Page 14 - The Insurance Times September 2022

Telangana Governor urges approved a proposal for a primary capi- hospitalisation cost in cases where the
tal infusion of approximately Rs 665 hospital room rent is above Rs 5000 for
insurers to include robotic
crore in ABHI, from a wholly owned non-ICU rooms.
surgeries in health insur- subsidiary of the Abu Dhabi Investment
“Under the new guidelines, a 5% GST
Authority (ADIA). ABHI plans to use
ance will be imposed on hospital room rent
this capital to drive its growth in the
Telangana Governor Dr Tamilisai above Rs 5,000 for non-ICU rooms. This
health insurance market in India.
Soundararajan has requested insur- will result in an overall increase in the
ABHI is a 51:49 joint venture between
ance companies to come forward and hospitalization cost in cases where the
ABCL and Momentum Metropolitan
include all the robotic surgeries and per day room opted is higher than Rs
Strategic Investments (Pty) Ltd, a
approve them. Even the government 5,000,” Dr Sudha Reddy, Head – Health
wholly owned subsidiary of South Afri-
insurance schemes should include the and Travel at Digit Insurance, told FE.
can based Momentum Metropolitan
latest procedures in the approval list,
Holdings Limited.
Dr Soundararajan said while speaking
Insurance Company
after formally inaugurating the two- The transaction values ABHI at ap-
day and the first exclusive Conference proximately Rs. 6,650 crores. Comple- Launches Plan for Diabetes
on Gynaecological Robotic Surgeries tion is subject to receipt of statutory
and Hypertension Patients
RoboGynIndia-2022 organised in India. and regulatory approvals, including the
nsurance firm Niva Bupa Health Insur-
approval of the Insurance Regulatory
Aiming at familiarizing surgeons and
ance Company Limited has launched a
and Development Authority of India
residents with the clinical application
new health policy for people with dia-
(IRDAI). Upon the completion of the
of the latest techniques in treating
betes and hypertension. The new rider
transaction, ADIA will own a 9.99 per
gynaecological disorders, the confer-
plan, known as Smart Health+ Disease
cent stake, ABCL will hold a 45.91 per
ence was jointly conducted by the As-
Management Plan will provide cover-
cent stake and MMH a 44.10 per cent
sociation of Gynecological Robotic Sur-
age for diabetes, hypertension and its
stake, respectively, in ABHI.
geons (AGRS), the national organiza-
complications from Day 1, thereby of-
tion of surgeons practising the art of
5% GST on hospital room fering complete peace of mind to cus-
robotic gynaecological surgeries, along
tomers living with diabetes and hyper-
with Intuitive Surgical, a global tech- rent: How will it impact
tension. The plan was launched keep-
nology leader in minimally invasive
health insurance policy- ing in mind the high number of people
care and the pioneer of robotic-as-
in India who suffer from these diseases.
sisted surgery (RAS). holders?
The rider is available for those who
Dr Soundararajan while compli- The 47th GST Council meeting in June
sign up for the ReAssure plan.
menting Chief Gynecologist Dr Rooma 2022 capped the GST at 5% to be ap-
Sinha, Organizing Chairperson and plicable on room rent (excluding ICU) “It is important to note that these cus-
Founder President, AGRS, for her ex- exceeding Rs 5000 per day per patient tomers are at a higher risk of needing
emplary services in this field, said that charged by a hospital. hospitalisation and hence need of im-
in our country it is expected that what- mediate cover," Niva Bupa, formerly
When someone gets hospitalised, one
ever latest and highest technology is known as Max Bupa Health Insurance
has an option to choose different types
introduced it has to be patient-ori- Company Limited, said in a press re-
of rooms—single private room, twin
ented and even if there is a small com- lease.
sharing, suite room, etc. The per-day
plication, it would be difficult to use it
room rent charges for each of them The plan is intended to give confidence
for the next patient because of the bad
are different and vary from hospital to to people suffering from Diabetes and
word it earned.
hospital. Under certain health insur- Hypertension to live life without worry,
ance policies, insurers only cover a the company said. The SmartHealth+
ADIA to invest in Aditya portion of the room rent or have a cap Disease Management Rider will also
Birla Health Insurance on the same (depending on the sum offer quarterly health check-ups and
insured opted).
The Boards of Directors of Aditya Birla discount of up to 20 per cent on health
Capital Limited (ABCL) and Aditya Birla Experts say that the 5% GST on hospi- insurance renewal premium on man-
Health Insurance Co. Limited (ABHI) tal room rent will further increase the aging a healthy lifestyle.
14 The Insurance Times, September 2022