HEALTH INSURANCE FOR SENIOR CITIZENS
Transforming governance through AI
Artificial intelligence (AI) could streamline college admissions by collating student data, suggesting colleges, filling out common applications, and applying for scholarships. Universities would benefit from faster, more efficient seat allocation and scholarship awarding, simplifying the entire process. AI-enabled chatbots can provide very specific and contextualized responses in multiple languages to queries from citizens and even deliver a wide range of citizen-centric services.
What is the difference between deductible, co-payment in a health insurance policy
If you are confused by personal finance terms, jargon and calculations, here’s a new series to simplify and deconstruct these for you. In the fifth part of this series, ET Wealth explains the difference between deductible and co-payment.
Income tax Budget 2024 expectations: 10 ways the finance minister can ease income tax and financial burden of senior citizens
Income tax Budget 2024 expectations: A notable percentage of taxpayers in India are senior citizens since they receive income, frequently through passive means. ET Wealth Online interviewed three specialists to discuss senior citizens' expectations for the forthcoming Union Budget 2024.
Budget 2024 Section 80D Exemption: Why govt should increase Section 80D tax exemption limit for health insurance under old tax regime
Budget 2024 Section 80D Exemption: Taxpayers who have opted for the old tax regime are hoping for an increase in the limit under section 80D in the upcoming July 2024 budget, considering the significant rise in healthcare costs.
India starts preparing for a China-like population problem
Falling fertility rates have left India staring at the spectre of looming demographic challenges that have caused big problems for other Asian powerhouses such as China and Japan. The government is now beginning to plan for an aging India which could be a reality within a decade or two.
6 questions to ask while buying a health insurance policy to avoid claim rejections later
How to buy the right health insurance policy that will pay for your claims on time? You can avert claim rejections by asking the important questions at the time of buying health insurance and reading the policy details and fine print carefully. Ask these questions while purchasing a health plan or at the time of filling a proposal form.
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Focus on upcoming Budget: Policy in the works on finance, health support for elders
India is considering policy measures for senior care, including expanding healthcare access through Ayushman Bharat, revising pension under the Indira Gandhi scheme, and providing healthcare under NPHCE.
Star Health looking to grow 18%, improve claims ratio by 50 bps: Anand Roy, CEO
Star Health & Allied Insurance expects 18-20% growth in gross written premiums this year, aiming to double premium income in four years. CEO Anand Roy discussed the company's strategies with Shilpy Sinha.
One in three elders report zero earnings in the past year, only 29% access pensions
The survey included 5,169 elderly people and 1,333 caregivers across 20 Tier I and Tier II cities in 10 states. The study captured the experiences of elderly people from cities such as Jaipur, Bikaner, Faridabad, Panipat, Kanpur, Bareilly, Indore, Ujjain, Kolkata, Siliguri, Bhubaneswar, Rourkela, Ahmedabad, Bhavnagar, Greater Mumbai, Solapur, Chennai, Salem, Bengaluru, and Hubli-Dharwad.
JP Nadda stresses expansion of health coverage under Ayushman Bharat scheme
Union Health Minister J.P. Nadda emphasized expanding health insurance coverage under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to those aged 70 and above during a high-level meeting focused on the Modi 3.0 government's 100-day health agenda. Nadda, along with Ministers of State for Health Anupriya Patel and Prataprao Ganpatrao Jadhav, stressed improving health facility quality, leveraging technology in health programs, and increasing awareness about non-communicable diseases and tobacco control. He underscored the need for clear communication on health issues to the public.
Ayushman coverage to all over 70 years, roll out of U-WIN in health ministry's 100-day agenda
The new government under Narendra Modi aims to extend Ayushman Bharat coverage to individuals above 70 years and implement the pan-India roll out of the U-WIN portal for digitizing routine vaccinations as part of the 100-day agenda for the Union health ministry.
Star Health & Allied Insurance plans 15% price hike for two products
Star Health & Allied Insurance in Chennai may raise prices by up to 15% for Senior Citizens Red Carpet Health Insurance Policy and Young Star Health Policy due to medical inflation and healthcare costs.
Not just employers with benefits! India Inc looks to be more to woo talent
Corporate India is offering new-age benefits, realizing that attracting and retaining talent requires more than just high salaries. Cos offer new-age perks like cash for self-development, health insurance for siblings and pet care to woo talent
I received Rs 70 lakh after retirement. Where should I invest this amount for good return?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Managing finances after 80: Answers to three major personal finance questions for super senior citizens
As one ages, it becomes clear that the couple won’t leave the world together. Typically, the husband worries about the wife’s ability to manage money, while the wife worries about the husband’s ability to manage food and health. However, neither cooking, nor investing is rocket science, and it is never too late to learn these crucial life skills.
G20 Sherpa Amitabh Kant lauds India's digital transformation journey in 9 years
India has made significant strides in digital transformation over the past nine years, with a 96% reduction in data costs and a 1.4 billion people now having a unique digital identity (Aadhar). This has led to greater access and usage of digital services across the country. India's Unified Payments Interface (UPI) has seen exponential growth, contributing 46% of the global share in real-time digital payments.
Empowering senior citizens: The crucial role of health insurance in India
Recent IRDAI regulations in India aim to empower senior citizens through accessible health insurance options, including coverage for Ayush treatments, aggregate deductibles for cost-sharing, and comprehensive rider packages for additional benefits. Assessing needs and selecting the right plan are essential for personalized and comprehensive health coverage.
Razorpay revamps health insurance policy, provides coverage for vital medical treatments
Razorpay unveils new employee health insurance policy covering vital treatments like HIV/AIDS and conditions such as polycystic ovary syndrome. Employees can customize plans to include siblings, LGBTQIA+ partners, and enhanced maternity benefits. The move aligns with the trend of personalized, comprehensive healthcare offerings in India.
Health insurance premium shot up over 25% last year for 52% policyholders, finds survey; here's how the impact can be reduced
Health insurance: Premiums of health insurance policies went up by more than 25% for 52% policyholders in India over the last 12 months. In this article we tell you how this will impact senior citizens and others and how you can take steps to reduce its impact if you are a new health insurance policy buyer.
Health insurance rules changed for senior citizens: Be ready for a 10-15% hike in health insurance premiums
In a major reform, Insurance Regulatory and Development Authority of India (IRDAI) has removed the ceiling of 65 years for a person to buy a health insurance policy. Additionally, the waiting period for pre-existing conditions has been reduced from four to three years. Both these rules have been effective from April 1, 2024. Will these new rules help uninsured senior citizens get health coverage? How easy is it now to buy a health insurance policy for the first time at the age of, say, 70? Find out here
FD rates revised: This bank offers up to 9.10% FD interest to senior citizens, 8.5% rate to others
Utkarsh Small Finance Bank has revised the interest rate on fixed deposits (FDs). The revised fixed deposit interest rate will be effective from May 1, 2024. The updated rates apply to both new fixed deposits and renewals.
HDFC Bank has yet again extended last date to invest in senior citizen special FD with higher interest rate
The deadline for investing in HDFC Bank's senior citizens-only special fixed deposit program has been extended. Launched in May 2020, this unique senior Citizen Care FD provides with greater interest rate perks.
Senior citizens’ health insurance cover: 5 things to know
Senior citizen health insurance covers medical expenses incurred by people above 60 years old.
7.1% PPF interest rate or 8.2% returns from Senior Citizen Savings Scheme (SCSS): Where should someone in 20% tax bracket invest?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
FD rates up to 9.5%: These 8 banks offer over 9% interest rate on fixed deposits for senior citizens
FD interest rates in March 2024: Senior citizens are offered a higher rate of interest rate on FDs compared to those offered on general citizen FDs. Here's a look at small finance banks that provide higher interest rates on senior citizen fixed deposits.
Senior Citizen Savings scheme latest interest rate: What is the SCSS interest rate for the April- June 2024 quarter?
Senior Citizen Savings scheme interest rate: Note that if an account is formed in violation of the SCSS Rules, the account will be terminated immediately and the deposit will be returned to the depositor after deducting any interest received on the deposit.
Income tax saving ideas: With 8.2% interest, Senior Citizen Savings Scheme (SCSS) is a better bet to save tax than tax-saver FDs
Tax saving for FY 23-24: Senior Citizen Savings Scheme vs tax-saving fixed deposits: Fixed deposits (FDs) have long been a popular choice for senior citizens seeking secure investments with fixed returns and saving tax. But this year, the Senior Citizen Savings Scheme (SCSS) is offering an attractive interest rate, making it a potentially better option for retirees. While both SCSS and tax-saving FDs offer benefits, understanding their key features can help seniors make an informed decision in this tax-saving season.
Hike in senior citizen FD? Additional interest rates should increase from 0.5% to 2%; FM gets proposal
Senior citizen FD: On fixed deposits, most of the public and private sector banks offer 0.25% to 0.50% higher interest rates than what they offer to the general public. Certain banks also offer some additional interest rates to super senior citizens as well. Bharat Pensioners Samaj has requested the Finance Minister to hike the additional interest rate to 2% on senior citizen FDs. Read what they are demanding.
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