Health Insurance Portability
I am sure you are familiar with the mobile number portability by now. It gives the consumer the freedom to choose his or her own mobile service provider. The Health Insurance Portability also gives consumers the same freedom regarding health cover.
Even though this service is not yet available in India, the Central Government and Insurance Regulatory and Development Authority (IRDA) has cleared the way to roll out this service in India.
Presently, the consumers have the right to take health insurance in India from any provider of their choice. Websites like policybazaar provide a number of options in this field. However, if a consumer decides to change its health care provider, he or she is not allowed to carry forward the cover of previous provider to the new one.
This creates the problem of pre-existing condition. Suppose, a person has a mediclaim policy and he develops a chronic disease. In such a scenario, if that person wants to change his insurance provider, then he will lose the cover for that disease as it will be deemed as a "pre-existing condition". This forces many patients to stay with their present health cover provider, even though they are not entirely happy with it.
Health insurance portability will ensure that insurance companies don't treat existing healthcare holders as new consumers and give a minimum cover to the conditions that they acquired while holding he previous healthcare policy.
This system will be extremely beneficial for the consumers. It will not only force the insurance companies to treat their customers with more care, but will also encourage customers to make a sound choice when it comes to health insurance plans. This will also be a great option for those people who develop a medical condition that is not covered by their present healthcare provider. They will easily be able migrate to another provider without having to worry about losing their accrued mediclaim coverage.
Health insurance portability is definitely going to heat up the mediclaim policy market in India. Insurance companies are set to provide many benefits to their existing customers to ensure that they stay with them. Greater concession will be given to those who want to migrate from other providers to their company.
In short, whether you decide to stay with your existing provider or migrate to a new one, health insurance portability will definitely be beneficial for you and everyone dependent on you. This is exactly why IRDA and the government are keen to introduce Health Insurance Portability in India at the earliest.
Johan Micle is an author of this article who is working with an insurance company. I have discussed about health insurance portability and why this is necessary for us. 6QQHARSYUKGY
1 comments:
There are some insurance companies that allow you to transfer coverage from accredited service providers.
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