New Delhi: Cashless facility for mediclaim
policy holders would be available at all hospitals in
emergency and trauma cases, Parliament was informed today.
In emergency and trauma cases, cashless facility will be
provided at all hospitals irrespective of the fact that they
are part of the Preferred Provider Network (PPN) or not,
Minister of State for Finance Namo Narain Meena told the Lok
Sabha in a written reply.
It is to be noted that the public sector insurance
companies had taken off from July 1 about 150 hospitals from
the list of PPN that provide cashless hospitalisation services
to policy holders under the mediclaim scheme.
The four insurance companies -- New India Assurance,
United India Insurance, National Insurance and Oriental
Insurance -- stopped the cashless service because of alleged
over-billing by some private hospitals.
Meena said that the Insurance Regulatory and Development
Authority (IRDA) has taken up the matter with the four
This would benefit the insured by lowering the cost of
every hospitalisation, leaving a larger sum insured in the
policy for future hospitalisation, he said.
"Further, the lowering cost will also reduce loading
on policy premium at the time of renewal," he said.
Thus, this PPN system is in the interest of all health
insurance policy holders, he added.
In reply to another question, Meena said that IRDA issued
guidelines on June 28, 2010, to all life insurance companies
that all Unit Linked Insurance Plan (ULIP) pension or annuity
products shall offer a minimum guaranteed return of 4.5 per
cent per annum or as specified by the regulator.
The guaranteed return is applicable on maturity date
for policies where all due premiums are paid, he said.
IRDA has reported that the insurers will not find any
difficulty in such assured returns in view of the investment
opportunities available to them in the markets, he said.