Page 12 - Insurance Times April 2017 Special Issue on Newindia
P. 12
Health Insurance
Group health insurance Only few insurers provide women centric products
premium to see a rise Rarely does a company provide women more women-specific but the differen-
centric health products with additional tiation is in terms of features, and not
Group health insurance premiums
may rise as features. Mostly the pricing," he says.
IRDAI in- cover is available via Another CI plan with
vestigates floater policy. However, unique features is Tata
Bajaj Allianz General In-
disclosure AIG's Well assurance,
to end surance has a woman- which offers a propor-
specific critical illness (CI)
subsidisation tion of the premium for
by lone payers. The increasing cost of plan that covers con- reconstruction. Aditya
medical insurance had obligated com- genital defects of the Birla Health Insurance
panies to surge premiums in group child, usually not cov- offers a cheaper pre-
health insurance policies to make the ered by a normal CI mium for women policy-
business viable in the past few years. policy. "The premium is comparable, holders in indemnity-based plans. The
This includes introduction of considering it provides additional ben- company has based it on international
copayment terms on claims and pre- efits," says Dhruv Sarin, head of health differential of incidence of illness.
miums and a cap on acquisition costs. insurance, Policybazaar.com. "Single- Aegon offers a women CI rider that
Some large insurance companies have payment CI plans do have different covers pregnancy complications and
increased premiums on group health premiums for men and women. women-related organ cancers like
by 10-50%, depending on their expe- A CI plan will typically be cheaper for uterus, ovaries, etc. It also offers cov-
rience with the account. women than for men, because the risk erage for a housewife up to Rs 1 crore,
perception is different. Companies like or up to 50 per cent of the husband's
CallHealth to expand Bajaj Allianz offers CI plans that are sum assured.
and raise Rs. 200 crore
CallHealth is on an expansion mode Cap on stents price is good
and plans to raise Rs. 200 crore from The slash in stents price by the National Pharmaceutical Pricing Authority (NPPA)
private equity players, its Chief Ex- is not only benefitting for the patients but also the
ecutive Officer Hari Thalapalli told. health insurers. The NPPA had in February rolled out
CallHealth is a healthcare service new prices of stents which were Rs 7,260 for bare
provider based in Hyderabad. metal stent and Rs 26,600 for drug-coated one. The
price was in the range of Rs 45,000 to Rs 1.21 lakh
"At present, we are servicing 12,000
customers a month and adding before the imposition of the cap.
about 630 new customers every day "The move would result in reduction of around 25-30 per cent in total proce-
besides receiving 2,500 calls. Our dure cost. As hospitals will now have to separately bill the cost of stent, it will
next destination will be Delhi, fol- bring in transparency in pricing. However, the exact impact on the quantum of
lowed by Chennai, Bengaluru and claims outgo is difficult to ascertain immediately'', Abhijeet Ghosh, Head, Health
Mumbai," Thalapalli said. Insurance, Bajaj Allianz General Insurance, told.
12 The Insurance Times, April 2017
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