HEALTH INSURANCE SCHEME
Ayushman Bharat scheme: What is it about, benefits, other details
President Droupadi Murmu announced today that under the Ayushman Bharat health insurance system, all Indian residents over 70 will receive free medical care.
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.
How to cut income tax outgo by Rs 75,000 with NPS, health insurance
How to reduce income tax outgo: Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments. TaxSpanner estimates that Tuteja can reduce his tax by around Rs.75,000 if his company offers him some tax-free emoluments as well as the NPS benefit. Tuteja also needs to invest in the pension scheme on his own, buy health insurance for his parents, and avoid booking taxable capital gains.
Investment portfolio: Use current rally to get rid of underperformers, increase SIPs by 10% every year to achieve long-term goals faster
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
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.
India's social welfare schemes don't speak to each other: Andaleeb Rahman, Cornell University academic
Prime Minister Narendra Modi initiated the transfer of funds for PM-Kisan and approved housing assistance under Pradhan Mantri Awas Yojana. In 'The Future of India’s Social Safety Nets,' Andaleeb Rahman and Prabhu Pingali advocate for a systemic approach to social welfare programs.
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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.
I am a retired person; I have a health insurance cover of Rs 5 lakh. Should I get a super top-up health insurance plan?
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.
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.
New govt likely to vote for populism in budget
With the Lok Sabha election results hinting at a coalition government, economists anticipate a populist Budget focusing on welfare schemes for the upcoming fiscal year.
NHCX, a single portal for all health insurance claims soon: what is the claims process, benefits to policyholders
The digital platform, to be launched in 2-3 months, will speed up and standardise claim settlement process, leading to cost benefits for the insured.
Why has Quant Large Cap fund been an outperformer? Shweta Rajani answers
I will highlight two-three points over here. One is definitely a size advantage that a Quant would have, so I am talking about a thousand crore fund versus a 35,000 crore fund, so that helps in the agility of the fund manager to actively manage.
Health insurance claim rule change: Cashless claims must be cleared in 3 hours; insurer to pay hospital charges for delay in discharge, says IRDAI
Health insurance: The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular to streamline health insurance claim process. Previously, delays in claim approvals forced patients to stay in hospitals longer. Now, insurers have three hours to approve cashless discharge requests. Additionally, insurers will be liable for extra hospital charges due to delays.
Not a market for bargain hunters; look beyond June 4 for investment opportunities in next five years: Abhay Agarwal
Abhay Agarwal, Founder & Fund Manager at Piper Serica, discusses market focus on earnings, growth, and India's economic potential post-event. Grasim's expansion into the paint segment and Titan's nervousness are key points. Agarwal also says he expects the Birla Group will get re-rated because of various things they are doing like the Novelis IPO which was pending for a long time, which will unlock capital for Hindalco.
PM Gati Shakti to aid in expanding social security
To begin with, the ministry has geotagged 1.3 million establishments covered under the Employees' Provident Fund Organisation (EPFO), about 1.5 million under the Employees' State Insurance Corporation (ESIC) and 104 ESIC hospitals for assessing the current social security coverage and planning future expansion.
Health Insurance Claim: 43% policyholders faced difficulties, some had to wait an extra day at hospital, survey
Health Insurance claim: Many people in India are facing difficulties in getting their health insurance claim processed. "43% health insurance policyholders who filed a claim in the last three years struggled with getting it processed," as per a report by LocalCircles.
India needs to expand universal health coverage for rapidly ageing population, maintain growth: ADB report
A report by the Asian Development Bank (ADB) highlights India's low health insurance coverage for older people, emphasizing the need to expand universal health coverage. While countries like South Korea and Thailand have achieved universal coverage, India lags behind, with only 21% of older people covered. The report acknowledges the positive impact of schemes like Ayushman Bharat but calls for further expansion to improve the well-being of older individuals and enhance their productivity for the economy. It also stresses the importance of extending essential services to optimize older people's physical and functional capacity.
Health an orphan, Ayushman Bharat insurance scheme poorly structured: IMA chief Dr R V Asokan
The Indian Medical Association's chief, Dr. R V Asokan, criticizes the lack of focus on health post-Covid, describing it as an "orphan" issue. He highlights the inadequacies of the Ayushman Bharat scheme, citing poor structure and funding. Asokan advocates for increased government investment in public health infrastructure and human resources, emphasizing the need for a basic healthcare package for all citizens.
Non-Life Insurance Booms: Health premiums exceed Rs 1 tn, motor crosses Rs 90,000 crore mark in FY24 surge
In the fiscal year 2023-24 (FY24), India's non-life insurance industry experienced significant growth primarily fueled by the health and motor insurance segments. Health insurance premiums surpassed Rs 1 trillion, marking a 20.2% increase, while motor insurance reached Rs 91,781.3 crore with a growth rate of 12.9%.
Public insurance companies running Ayushman Bharat scheme in only Tamil Nadu, three more states: Sources
Instead, a few states are engaging private sector insurance companies while most have set up trusts to run the Pradhan Mantri Jan Arogya Yojana (AB PMJAY), the government's flagship health insurance scheme.
Unorganised workers to be urged to enlist on E-Shram portal for social security plan
The portal, launched in August 2021, has 294.5 million unorganised workers registered as on date with average daily enrolments of 20,000. The government had estimated India's unorganised workforce at 370 million at the time of the launch of the portal.
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) have approved the Scheme of Amalgamation (Scheme) to create a large unified operating NBFC. The merger will result in a reduction of legal entities and simplification of the group structure of Aditya Birla Capital. It will also comply with the Scale based Regulations of RBI, which require mandatory listing of Aditya Birla Finance by September 30, 2025.
Tax-saving tips: How to use NPS benefit from employer to save Rs 80,000 in tax
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
AB-PMJAY scheme: AIIMS says over 23,000 beneficiaries availed benefits since 2018
Since September 2018, over 23,000 beneficiaries have benefited from the Ayushman Bharat health insurance scheme at AIIMS, Delhi. The majority of patients seek treatment in medical oncology, ophthalmology, general medicine, orthopaedics, and neurosurgery departments. The Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) scheme has seen 730 procedures for congenital heart diseases, 557 total hip replacements, and 148 total knee replacements.
Budget 2024: Insurance cover under Ayushman Bharat health insurance scheme likely to be doubled
The Union health ministry is also planning to double the beneficiaries to 100 crore under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to include Kisan Samman Nidhi recipients, construction workers, non-coal mine workers and ASHA workers in the next three years.
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