The Insurance Regulatory and Development Authority has told public sector general insurance companies not to compel senior citizens to move to other health insurance products if it is to their disadvantage. The regulator has also told the insurance companies that premium loading for renewals of mediclaim policies should not exceed 50%- 75% of the premium charged prior to April 2007. However, these notifications apply only in the case of renewals of existing policies and not for people entering the health insurance system for the first time.
As per the recommendations of the senior citizens health insurance committee, the regulator has constituted a separate grievance cell for senior citizens' health issues. R Srinivasan has been appointed as an officer on special duty and senior citizens can air their grievances related to health insurance provided by public sector general insurers to him through a dedicated email id. The senior citizens health insurance committee was set up to look into the availability of health covers to people above the age of 60.
Public sector general insurers hiked premiums on health policies for people above the age of 60 by 100%-200%. In a few instances, the additional loadings on premiums were as high as 400%. Given the increases, there's been a spate of complaints sent to the insurance regulator both from individual senior citizens as well as senior citizens' groups.
From: Times News Network, March-17-08
