IRDA given health insurance memorandum by Moneylife Foundation

Health insurance is a cause of concern for everyone. There are several issues that need regulatory intervention and direction. IRDA has been handed over a memorandum by Moneylife Foundation highlighting the actions for each consumer concerns
The Insurance Regulatory and Development Authority (IRDA) have the task of protecting policyholders and has initiated several steps in this direction. There is always scope for improvement and hence Moneylife foundation decided to meet number of activists, experts, eminent citizens and citizens groups to get their feedback. The issues along with required actions were put in memorandum and given to IRDA on 10 May 2012.

Among the more common issues that citizens face are rising health insurance premium, senior citizens' inability to increase sum insured, mediclaim policies getting restrictive with different caps, increase in the number of claim rejections for frivolous reasons, cashless facility restricted to few hospitals, claims based loading even after decades of no-claims from the policyholder, stringent hospitalisation intimation and claims submission deadlines, poor and delayed grievance redressal, several Third Party Administrator (TPA) issues which has harassed policyholders to no end and lack of control on medical charges of hospitals and consultants.

Moneylife Foundation is analysed and collated these issues and put them in a memorandum and given to IRDA. A copy of this memorandum is uploaded here.




nagesh kini

5 years ago

We need to ascertain from Mr. Hari Narayan how he has dealt with our memorandum.


5 years ago

Why cant't we have a standard health insurance policy like RSBY?
Individual requirements could be assessed and underwritten with extras and conditions.Just see, as many as 3 cr plus are insured under RSBY , with standard premium and listed Hospitals & package.Largest good of the largest number could be attained under such mass cover.

DR Aniruddha Malpani

5 years ago

IRDA should make it compulsory for health insurance companies to provide health and patient education to their customers.

This will help their customers remain healthy - and will also ensure their bottom line is healthier !

Health insurance can be much more than just illness insurance ?

We feel patients are the largest untapped healthcare resource and that Information Therapy is Powerful Medicine !

We help patients by
Promoting SelfCare and helping them to do as much for themselves as they can
Helping them with Evidence-Based Guidelines , so that they can ask for the right medical treatment that they need - no more and no less
Helping them with Veto Power, so they can say No to medical care they don’t need, thus preventing overtesting and unnecessary surgery .



In Reply to DR Aniruddha Malpani 5 years ago

Valid points. Preventive health care initiatives are focussed on group plans. Preventive health care initiatives for Individual plans have started, but has a long way to go.


In Reply to raj 5 years ago

IRDA have let down the Sr citizens from health care security, by treating them in a pedestrian way, offering plain vanilla mediclaim policy , in the name of Varistha.
As rightly outlined by Dr Malpani, Varistha could have been designed need based , a package of self care , followed by preventive cum maintenance care for the sr citizens , with top up tertiary care. Elders above 60 are not to be, every time rushed to the hospitals , if a holistic approach , built on home care / preventive care would have been dovetailed in Varistha Policy.
Much of it are detailed in Sastry Committee Report.Sadly, Chairman IRDA, by passed the recommendation and lost an opportunity to do good to the Elders in APL Category , estimated to be above 5 cr.

Bharti AXA Life launches new traditional Life Young India Plan

Bharti AXA Life Young India Plan allows the customer to choose any two important milestones in life for money back and also offers up to 25 times base protection at marriage and child birth

Mumbai: Private insurer Bharti AXA Life Insurance launched its new traditional life insurance plan - Bharti AXA Life Young India Plan, reports PTI.

"Young India Plan is a unique plan targeted at the young adult segment. Espousing the philosophy of customer empowerment, the plan allows the customer to choose any two important milestones in life for money back and also offers up to 25 times base protection at marriage and child birth," Bharti AXA Life managing director and CEO Sandeep Ghosh said in a release.

Through the Bharti AXA Life Young India Plan, the company will let the customers define the points, at which, they want to avail of the benefits of this policy, he added.

Customers will get money back in the form of 'Good Times Money Back' when they ask for it.

 Similarly, they may decide the extent of increase in additional protection during marriage and child birth.


Pawan Hans, NMDC, MMTC among 21 PSUs sans full-time CMDs

Bulk of the companies having top-level vacancies are "not in good financial health and the government is finding difficulty in appointing suitable persons to head these companies

New Delhi: As many as 21 public sector companies including Pawan Hans, National Fertilizer Ltd, NMDC and MMTC are without a full-time Chairman and Managing Director, the Rajya Sabha was informed on Tuesday, reports PTI.

State-owned companies not having a full-time chief executive includes National Hydro-electric Power Corp (NHPC), National Mineral Development Corp (NMDC), Brahmaputra Valley Fertilizer Corp, RITES Ltd, Hindustan Cables Ltd, Chennai Petroleum Corp Ltd (CPCL) and Heavy Engineering Corp Ltd.

Heavy Industries and Public Enterprises Minister Praful Patel said during Question Hour that bulk of the companies having top-level vacancies are "not in good (financial) health ... and (the government) was finding difficulty in appointing suitable persons to head these companies."

Board-level appointments are done through interviews conducted by Public Enterprise Selection Board (PESB). Vigilance clearance of the shortlisted candidate is then taken and the name then forwarded to the Cabinet Committee on Appointments, the final appointing authority.

"There are some delays due to CVC clearance... (which is) beyond control of administrative ministries," he said, adding the process of selection is initiated one year before the vacancy actually arises.

"Of the 21 vacant posts, the recommendations of PESB are already available in respect of 11 posts and are awaiting vigilance clearance/approval of competent authority. The selection progress has already been initiated for filling up remaining 10 posts," he said.

When Rajiv Pratap Rudy (BJP) asked why the government chose to appoint Air India head through a search committee rather than going through PESB, Mr Patel said even candidates selected by search committee have to go through ACC.

Mr Patel, who was the Civil Aviation Minister when the Air India head was appointed through a selection committee in 2007, said his predecessor Mr Rudy too had made appointments through the search committee route. "What was done in the past was also followed by this government," he said.


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