health insurance

Insurance Regulatory and Development Authority (IRDA) has issued guidelines vide circular dated 9.9.2011 implementing portability of health insurance policies amongst non-life insurance companies w.e.f. 1.10.2011. The health insurance policy holder by virtue of the said circular can, at the time of renewal, switch:- Full Article

IRDA had earlier required that portability of health insurance policies across non-life insurance companies including stand alone health insurance companies would be introduced with effect from 1st July, 2011. The modalities of such portability to be effective and consumer friendly have been discussed with the non-life insurers in the country. Full Article

The new tax code offers a little extra in terms of your take-home salary by tweaking tax brackets and increasing tax deductions. But you will have to rework your investing habits a bit in the financial year 2012-13 (when the Direct Tax Code gets functional) and change the way you invest in order to get the maximum benefit that the government plans to offer. Full Article

The Public Sector General Insurance Companies have been incurring health insurance claims in excess of premium received and after factoring in acquisition costs, which are around 10%, and the management expenses which are over 25%, the Combined Ratio i.e. the total expenses for health portfolio exceed 140% of the premium income. Full Article

Protecting your most important assets is an important step in creating a solid personal financial plan. The right insurance policies will go a long way toward helping you safeguard your earning power and your possessions. In this article, we'll show you five policies that you shouldn't do without. Full Article

General insurers, both private and public, have started offering continuity of features of group mediclaim policies to employees even after one quits an organisation where the cover was originally offered. People retiring can also continue to avail of the facilities of the group health policies. The only catch is that it no longer remains a group policy and gets struck off the list of covered employees of the company. It is now treated as an individual policy. Full Article

The Insurance Regulatory and Development Authority (IRDA) has asked the Income-Tax Department and the Central Board of Direct Taxes (CBDT) to consider exemption of Third Party Administrators (TPAs) from Tax Deducted at Source (TDS). According to a recent CBDT circular, the TPAs would have to deduct 10 per cent of the amount as tax when making payments to hospitals on behalf of patients. Full Article

The income-tax department last week sent notices to six Mumbai-based third party administrators (TPAs), who process insurance claims, askingthem to cough up Rs 117 crore for two consecutive financial years, beginning 2008-09. Full Article