@Today(04.12.2024) Sri Tejaswi Surya spoke in the Parliament on the Non/Partial settlement of health claims by Private Insurance Companies.
🎯Finer points
@The Insurance Brokers Association of India (IBAI) reported that in 2023, New India Assurance led the health insurance sector with a claims settlement ratio of 98.74%. Oriental Insurance, another state-owned general insurer, followed with a payout of 97.35%.
@However, 10 out of 15 Private insurers had a claims paid ratio of less than 80%, meaning that the remaining balance was paid by the patients themselves.
@3 out of 15 Private Health Insurers only have settled more than 75% of Claimed amount
@Some private Insurance Companies have settled less than 60% of Claimed amount
He stated that this is sorry state of Affairs of claims settlement by Private Insurance Companies.He requested the FM to intervene and ensure the full settlement of health claims of people.
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