years, it has grown at a CAGR of 23%, […]

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The Market Landscape in Insuretech

In India, the InsureTech environment is still in its infancy. In comparison to the worldwide average of 6.5%, present insurance penetration in India is relatively low, with 2.76% for life insurance policies and 0.93% for non-life insurance plans. The present InsureTech industry in India is controlled by a handful of new-age insurers such as Digit, […]

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How does the e-claim process work for group health insurance policy?

Insurers required policyholders to submit original claim documents for processing reimbursement claims. Policyholders used to courier claim documents to insurers/ TPAs for processing. However, this has changed since the Covid-19 pandemic hit the world. It has brought down all transportation and logistics to a standstill due to government-imposed lockdown throughout the country. Courier services were […]

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Can you cancel your policy and seek refund during the policy period?

You are allowed to cancel your policy anytime during the policy period provided there is no settled or outstanding claim in the policy. All you need to do is to send a written request to the insurer for cancellation along with the reason for cancellation.   The insurer accepts the following reasons for policy cancellation […]

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How does PPN network work in GMC policy, which insurers provide this?

PPN stands for Preferred Provider Network. It is the network of hospitals that have deeper tie-ups with respective health group insurance companies to provide seamless and cashless claim services to their policyholders. A hospital joins PPN when both the hospital and insurance company synchronize in their approach on how to serve the policyholders. Therefore, the […]

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