Page 17 - The Insurance Times November 2024

According to a Reuters report, policy PM Modi launches Ayushman Bharat Health Insur-
and claims documents containing
names, phone numbers, addresses, tax ance scheme for senior citizens above 70 years
details, copies of ID cards, test results, Every citizen aged 70 and above will receive free hospital treatment across
and medical diagnoses were publicly the country through the Ayushman Vaya Vandana Card under the Ayushman
accessible via chatbots on Telegram. Bharat health insurance scheme, said Prime Minister Narendra Modi.
"If the 7.24-terabyte figure is accu- Recently, the government expanded the Ayushman health insurance scheme
rate, it will be massive, almost like the to include all individuals above this age threshold, irrespective of their fi-
country's data. If data of 31 million nancial status. Modi emphasised the card's inclusive nature, indicating that
people has been breached, then that's it would be available to all income groups, regardless of whether they are
a huge problem," said Pankit Desai, from poorer, middle, or upper-class backgrounds. The initiative aims to re-
founder of Mumbai based duce out-of-pocket healthcare expenses for families and improve access to
cybersecurity firm Sequretek. healthcare for the elderly.
The Chennai-based company did not However, the scheme has yet to be implemented in Delhi and West Bengal,
respond to question, although an offi- excluding elderly residents in those states from its benefits, he said. This
cial stated that a detailed statement initiative aligns with the government's ongoing efforts to enhance health
would be released soon. Though the coverage through the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana
hacker claimed that a company official (AB-PMJAY), which aims to safeguard vulnerable groups from healthcare
shared the data, cyber experts indicate costs.
that this may not be factual. A hacker The Union Cabinet's recent decision to extend health coverage under the
named xenZen its reportedly behind
AB PM-JAY to all senior citizens aged 70 and above is set to benefit over 6
the leak.
crore elderly individuals across India. This expansion of the government’s
"In the insurance sector, you work with flagship health insurance scheme aims to provide broader and more inclu-
many third parties, such as insurtech sive healthcare coverage.
companies, data management firms, Health experts have highlighted the potential positive impact of the initia-
system administration players, and
tive on India's elderly population and stress the importance of sustainable
health check companies. Data ex- practices for its success.
change happens across systems in
many forms and formats. A gap in
someone else's system can also be- This new option offers benefits that With these plans, policyholders make
come your problem," Desai added, simplify long-term healthcare planning a one-time premium payment or
emphasising that the company should and make it more cost-effective. choose a payment schedule, securing
immediately reach out to users who “This extended coverage allows cus- consistent coverage over several years
may be affected. without the need for annual renewals.
tomers to lock in premiums for a longer
Experts also note that since the data period, providing protection against This approach helps them avoid yearly
is already available on third-party net- rising healthcare costs. Additionally, in- premium hikes and reduces the hassle
works, there may he little the company surers are offering discounts on these of frequent renewals.
can do now. multi-year policies, making long-term
coverage more affordable than ever.
Multi-year health insur- With reduced renewal frequency, this Join
option is especially convenient for NRIs
ance now available for up Online Certificate
and frequent travelers seeking hassle-
to five years with locked free, reliable health insurance," said Course on
premiums and discounts Siddharth Singhal, Head of Health In-
surance at Policybazaar.
Policyholders can now secure multi- Motor Insurance
year health insurance plans with cov- For the unversed, multi-year health in-
erage up to five years, expanding from surance is a policy that provides cov- For details please visit
the previous limit of three years, ac- erage for an extended term, instead www.smartonlinecourse.co.in
cording to Policybazaar. of the traditional annual renewal.
The Insurance Times November 2024 15