News From Press The dice is loaded against those buying health insurance in India

The dice is loaded against those buying health insurance in India

Source: Livemint Oct 9, 2018

Both anecdotes and data seem to suggest that Indian health insurance polices that are bought by us as individuals don’t pay up as much as they should. As we listen to the stories of our friends and family about the run around given by hospitals and medical insurance firms to pay up claims of a hospital bill, we quietly send up a prayer—please let me not be the one whose claim is rejected if I ever need to use my policy. There is increasing distrust in the medical insurance market for privately bought covers. Covers bought by corporations, called group covers, seem to have less problems of claims getting rejected.

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1 Comment

Dr. Suraj Srinivasan · 5 years ago `

This is absolutely true from my own experience. I have had both employer provided health insurance and have taken health insurance on my own (when I became a consultant and advisor) at different times.

It may be due to the fact that group health insurance has a wider cover than individual. While the depth varies based on premium paid, the width (range and types of conditions covered) seems to be more liberal in group policies in general. This may create the higher rejection ratio in personal policies, as the insurance provider puts in various clauses that enable them to reject more claims in personal policies.

They should display their claim ratio separately for group and personal policies, so individuals can take informed decisions regarding their provider.

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