Health Insurance Rule Changes

Health insurance premiums have been rising as established by LocalCircles survey itself.

https://www.localcircles.com/a/press/page/health-insurance-premium-increase

Irdai has made below changes effective april 1 and we must raise the premium issue with them. What are the other issues?

1. Pre-existing disease definition reduced from 48 to 36 mths
2. Maximum Pre-existing waiting period, reduced from 48 to 36 mths
3. Maximum waiting period on specified diseases from 48 to 36 mths.
4. Moratorium reduced from 96 mths to 60 mths more  

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I am a senior citizen and when i was working in the company they had insured us with oriental medical insurance and after retirement i continued with the same company since they will have a record /history of the ailments and also I understand that I had taken a new policy at a lower rate for the first five years even though i have taken a policy the company will not entertain any of my ailments if it develops saying that it was a pre existing one and this will not reflect in the new company hence continued with the older company and hence continued with the same one.Every year the amount has been increasing.Govt need to address this immediately more  
This is expected as more and more people fall sick and claim insurance. Insurance premiums will increase. You should learn how insurance works. They take for example 500 rupees from a fixed number of people like 2000 They get 1000000 in hand for claims after deducting their expensese. So they do a calculation based on hospital visits that out of these 2000 only 100 might fall sick and claim average of 10000 rupees so that is how they charge their premuim. Now if instead of 100 200 people will fall sick then they will simply double the premium. They have no other choice. They also there to make profit. The solution is to lead a healthy lifestyle Preferably a Whole food Plant based lifestyle less people fall sick then premiums will be less as then only people with emergencies like accidents will be claiming insurance. I would suggest that insurance companies charge those who lead a healthy lifestyle less premium and charge higher for those who eat unhealthy and don't exercise. more  
I totally agree with the views of Mr. Ramesh Mital. more  
A must add a condition that "Any individual buy a Travel cum medical Policy if individual on tourism to out of country with limited time & money in USD in hand. INSURANCE COMPANY MUST PROVIDE CREDIT FACILITY PARTICULARLY FOR MEDICAL NEED IF ARISES. Being limited money in hand & also faced language barrier, which may not be sufficient for medical Dr consultation, Medical test & pharmacy expenditure. At present such Insurance companies follow this practise that on return back home in India "One can re-imburse expenditure duly supported by document related to medical facility Availed out of Country. On any ground Insurance company try to avoid payment on any ground which may not be possible. Hence one lost the advantage of purchase the Insurance Policy. Or may be cut in claim amount due to reason beyond policy holder & change in USD & Rupee value Please raise this issue at proper plateform & get this medical credit facility condition written on Policy Document. I am the victim of such experience. Thanks & Regds more  
Yes, this was visibly increased after Covid. That add only in sufferings of consumers. No one raised voice against such practices. Govt. is silent and encouraging private players. more  
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