I am a 32-year-old female who is looking to secure additional maternity coverage. Unfortunately, my current insurance plan, HDFC Optima Restore, does not include this coverage. My corporate insurance policy has a limit of Rs 50-75,000 depending on the type of delivery, and my husband, who is 30 years old, is in the process of … Read more
Budget expectations: The upcoming Union Budget for 2025, scheduled to be announced on February 1, is anticipated to bring forth reforms to bolster the expansion and reach of the insurance industry in India. Given the sector’s upward trajectory in recent times, industry experts are optimistic about initiatives that could promote financial inclusivity and stability. Insurers … Read more
The Odisha state government, under the leadership of the Bharatiya Janta Party, has introduced a scheme to provide a monthly pension of Rs 20,000 to individuals who were detained during the Emergency period between 1975 and 1977. This pension will also cover medical expenses for eligible recipients who are still alive as of January 1, … Read more
Budget expectations: Finance Minister Nirmala Sitharaman is set to unveil the Union Budget on February 1, 2025, a highly anticipated event for taxpayers nationwide. The segment on income tax is of particular interest, as individuals eagerly await any potential changes that could offer relief. Speculation for this year’s budget centers around possible modifications to tax … Read more
Health insurance claims: A survey conducted by LocalCircles found that over 50% of health insurance policyholders who submitted claims in the last three years experienced either rejection or partial approval. Of the policyholders surveyed who filed a claim within the same timeframe, six in 10 reported that it took between six and 48 hours for their … Read more
Insurance claims: Insurance companies in India denied 11% of health insurance claims and had 6% of claims pending as of March 2024, a report by the Insurance Regulatory Authority of India (IRDAI) stated. The report highlighted that health policy claims amounting to Rs 26,000 crore were disallowed and repudiated by insurance companies during the year … Read more
The decision to reduce tax rates on life and health insurance premiums was postponed by the GST Council during their 55th meeting on Saturday. Officials stated that additional technical details needed to be addressed, and therefore, the Group of Ministers (GoM) was assigned the task of further discussions. Bihar Deputy Chief Minister Samrat Chaudhary emphasized … Read more
Finance Minister Nirmala Sitharaman said that the cost of insurance for policyholders is expected to decrease if the GST Council recommends reducing the GST rate on health and life insurance policies. In a written response in the Lok Sabha on December 2, Sitharaman mentioned that during its meeting on September 9, the GST Council had … Read more
The Central government, under the leadership of Prime Minister Narendra Modi, has extended the coverage of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY) to include senior citizens above the age of 70. These beneficiaries will now receive an additional Rs 5 lakh in health insurance coverage. The government has also made PM-JAY available … Read more
Drugs like Wegovy may trim your waistline but not medical costs, according to an analysis of U.S. health insurance claims shared with Reuters. The full-year cost of care for U.S. patients with obesity two years after starting on Novo Nordisk’s Wegovy or similar GLP-1 drugs was $18,507, on average. That represents a 46% jump over … Read more