Health Insurance Experts Blog

IRDA to issue claims settlement rules for Health Insurance Companies

This is really an excellent piece of news. IRDA, continuing its efforts to protect consumer interests, has announced its decision to issue detailed rules on Claims settlement for Health Insurance Companies. The first draft is expected in April 30, 2012. This announcement is following a recent Bombay High Court order asking IRDA to draft regulations bringing in claim settlement rules . . .

Mediclaim costs may rise as TPAs plan to double charges

TPAs plan to double the service charges Come October 1 and third party administrators (TPA) that service health insurance claims will double the service charges they claim from non-life insurance companies. This may lead to a hike in health insurance premiums if insurers choose to pass it on to consumers. At present, TPA charges 5.25 per cent of the premium paid by policyholders as service fee. This . . .

The Big Fight: Hospitals V/s Insurance Companies V/s TPAs

Purandar Bhavani from Medimanage.com All kinds of news are currently floating in the media and the industry regarding the Cashless Mediclaim. After PSU Insurance Companies taking a stand to stop Cashless at some high ended hospitals in top cities, as a reverse salvo Hospitals in Mumbai have united against Insurance companies and decided to refuse cashless hospitalization. There is always a danger of adverse reactions . . .

TPAs to move Competition Commission against PSU Insurance Cos.

TPAs to move competition panel against PSU insurers The association of third party administrators (TPA) has decided to move the Competition Commission of India (CCI) against the four public sector non-life insurance companies and their association, called General Insurers Public Sector Association of India (Gipsa), for forming a cartel and abusing their dominant market position in planning their own TPA outfit. “The TPA floated by Gipsa companies will . . .

Cashless is a mechanism in health insurance, not the product in itself.

Cashless facility heal thyself Unfortunately, despite the growth and their leading market share, state-owned insurers have not been able to give focused attention to health insurance through the creation of a health insurance division. The grapevine has it that the current imbroglio over cashless is partly because of differences between two senior executives entrusted with health insurance in a leading public sector firm. Instead . . .

Health Insurance Companies to extend cashless facility in emergency and trauma cases

Health Insurance Companies to extend cashless facility in emergency and trauma cases MUMBAI: In a major relief to health insurance policy-holders, public sector insurance companies have announced that cashless treatment will be extended to all hospitals in emergency and trauma cases. During a healthcare meeting with the Confederation of Indian Industries (CII) in New Delhi on Friday, New India Assurance Company chairman M Ramadoss said a patient who requires emergency and . . .

Cashless Chaos: Making Sense of it All

Cashles Chaos: Making sense of it all News Flash:  “The General Insurance Public Sector Association consisting of four major state-run insurance companies - United India, New India, Oriental Insurance and National Insurance have decided to stop cash-less hospitalization in most hospitals” Shock and outrage are the two words that describe the reaction of most of the customers and media reports on this piece of news.  We demanded to . . .

How will Common TPA for PSU Insurers impact consumers and health insurance industry?

Recently, we came across news in an online Publication, in.news.yahoo.com Common TPA to process the health insurance claimsRecently, we came across news in an online Publication, in.news.yahoo.com Chennai, July 11 (IANS) The four government-owned non-life insurers -- National Insurance, New India Assurance, Oriental Insurance and United India Insurance-- will soon be taking forward their idea of floating a common third party administrator (TPA) to process the health insurance claims. 'We will be issuing a Request for Proposal (RFP) shortly. . . .

Health Insurance Claims may get delayed, as I-T dept seal TPA accounts

Recently, we came across news in an online Publication, mydigitalfc.com Health insurance policyholders may face problems as I-T dept seals TPA accountsRecently, we came across news in an online Publication, mydigitalfc.com Several health insurance policyholders may face problems in getting cashless hospitalisation as the income tax department has sealed accounts of several third party intermediaries (TPAs) for non-payment of tax deducted at source (TDS). Industry officials say TPAs whose accounts have been sealed are Mumbai headquartered Pa­ramount Health Services, United Healthcare Services, . . .

Corporate Hospitals criticize withdrawal of cashless service for Mediclaim.

Recently, we came across news in an online Publication, business-standard.com Withdrawal of cashless service for Mediclaim.Recently, we came across news in an online Publication, business-standard.com The decision by public sector health insurance companies to deny cashless services to their clients has been criticised by Fortis, a leading corporate healthcare chain. Chains such as Fortis generate a significant portion of their revenue through health insurance policy reimbursements. The Federation of Indian Chambers of Commerce and Industry was also critical. . . .

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