Page 11 - Insurance Times November 2023

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in telehealth bookings, with young
Health insurance from India becomes more attractive
adults aged 21 to 40 accounting for up
for NRIs with GST refund to 73 per cent of these appointments.

Wealth creation, career progression, exposure to better opportunities - these In contrast, Practo's data for FY23 re-
are some of the common reasons why over 25 lakh people migrate to for- vealed an increase of 29 per cent in
eign countries every year from India. When laying the foundation of their year on year in-person consultations.
future, NRIs cannot afford to exclude the most critical component of finan- Practo data reflected in 2023, an ex-
cial security - health insurance. The sheer rise in medical emergencies as well amination of the mental health land-
as healthcare costs around the world in tandem can force families into finan- scape in various cities revealed that
cial distress in no time. More applicable for NRIs, Delhi emerged as the frontrunner,
contributing to the largest share of
this serves as a vital safety net protecting their families in their home coun- consultations at 35 per cent, followed
try, especially elderly parents. Not to forget, if they were to require medical by Bangalore at 19 per cent, Mumbai
attention during their visit to India, it could be a financial lurch to be bereft at 11 per cent, Hyderabad at 10 per
of health cover.
cent, Chennai at 8 per cent, and Pune
also at 8 per cent.
Star Health gets Rs. 39 show cause cum demand notice within According to the WHO, India bears a

crore GST notice the prescribed timelines, it added. significant mental health burden of
Star Health and Allied Insurance has Women opt for mental 2,443 disability-adjusted life years
received a demand notice from the health teleconsultation (DALYs) per 100,000 population, and
this burden has grown since the onset
directorate general of GST intelli-
While more women have opted for of the pandemic, with The Indian Psy-
gence, Mumbai zone unit, for a tax teleconsultations, men have preferred chiatry Society reporting a 20 per cent
demand of around Rs 39 crore.
in-person consultations with doctors increase in mental illness cases. Rahul
The notice pertains to non-payment of when it comes to mental health issues. Chandhok, head consultant-Mental
GST liability on the premium received Insurance tech platform Plum re- Health & Behavioural Science, Artemis
by the company as a follower insurer vealed in 2023, there has been an in- Hospital, Gurugram, said, "There are
under a coinsurance arrangement dur- crease in mental health consultations, variations in the frequency of
ing the period from July 2017 to March with 55 per cent of teleconsultations teleconsultations between females and
2023, the standalone health insurer being sought by women. In contrast, males.
informed the stock exchange. men have shown a preference for in-
One possible explanation is that fe-
person consultations, making up 67 per
The notice refers to matters relating to males tend to be more comfortable
industry wide issues and based on the cent as highlighted by the digital health with teleconsultations. Many indepen-
advice of its tax advisers, the company platform, Practo. dent women are more at ease manag-
will be filing appropriate response to the Plum also reported a four-fold increase ing their appointments alone.

The Insurance Times November 2023 11