Hopes are high for affordable treatment in private hospitals, the government has told insurance companies and hospitals this.

Health insurance coverage in the country remains low. The government wants to bring more people under health insurance coverage. To achieve this, it is essential to reduce the cost of health insurance. The Finance Ministry has urged insurance companies and hospitals to reduce the cost of health insurance. Furthermore, all stakeholders should work together to ensure affordable and accessible healthcare for policyholders. Transparency and efficiency are also essential for this.

A Finance Ministry statement said that M. Nagaraju, Secretary, Department of Financial Services, held a meeting with representatives from major insurance companies, hospitals, the General Insurance Council, and the Association of Healthcare Providers (India). The meeting discussed the issue of medical inflation and rising insurance premiums.

Affordable and Accessible Services
The Secretary advised insurance companies and hospitals to adopt specific measures. These include establishing fixed treatment rules, maintaining uniform hospital selection rules, and simplifying the cashless claim process. All of this will help reduce the cost of health insurance. The statement also stated that hospitals and insurance companies should work together. This will make healthcare affordable and easily available to policyholders. It will also bring transparency and efficiency to the entire process.

In January, the Insurance Regulatory and Development Authority of India (IRDAI) took a major decision. It prohibited insurance companies from increasing premiums by more than 10% for policyholders aged 60 years or older. They must obtain IRDAI's approval before doing so. IRDAI made this rule because it became aware that premiums for some health insurance products were being significantly increased for senior citizens. It also found that these individuals were facing the most difficulties due to the increased premiums.

Disclaimer: This content has been sourced and edited from Navbharat Times. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.