Industry sources say that from this month, health insurance companies have decided to increase the premium by 15% to 20 percent.
HIGHLIGHTS
- Companies preparing to increase premium by 15% to 20%
- After the corona epidemic, the burden of claims on insurance companies increased
- In such a situation, it will be a compulsion of the insurance companies to increase the premium.
Health insurance premium may have to be paid more than this month. Actually, to overcome the increased claim burden after Corona, companies have decided to increase the premium. Industry sources say that from this month, health insurance companies have decided to increase the premium by 15% to 20 percent. That is, if you pay a premium of Rs 15,000, then you will have to pay up to Rs 18,000 on the arrival of premium installment. Sources said that many companies have increased the premium for individual policies.
These companies have increased the premium as follows:
Manipal Cigna Pro Health and Star Health & Allied Insurance have hiked the price of individual policies following a spike in hospitalization expenses in the recent past. Both the companies have increased the premium of health insurance by 14 per cent and 15 per cent, respectively. It is worth noting that the cost of treatment has increased rapidly since Corona. This puts a financial burden on the companies. She is increasing the premium to compensate for this.
How to increase claim burden after Corona
Companies providing health insurance say that the claim burden has increased after the corona epidemic. Insurance companies have received huge claims worth Rs 15,000 crore. On the other hand, in the medical field, the cost has increased by 18-20 percent. Due to these reasons the burden on companies has increased. In such a situation, it will be a compulsion for the insurance companies to increase the premium. If we talk about the cost of medical inflation vehicle treatment, then India has the highest number of Asian countries. The rate of medical inflation in India is 14%. At the same time, it is 12 percent in China and 10 percent in Indonesia.
