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Mahavir Chopra / Beshak.org Profile picture
@themahavir
Apr 22, 2020 • 3 tweets • 1 min read • Read on X
Additional #Covid_19 relief by IRDAI.

A recent circular will let insurers offer relief to customers by allowing payment of health insurance premiums in monthly/quarterly installments.

The relief is applicable for all policies due for renewal until Mar 2021.

#COVID2019india
Insurers will roll out the process to take benefit of these options soon on their websites.
It could be surprising for a few, but Health insurance premiums can be really high - as high as a lakh a year.
Especially if you are covering senior citizen parents.

This relief will be really helpful to many!

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More from @themahavir

Mahavir Chopra / Beshak.org Profile picture
Mar 7
A thread on employer health insurance!

Every year HR sends an "insurance" email most ignore.

You shouldn't.
The email usually has a deck that covers:

• The benefits you are entitled to.
• The process to enrol family members.
• The process to enrol and pay for parents’ covers and top up covers.
• The terms and conditions - which are a lot, believe me (this is ignored the most!)
Employer health insurance benefits are smoooooth!

👉 It is easy to enroll.
👉 It covers maternity benefits.
👉 It covers pre-existing diseases, damn it!
👉 It is even easy to claim.
Read 18 tweets
Mahavir Chopra / Beshak.org Profile picture
Mar 1
~70% of health insurance customers I meet are unaware of their rights.

Know your 12 essential rights as a health insurance consumer 👇👇

💾 Save for later.
↗️ Share to spread the word.
🗨️ Let me know how many were you already aware off?
1/ Right to lifelong renewability

Your health insurance cannot be denied renewal due to age or past claims.

An insurer can deny renewal only if:
• You committed fraud or misrepresented fact
• You bought the policy with the intention to make a false claim
2/ Right to portability

You don’t have to remain stuck with an insurer if you’re unhappy.

You can switch to another insurer and carry forward all your waiting period credits.

But note, Porting is not guaranteed. The new insurer can reject your application based on your profile, medical history etc.

Tip: Always disclose your medical history truthfully.
Read 17 tweets
Mahavir Chopra / Beshak.org Profile picture
Oct 11, 2024
Patient hospitalized for 6 days
Insurer pays for 2 days - says no "active treatment" after 2nd day.

Doctor shares logic for the 6-day treatment.
Insurer still disagrees.

Should patients consult insurers before taking medical decisions?
Why do patients suffer for lack of medical regulations?Image
First, let's understand why this happens.

So, health insurance as per the contract will pay only in case when the hospitalization is
a) "Necessary" and
b) " requires active treatment"
Ok - so what is "Necessary" treatment?

It is when patient can only be treated at a hospital and not at home or in OPD.

For instance, say I meet with an accident, and break my hand.
Now, the doctor needs to apply plaster on my hand.
But say the doctor asks me to get hospitalized for a day - This won't be covered under health insurance.
Read 9 tweets
Mahavir Chopra / Beshak.org Profile picture
Aug 30, 2024
Health Insurance cos hiking premiums. Again!

Star Health: 10-15%
HDFC Ergo: 9-12%
New India: 10%

🧵 Thread
⦿ Why is the premium rising?
⦿ How do you deal with it?
⦿ Should you drop and invest the money instead? Image
1st things 1st: Health insurance premiums aren’t fixed.

Insurers can hike premiums whenever they find it necessary — not just for one person, but for an entire portfolio of customers.

And now, for some time, they can do it without regulatory approval 😬.
When do premiums rise?

Besides age, here are 4 key reasons 👇🏻👇🏻👇🏻👇🏻
Read 14 tweets
Mahavir Chopra / Beshak.org Profile picture
Aug 21, 2024
"What if I skip Health Insurance and build a fund to cover my family’s healthcare."

Fine print + claim hassles have forced all of us to think in this line.

Before you go down that road, here’s a thread on what you need to know
👇🏻👇🏻
Health insurance, despite its flaws, offers some powerful benefits that you should understand before taking such calls.

Let’s break down these powerful benefits of health insurance:
⦿ Lifetime Hospitalization Cover

Once you clear the initial waiting periods, health insurance can practically cover all your hospitalization costs for a lifetime — yours and your family’s.

Regulation does not allow insurers to stop coverage, unless they prove a fraud.
Read 13 tweets
Mahavir Chopra / Beshak.org Profile picture
Jul 6, 2024
92% health insurance agents don't know basics.

How to find a good agent?

Thread 👇🏻

Will cover:
⦿ Why find a good insurance agent?
⦿ How to find a good insurance agent?
⦿ Where did the 92% number come from?
⦿ Questions to ask
Insurance is a complicated product when buying, and more importantly when making a claim.

Not following right processes, making accurate declarations when buying, is one of the biggest reasons why claims get rejected.
That's not it.

Claims processes, paperwork is complicated too.

Most of us would rather attend their ill family member, than follow up on toll-free numbers.
Read 15 tweets

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