| Rising medical costs and life expectancy are seen attracting a lot of players to the Indian health insurance sector, even as a high claims ratio remains a concern, industry experts said on Friday. As many as three to four firms are keen to launch standalone health insurance companies if they find an Indian partner, said C.S. Rao, chairman of Insurance Regulatory and Development Authority (IRDA), the country's insurance regulator. Under current Indian regulations, foreign firms cannot own more than 26 percent in an Indian insurance company. "We have a mandate to encourage health insurance," Rao said on the sidelines of an industry conference. Last year, DKV, a unit of German reinsurer Munich Re, formed a health insurance joint venture in India with Apollo Hospitals group, whose flagship is Apollo Hospitals Enterprise Ltd. The total premium collection in health insurance was around 40 billion rupees in 2007, up from around 6 billion rupees in 2003, Rao said adding premium collection is expected to rise by half during the current year. Despite a penetration of just 2-3 percent, health insurance accounts for about 16 percent of the industry's total premium collection, Rao added. "Health insurance is required on a long-term basis because people are living longer. They require medical attention over a longer period and medical expenses are also going up," he said. Currently, Indian life insurance companies provide health cover as an add-on to their existing policies while non-life insurance companies provide it as part of their overall bouquet of general insurance products.India has 18 life and non-life insurance companies each and one reinsurance firm, according the IRDA Web site. At 4.8 percent, the country's overall insurance penetration is one of the lowest in Asia. While interest in health insurance is building up, the sector is dogged by high claims, with the claims ratio as high as 120 percent, Rao said. The insurance regulator plans to take a series of measures including improving underwriting standards to cut down on the high ratio, IRDA director general D.V.S. Sastry said. The regulator also plans to introduce unique identification (ID) numbers for individuals as well as hospitals, which are expected to reduce duplication of claims, Sastry said. |
Monday, August 4, 2008
India health insurance seen rising, but concerns stay
Friday, August 1, 2008
Health Care Insurance
| Health care costs have witnessed a phenomenal rise in the current times, this has led the customers to insure not only themselves but their family members for any future medical expenses and other related requirements. The need to insure assumes even more importance with older generation who are either retired or will be retired in the near future; you will be surprised how much health care expenses can add up to in a year.Types Of Health Care Insurance Available:Medical InsuranceCritical Illness Insurance Leading insurance companies are coming out with new plans to meet the requirements of their customers, health care insurance plans especially target customers in the higher age group. It is necessary for younger people to start planning for their future after they retire, at an early age, so as to lead a financially stable life in later years.List of Some of Indurance Companies offering Health Care Insurance:ICICI Loambard - Health PlansBajaj Allianz - Health Guard |
Global Launch of Apollo Health City in Hyderabad
| Apollo Hospitals Group recently announced the first functional health city in Asia, Apollo Health City, Hyderabad. The Apollo Health City, Hyderabad was formally launched by the Chief Minister of Andhra Pradesh, Dr YS Rajashekar Reddy. Spread across 33 acres, Apollo Health City, Hyderabad is an integrated healthcare system offering solutions across the healthcare space. Going beyond the realm of curative care Apollo Health City, Hyderabad offers the entire spectrum of services including education, research, information technology, preventive care and holistic medicine. Apollo Health City encompasses a 300-bed multi-specialty with over 50 specialities and super specialities along with 10 centres of excellence.Institutes for heart diseases, cancer, orthopaedics and joint diseases, emergency, renal diseases, neurosciences, eye, minimally invasive surgery, trauma and cosmetic surgery are all centers of excellence and are positioned to offer the best care in the safest manner to every patient. Apollo Health City is equipped with Institute of PG Education for doctors, Nursing School and College, College of Physiotherapy, Institute of Hospital Administration, Institute of Medical Informatics, Institute for Emergency Medicine, Institute for Paramedics along with other training institutions to offer the optimal learning ambience and clinical environment. Research at the Health City is aimed at identifying solutions to the challenges faced by the community and translating these results into clinical care, 'bench to bed'. Apollo Health City has a variety of IT initiatives including medical BPO services for offshore customers (Health Street), online education for medical professionals (Medvarsity) and telemedicine services. Dr Prathap C Reddy, Chairman, Apollo Group of Hospitals, said, "Apollo Health City brings together all the components of healthcare and creates an environment that leverages the best of all forms of medicine.” |
Sunday, July 27, 2008
HEALTH INSURANCE
What is the most coveted possession of any individual? Is it his ability, intelligence, innovation or the single most asset-Health that enables him to use all other that he has. Health is undoubtedly the biggest and most crucial asset of any or every living being. Health encourages efforts, health motivates mind, and health grants you enjoyment. It is the wealth of health that gives the requisite potential to battle all odds and move ahead with life. Naturally, such an essential part of a person’s life needs special care and protection. The ideal way to secure an individual’s prized possession for him and his loved ones is Health Insurance.
Health insurance has the insurer and the insured playing their part like any other insurance. The insured pays premium to protect his health and the insurer is obliged to meet the expenses if the insured falls sick. However, certain diseases are not covered by health insurance which of course will be listed in the insurance document. Medical services, dental expenses, diagnostic expenses, surgeries, disabilities coverage are what are termed together as health insurance. The insurer bears all health expenses as long as the insured renews his policy by paying the premium. In simple, a health insurance policy is for financially assisting a person in case there occurs a setback to his health.
Health insurance has the insurer and the insured playing their part like any other insurance. The insured pays premium to protect his health and the insurer is obliged to meet the expenses if the insured falls sick. However, certain diseases are not covered by health insurance which of course will be listed in the insurance document. Medical services, dental expenses, diagnostic expenses, surgeries, disabilities coverage are what are termed together as health insurance. The insurer bears all health expenses as long as the insured renews his policy by paying the premium. In simple, a health insurance policy is for financially assisting a person in case there occurs a setback to his health.
Sunday, July 20, 2008
Apollo Health Card For Women
HYDERABAD: Marking the Women's Day, Apollo Hospitals has launched WE (Women's Health Empowerment) scheme offering them an exclusive Web site and a health card. Priced at Rs 495, the card allows women to undergo a comprehensive health check, which include tests for blood picture, urine examination, blood sugar, ECG, ultrasound abdomen and bone densitometry.
"Individually these tests cost Rs 3,650," Ms Sangeetha Reddy, Director (Operations) of Apollo Hospitals, said. Addressing a gathering here, Dr Seshagiri Rao, Head (Department of Cardiology), said women were susceptible to heart disease after menopause. Dr Vindya, a senior gynaecologist, said women lost calcium in during the period,said by Apollo In press.
Health Cards For Poor From July
Hyderabad People Gets The Gift of Health Cards :
The Rajiv Arogyasri cards providing free medical treatment worth Rs. 2 lakh under the comprehensive health insurance scheme for white card holders will be issued from July 19 onwards, said the Minister for Minorities Welfare, Coal and Energy Mohd. Ali Shabbir on Wednesday.
The Rajiv Arogyasri cards providing free medical treatment worth Rs. 2 lakh under the comprehensive health insurance scheme for white card holders will be issued from July 19 onwards, said the Minister for Minorities Welfare, Coal and Energy Mohd. Ali Shabbir on Wednesday.
Participating in the Praja Patham programme at Gulshannagar in Musheerabad, he said the scheme was postponed in the twin cities because of bypolls and all the 6.5 lakh white ration card holders in the district would be issued with the health cards.
“With these cards the poor can go to any hospital of their choice to get treatment for chronic diseases of heart, kidneys, cancer and others. Any doctor refusing to treat a patient with the health card will go to jail,” he declared.
People Thanked:
New ration cards would also be issued from July 5 onwards for those yet to get them. Mr. Shabbir said the Government was supplying Rs. 2-a-kilo and from next month, palm oil would be sold at Rs. 45 and red gram at Rs. 30-a-kilo at all ration shops.
He pointed out that the government also did not let the recent hike in diesel and gas affect the consumers by absorbing the Rs. 125 crore “burden”. He and his colleague Mukesh Goud thanked the locals for electing the party candidate T. Manemma during the recent bypoll.
“You have elected our candidate and we are beholden to fulfil all the promises made. While pensions will be given, infrastructure works like roads and sewers will take time,” said Mr. Goud. About 34,834 new pensions for the old, destitute, widows and physically challenged would be given to the eligible persons. This would be in addition to the current 70,000 pensions being given at Rs. 200 a month.
Health Camp:
Collector Navin Mittal said a mega health camp will be held to identify poor people already suffering from different ailments and they too would be given the health cards as a special gesture. The Ministers laid the foundation stone for a new water pipeline at a cost of Rs. 12 lakh.
Around 250 households would get water once the project is completed in a month. MLA T. Manemma and Greater Congress chief D. Nagender, were present.
Health Cards Launched In Hyderabad
Yashoda Hospital introduces health card:
Chief Minister N.Chandrababu Naidu launched the city based Yashoda Hospital’s health card here recently. Speaking on the launch, Naidu said the card would be advantageous to the middle class and lower section of the people.
The chief minister stressed that unless private corporate and super specialty hospitals co-operate with the government, it would be impossible to ensure better healthcare service to the common man.Naidu informed that the government had decided to privatise sanitation in all teaching hospitals and hospitals under AP Vidya Vidhana Parishad.
Regarding teaching hospitals, a pilot scheme had already been commenced in another city based hospital, Niloufer hospitals, he said. The Yashoda health card is valid for three years and would be issued against a membership fee of Rs 5,000.
At the end of the term, the membership fee would either be refunded or renewed as per the member’s choice.
A member, along with three members of his/her family is entitled to 50 per cent discount on all diagnosis - outpatient and in-patient, 25 per cent discount on room tariff and theatre charges, 25 per cent discount on doctor’s fees and free ambulance service for in-patient within the twin cities.
Briefing the press persons about the card, Dr G S Rao, executive director, Yashoda hospital, said that for the patients who come from other districts of the state in critical conditions, this scheme would be of immense help.
The Yashoda hospital was presently concentrating on providing better healthcare and would come up with new branches in various parts of the state in the near future, Rao said. He said that the application forms for health card were available at Yashoda superspecialty hospital, Somajiguda and Malakpet and all branches of Andhra Bank in the twin cities.
The enrollment would begin from September 10, 2001 and continue till October 10,2001. The hospital plans to have a limited enrollment for the cards.
Chief Minister N.Chandrababu Naidu launched the city based Yashoda Hospital’s health card here recently. Speaking on the launch, Naidu said the card would be advantageous to the middle class and lower section of the people.
The chief minister stressed that unless private corporate and super specialty hospitals co-operate with the government, it would be impossible to ensure better healthcare service to the common man.Naidu informed that the government had decided to privatise sanitation in all teaching hospitals and hospitals under AP Vidya Vidhana Parishad.
Regarding teaching hospitals, a pilot scheme had already been commenced in another city based hospital, Niloufer hospitals, he said. The Yashoda health card is valid for three years and would be issued against a membership fee of Rs 5,000.
At the end of the term, the membership fee would either be refunded or renewed as per the member’s choice.
A member, along with three members of his/her family is entitled to 50 per cent discount on all diagnosis - outpatient and in-patient, 25 per cent discount on room tariff and theatre charges, 25 per cent discount on doctor’s fees and free ambulance service for in-patient within the twin cities.
Briefing the press persons about the card, Dr G S Rao, executive director, Yashoda hospital, said that for the patients who come from other districts of the state in critical conditions, this scheme would be of immense help.
The Yashoda hospital was presently concentrating on providing better healthcare and would come up with new branches in various parts of the state in the near future, Rao said. He said that the application forms for health card were available at Yashoda superspecialty hospital, Somajiguda and Malakpet and all branches of Andhra Bank in the twin cities.
The enrollment would begin from September 10, 2001 and continue till October 10,2001. The hospital plans to have a limited enrollment for the cards.
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