Prakash Shah,CFP®QPFP® 🎯’s Post

In a recent conversation with HBL, Anup Rau, MD and CEO, highlighted the significant benefits of reduced GST rates for customers in the health insurance sector. He emphasized that the reduction not only helps lower premiums, making insurance more affordable, but also encourages greater penetration of health insurance among the population. This shift is expected to enhance financial security and access to healthcare for a larger segment of society, ultimately leading to improved health outcomes. Read more: https://lnkd.in/dFBwGGUN

Pre-existing diseases (PEDs) are a common feature in every health insurance policy and can determine your coverage, premium and eventually your claim. In this interesting #ZopperDefine blog, we have explained the core concept of pre-existing diseases/conditions and their implications on your health insurance policy. Understand all about PEDs by clicking here: https://bit.ly/3LtKqKe #zopper #healthinsurance #health #insurance #claim #insurancepremium

Fighting for health insurance claim with your insurer while fighting an illness on a hospital bed is a double blow. Given a choice, nobody would want to be in such a situation. But practically thinking, a health emergency can arise anytime. What you can control is your chance of having smooth health insurance claim settlement when need arises. Here's is a blog detailing the top reasons for health insurance claim rejection and what you can do to avoid it. https://lnkd.in/gMu7TyCX #healthinsurance #claims #claimrejection

Even Saif Ali Khan needed health insurance. If it can happen to him, it can happen to anyone. Recently, Saif was admitted to Mumbai’s Lilavati Hospital. His health insurance claim was filed of ₹35.95 lakhs,  out of which ₹25 lakhs was approved for cashless treatment. The rest of the amount was settled after submitting the final medical bills. The reality is that health emergencies don’t discriminate— whether you’re a celebrity or not. That’s why having insurance isn’t optional. It’s your safety net when life takes an unexpected turn. And yet, so many people overlook the basics. Here’s what you NEED to remember:  ⟶ Insurance isn’t just for emergencies. It’s smart financial planning for everyone, rich or not.  ⟶ Keep your KYC documents and health card ready. You’ll need them during hospital admissions.  ⟶ Notify your insurer immediately. Delays can complicate the claims process.  ⟶ Understand cashless claims and pre-authorization. It’ll save you stress during critical moments.  ⟶ Keep every medical bill and discharge summary. These are vital for reimbursement claims. Saif’s case is a reminder that no one is immune to life’s uncertainties. Plan for the worst. Hope for the best. And let your insurance do the rest. What’s one step you’ve taken to secure your future?

How Narayana Health Hospital’s Viren Shetty plans to deepen insurance penetration? By keeping patients out of the hospital Preeti Kulkarni of moneycontrol.com had an interesting chat with Narayana Health Hospital’s executive vice-chairman Viren Shetty to understand about Aditi, the first product launched by Narayana Health Insurance, a subsidiary of Narayana Health (founded by Dr Devi Shetty). But first, the problem: Insurance companies advertise that their claims ratios are high. But talk to policyholders who have been denied claims and insurance companies say that hospital have overcharged. Hospitals say they face hurdles in pricing and claim settlement. The solution: ✅ Combine a hospital and an insurance company in one. ✅Launch a low-cost health insurance policy. ✅Work with the policyholder to keep him/her out of the hospital. ✅A model to not deny a health insurance policy. Get the policyholder checked and approved by an empanelled doctor. ✅Screen the policyholder: Green (healthy), Orange (mild risk) or red (high risk). ✅A Green policyholder is given the health policy there and then. And once you have the policy, all your claims are accepted. ✅Nudge the policyholder to be in constant touch with the doctor for on-going treatment. This ensures that the patient is monitored and kept out of the hospital. And only genuine cases are referred to the hospital. But if / once admitted, claims are not rejected. Read the entire interview on moneycontrol.com.

Health insurance - A blessing or curse There are several advantages to buying health insurance, including protection against unexpected medical expenses, access to quality healthcare services, tax benefits, peace of mind, and incentives for maintaining a healthy lifestyle. And there is absolutely no doubt that it helps the family financially. But is it actually helping???? what are the risks? Once you enter inside a private hospital, the first question they ask now is - are you insured? If yes how much is the sum insured and who is your insurer. But is it to facilitate you or to levy extra charges and perform additional proceedures on the patient that are even not required. Since you are covered you won't bother paying till the last penny of the sum insured and this is where the risk is. Patient can undergo proceedures that can be risky just to peculate the money. They can be operated even where medicine can help. The costs are increasing as the private hospitals are aware of the fact that , the insurance customers are increasing plus government is also insuring the poor. It's a dirty business now and a game where the doctors and hospitals are playing with your lives. So how to evade or escape?? you can't most of the time but try to find contacts and take multiple opinions with multiple doctors.

Even Millionaires Need Health Insurance: Even millionaires like Saif Ali Khan prioritize 𝐡𝐞𝐚𝐥𝐭𝐡 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 because it’s a crucial part of 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭. If someone with the resources of Saif is using health insurance to manage medical expenses, it’s a reminder for all of us to take it seriously. Let me tell you what happened: Recently, Saif had a medical emergency and filed a ₹35.95 lakh health insurance claim after being admitted to Mumbai’s Lilavati Hospital. Out of this, ₹25 lakh was approved for cashless treatment by Niva Bupa Health Insurance, with the rest to be settled after submitting final medical bills. Here’s the twist: Saif’s health insurance details were leaked online, making this case even more talked about. But it’s not just about Saif; it’s about what we can all learn from this. 𝗪𝗵𝗮𝘁 𝗖𝗮𝗻 𝗪𝗲 𝗟𝗲𝗮𝗿𝗻? 1️⃣ Even the rich rely on insurance; it’s not just for emergencies but for smart financial planning. 2️⃣ Always keep your KYC documents and health card handy during hospital admission. 3️⃣ Notify your insurer or TPA immediately in case of hospitalization. 4️⃣ Understand how cashless claims and pre-authorization work to avoid last-minute stress. 5️⃣ Retain all medical bills and discharge summaries for reimbursement claims, if needed. Saif’s case is a reality check: health emergencies don’t discriminate, and being prepared is the key. Whether it’s ensuring you have the right policy or knowing the claims process, these small steps can make a huge difference. What about you? Are you prepared for unexpected medical emergencies? Let me know in case we have any further concerns. Its Not just 80D (Mediclaim Benefit)

🌟 Choosing the right health insurance is crucial for your financial and health security! I'm excited to share a comprehensive article that can help you navigate through the options and select the best health insurance plan in India. 🔗 [Read the full article](https://lnkd.in/dZn69uHP) on the 1 Finance blog to understand key factors like benefits, coverages, claim settlement ratios, and more. 💡 Whether you're buying insurance for the first time or looking to switch plans, this article has all the insights you need. Don't miss out on securing your health the right way! #HealthInsurance #FinancialWellbeing #1Finance

An insurance claim can be rejected for several reasons. Not all claims are valid, and health insurance companies are very careful about approving them. They won’t just hand out their money to anyone who files a claim. Only the claims they find “convincing enough” will get approved. Let’s take a look at the top reasons why health insurance claims get rejected. Link - https://lnkd.in/gZX6GjEK #healthinsurance #healthinsuranceclaim #claimrejection #medicalclaim #insurancefraud #mediclaim #healthcare #medicalinsurance #insurancecompany #insurancelawyer #consumerrights #financialplanning #financialadvice #legaladvice #consumerprotection #healthtips #financialtips #legaltips #insurancetips #healthcarecrisis #healthcarecosts #healthcareaccess

Family Insurance - Health & Life Ethiopia and Ethiopians Deserves Comprehensive Health and Life Insurance services This has to be a priority for any healthcare personel As the second-most populous country in Africa, Ethiopia faces a pressing need to transform its health and life insurance landscape. Currently, life and health insurance account for less than 5% of the insurance market—a stark contrast to our neighbor Kenya, where these sectors dominate over 50% of the market share. This imbalance reveals a critical gap in Ethiopia's ability to safeguard its citizens from catastrophic health expenditures and provide adequate financial protection during life’s uncertainties. We are experts in health systems, health financing, and health entrepreneurship, and we strongly believe Ethiopians deserve access to a comprehensive private health insurance firm. Such a firm would enable families to plan their healthcare needs effectively, ensuring that health crises do not translate into financial disasters. Here’s what makes our initiative groundbreaking: this will be the only insurance company majority-owned by health professionals—people who intimately understand the needs of patients and the importance of accessible, affordable care. We invite you to join, invent, and invest in this transformative journey. Let say redefine the future of health and life insurance in Ethiopia. Let’s make health security a reality for all Ethiopians. www.familyinsurance.et