'Healthcare costs in India rise by 10 to 14% annually, causing treatment costs to double roughly every 5-7 years.'
As heart disease increasingly impacts young Indians, understanding the complexities of health insurance, including higher premiums, waiting periods, and the benefits of specialised cardiac policies, becomes vital for financial protection.
Ashish Mehrotra, MD and CEO, Max Bupa Health Insurance, explains the changes we can expect in health insurance this year.
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
Chennai-based Star Health and Allied Insurance has launched Cardiac Care, a unique policy that covers people with heart ailments.
If you contract a disease a few years after buying a health cover, disclosure isn't mandatory. But if you want to increase the sum assured, premiums could go up.
'Once the 60-plus population hits 20 to 30 per cent of the country, the demand for elderly-care treatments will surge -- cardiac, metabolic, neurological, and musculoskeletal medicines are going to dominate the market for the next several decades.'
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
'Try to buy a policy with a lower sum assured or one with a deductible.' 'Those whose spouses work for companies must get themselves enrolled into the employer's group health cover.' 'Some public sector banks also offer group health covers to those who open a savings account with them.'
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
Even by conservative assumptions that 5 to 10 per cent of infected individuals develop long Covid, India today may be home to 50 to 100 million infected individuals -- many silently coping with breathlessness, fatigue, palpitations, brain fog, or unexplained clotting tendencies.
Banks offer a wide range of group insurance plans -- personal accident, health, hospital cash, home insurance, credit protection, and critical illness.
Ensure that you get a high sum insured. Also, make sure the policy covers the cost of implants (pacemaker, stent, etc), and pre and post-hospitalisation expenses.
Health insurance coverage should be hiked periodically to keep pace with medical inflation, or increase in healthcare costs.
'Our pet insurance policy is similar to the health insurance for humans.'
Rakesh Kaul, CDO, Edelweiss General Insurance, answers your health insurance queries.
The Indian Council of Medical Research is conducting three different studies to ascertain the facts regarding rising cases of cardiac arrest after the pandemic, Mandaviya said in response to a question in the Lok Sabha.
Cost of the diagnostic test for Covid-19 has been fixed at Rs 4,500 per test by the government. Hospitals, however, do not think this is feasible.
'Throw away all perishable foods that have been left at room temperature for more than two hours,' suggests dietician Komal Jethmalani.
Most Millennials do not realise the importance of having a critical illness insurance policy till they find themselves or their near ones in circumstances where they need it. A little extra caution -- by way of critical illness insurance -- can save the young professionals from a large hole in the pocket in the time of accumulation of wealth.
The National Consumer Disputes Redressal Commission, while setting aside the Punjab state commission's order, asked the Chandigarh branch of the Life Insurance Corporation India to pay the sum along with compensation Rs 25,000 and litigation cost Rs 5,000 within 45 days to Punjab-resident Neelam Chopra.
They say new rules that make over-billing by private hospitals a criminal offence will hurt their ability to treat patients properly, says Subir Roy.
Three key instruments that can help you meet your financial goals, while also allowing you to enjoy tax deductions are ELSS, term cover and health cover.
Private hospitals can charge up to Rs 250 per dose of COVID-19 vaccine, official sources said on Saturday as India prepares to vaccinate people aged above 60 years and those over 45 with comorbidities from March 1.
'This is about children caring for their parents and helping them with assistance.'
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
Some of the proposals (for example trade margin calculation for imported medical devices) were not approved by the PMO and were sent back for revisions.
Experts say one in every four mental health problems is due to depression and anxiety at the workplace.
I got to know that every referred case for angiography and angioplasty got a kickback of Rs 5,000 and Rs 15,000 respectively. Seeing this trend, doctors started paying referring doctors Rs 1 lakh in advance and adjusting it as and when patients came in. This menace slowly spread its tentacles all over the medical field, including radiological diagnostics and biochemistry laboratories. For every test ordered, 20 per cent of the bill was given back to the referring doctor. This led to doctors recommending unnecessary tests. The pharmaceutical companies also saw burgeoning business. Acclaimed doctors were given televisions sets, refrigerators, air conditioners and cars depending upon the prescriptions. General practitioners would prescribe unnecessary drugs, and were given returns in cash. A fascinating excerpt from Dr Upendra Kaul's When The Heart Speaks.
"In India, the sector will grow to $10 billion by 2018," predicts Vishal Bali, co-founder, Medwell Ventures, in an interview with Apurva Venkat.
Doctors says this new procedure could save the lives of more than 30 per cent heart transplant patients by increasing supply of suitable donors
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
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