Career Search

Thursday, November 22, 2012

Health plan portability to ensure better price, service

HEALTH insurance portability, whereby one can switch service providers without compromising on policy terms, will increase competition helping customers get well-priced and quality services, feel experts.

The much awaited health insurance portability guidelines allow customers, who have long been frustrated with their insurance company, change insurer with effect from July 1.

It is more like mobile number portability. Waiting period of customers will be removed.

While customers can now heave a sigh of relief, insurance companies would find competition brewing up as companies would offer better service.

There will be increased competition in the sector and better quality of service.
Overcharging and variation in rates of premium would be reduced.

The Insurance Regulatory and Development Authority (Irda) in its guidelines for health insurance portability has mandated that pre-existing diseases (PED), which are covered by the existing insurers, would also be covered by the new insurer.

It is essential to protect the policyholders against discontinuity and consequential loss of PED cover by making the health insurance plans portable across the insurance companies, Irda said.

Customers can now choose to shift their insurers in an hassle free way as there would be lot of choice of them and would also ensure better quality of service from the insurance companies by increasing competition.

Irda has also asked insurance companies to provide all records and claims history of the customer to the new insurance company.

This will bring in more transparency and will also allow insurers to assess the risk.

 

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

 

---------------------------------------------

Invest Mutual Funds Online

Transact Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Fund Application Forms

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver Mutual  Funds  Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

 

No comments: