Mahavir Chopra / Beshak.org Profile picture
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

Jul 6
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
May 30
🚨🚨 Important changes in Health Insurance.

IRDAI released a master circular today.

Most of the changes are applicable from immediate effect - unless there is a specific target date mentioned for the change.

Thread time 👇🏻 Image
INCLUSIVENESS:
IRDAI has asked insurers to make available products for
1. All age groups
2. People with medical conditions, including chronic.
3. All types of treatment - including OPD!!
4. All occupations, regions, categories. Image
All kinds of hospitals including affordable ones.
No denial of coverage in case of emergency situations. Image
Read 19 tweets
Apr 24
News going around: "Now people above 65 can buy health insurance."

This is MISLEADING & NOT true.

🧵 Image
EARLIER: Health Insurance regulations had a minimum maximum-entry-age limit of 65 years.

Which meant insurers were required to design all health insurance plans to be open for people at least up to 65 years of age. Image
This age limit has now been removed, with effect from 1st April 2024.
Read 11 tweets
Apr 11
🚨 Good news: Important updates in Health Insurance.

IRDAI made some changes in health insurance, through their recently released regulations.

These come in force from 1st April 2024.

Thread 🧵👇🏻 Image
Change in definition of Pre-existing disease.

Earlier pre-existing disease was any disease, condition that was diagnosed, treated or medical advice seeked in the last 48 months.

It has been changed to 36 months. Image
This means diseases that were diagnosed and completely cured 36 months before commencement of the policy, would not have a waiting period.
Read 15 tweets
Jan 27
💡Interesting benefit launched across all health insurance plans

💎 CASHLESS EVERYWHERE

Get cashless in ALL HOSPITALS in the country.

I cover:
🤔 What is cashless everywhere
🤷🏻 How to avail this
🙄 How does it work
🤨 What should you expect
🧐 What is the catch

Here we go 👇🏻
On January 24 this year, the General Insurance Council (GIC) announced Cashless everywhere.

Who is GIC?
GIC is the apex association of all health and general insurance companies.

So basically, all insurers came together to bring cashless to all the 40K+ hospitals in India.
Earlier we had to check the hospital network before buying a policy. Whether it did cover our preferred hospitals.

This will soon be a thing of the past (if things go right - more below)

You will essentially get cashless in every legit hospital in India.
Read 14 tweets
Dec 14, 2023
🚫 Insurer: "Claim rejected. Hospitalization not necessary"
🧑🏻‍⚕️ Doctor: Hospitalization is necessary

Customer: Confused, annoyed 😡🤬

This has become very very common.

Let's understand:
- Why does this happen?
- How can insurers dispute doctor's advice?
- What should you do?
First, why does this conflict happen:

To make sense of this, we need to understand the incentives of both the parties involved.
Insurers save money when they decline a claim (The type of rejections I am seeing, it looks like there is an incentive to reject)

On the other hand, have heard doctors can have targets to increase billing + they get a referral fee for surgeries.

**Interests are conflicting**
Read 26 tweets

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