Mediclaim - Page 3

Portability of Health Insurance Policies from 1st July 2011

Ref: IRDA/HLT/MISC/CIR/030/02/2011 10/02/2011

There have been several representations from consumer associations and policyholders for enabling portability of health insurance policies from one insurer to other insurer. Persons shifting from one region to other regions are many times put to disadvantage due to lack of insurers’ office providing necessary policy servicing at the ne...

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449 Hospitals to Provide Cashless Facility to the Insured and also Package Rates for 41 Common Surgical Procedures

NA 21/08/2010

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....

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Withdrawal of Medical (Cashless) Insurance Products by Public Sector Insurance Companies

NA 18/08/2010

Statement in Response to Calling Attention Motion Notice on Unilateral Revision / Withdrawal of Medical (Cashless) Insurance Products by Public Sector Insurance Companies. The Minister of State for Finance Shri Namo Narain Meena made the following Statement in response to the Calling Attention Motion Notice regarding situation arising out...

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Service tax applicable on all cashless mediclaim transactions from July 1 2010

A new 10.3% service tax has been introduced on all cashless mediclaim transactions from July 1, to be paid by Third Party Administrators (TPA) to hospitals later. What does this mean for consumers? According to lawyer and consumer activist Jehangir Gai, "Consider that a patient with a cover of Rs 1 lakh has been allowed a claim of the fu...

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Posted Under: Corporate Law |

Efforts on to restore cashless treatment facility

NA 13/07/2010

Concerned over the plight of patients after withdrawal of the cashless treatment facility by some hospitals at the behest of PSU insurance firms, noted heart surgeon Naresh Trehan on Monday said all-out efforts are underway to resolve the issue....

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Mediclaim policyholders will soon be able to switch their health cover providers

NA 23/06/2010

Mediclaim policyholders, who are not satisfied with the service of their existing service providers, will be able to switch to another insurer soon without any change in the premium outgo.However, this facility will be available to those policyholders who are insured for a sum of Rs 1 lakh and above, to begin with....

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Soon mediclaim for treatment at overseas hospitals

Medical care at overseas hospitals could well be within your reach with a number of health insurance providers planning to launch a premium health cover shortly. Health insurance providers, both private and state-owned, are readying products targeted at high networth individuals that would provide a cover of about Rs 50 lakh....

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Posted Under: Corporate Law |

Checklist for preparation and filing of Income Tax Returns for F.Y. 08-09 i.e. A.Y.09-10 of Individual and HUF Assessee

Most of the chartered firms may have completed there bank audits or will be on the verge of completion of the same. As you may be aware that Income Tax department has notified the Income Tax Return for the A.Y. 2009-10 but not yet officially released the ITR for the same. I have uploaded the […]...

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Posted Under: Corporate Law |

Additional deduction U/s 80D for health insurance premium / mediclaim premium paid for parents

18 Additional deduction for health insurance premium paid for parents 18.1 Pre-amended section 80D of the Income-tax Act provides for a deduction of up to fifteen thousand rupees to an assessee, being an individual or a Hindu undivided family. The deduction is allowed for making a payment to effect or keep in force an insurance […]...

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Posted Under: Corporate Law |

Income Tax benefits of Medical insurance & Expenses

The average life span of an individual has increased in India due to better health conditions, awareness about one’s well being and improved medical facilities. At the same time, the medical costs of treatment and surgery have increased a lot. Therefore, medical insurance makes complete sense, especially where majority of the family mem...

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Posted Under: Corporate Law |

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