The policy has two plans- one covering hospitalization in medical centers in Asian countries while the second offers covers worldwide. The Asian countries medical coverage plan offers a lifetime cover ion $1 million and the worldwide lifetime coverage insures an individual for $2 million
There is a waiting period of 90 days for all the treatments. The policy can be renewed lifelong if there is no break.
Mumbai:
The domestic insurance industry is getting ready for the nationwide launch of National Health Protection Policy (NHPC),otherwise termed as Modicare, in couple of months..
“NHPC may be rolled out either on Aug 15 or Oct 02, 2018 . Government may not put any price cap on the higher side,’’ said G Srinivasan, CMD, New India Assurance on Tuesday while launching the company’s “Global Mediclaim Policy’’
Though, the ministry of health has already met the majority general insurers twice to discuss the issues like pricing, nothing has been finalised as yet.
NHPS was announced by finance minister Arun Jaitley in his 1 February Budget speech. Under the scheme, Government plans to provide health cover of Rs 5 lakhs per family to 100 million families in India, which is about 500 million people or 40 per cent of the population.
NIA launches a global mediclaim policy
NIA launched a global mediclaim policy to cover treatments like cancer, neuro-surgery, heart surgery, organ transplant and bone marrow transplant in hospitals only outside India. For this, the insurer had tied up with 99 hospitals worldwide including Cedar-Sinai Medical center, John Hopkins and King’s College hospital.
The policy called ‘New India Global Mediclaim Policy’, will cover the hospitalisation expenses incurred by a customer. Entry age for this policy is 18-65 years. The policy is available for any person who has a health insurance policy with sum assured of Rs 8 lakh and above.
The policy covers an entire gamut of services like medical second opinion for the covered illness of the insured to the expenses like travel, accommodation and treatment in a foreign land,
The policy has two plans- one covering hospitalization in medical centers in Asian countries while the second offers covers worldwide. The Asian countries medical coverage plan offers a lifetime cover ion $1 million and the worldwide lifetime coverage insures an individual for $2 million.
There is a waiting period of 90 days for all the treatments. The policy can be renewed lifelong if there is no break.
“Global Mediclaim policy has been designed to ensure that Indians will now get a choice to pursue the best medical treatment available anywhere in the world with a comprehensive insurance cover from an Indian insurer. With a cover offering annually, of USD 0.5 million and life time coverage of USD 1 million for Asian plan and USD 1 million and USD 2 million life time coverage for other than Asian Plan , Global Mediclaim Policy is a new milestone in Indian health insurance industry.,’’ said Srinivasan.
Health Insurance claim ratios are improving for the NIA because of price correction in some segments of health covers, said Srinivasan.