Mandatory health insurance co-pay: General Insurance Council considers 10% co-pay capped at ₹5 lakh
FROM THE WIRE · LIVEMINT.COM
The General Insurance Council is reportedly considering a mandatory 10% co-pay in retail health insurance policies, potentially capped at ₹5 lakh per claim. Here’s what co-payment means, why it is being considered, and how it could affect senior citizens and other policyholders.
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishAn Indian insurance regulator is considering mandatory co-payment requirements in retail health insurance policies.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The General Insurance Council is considering mandatory 10% co-payment in retail health insurance policies.
- 02The co-payment would potentially be capped at ₹5 lakh per claim.
- 03The measure could significantly impact senior citizens and other policyholders.
- 04Co-payment is a percentage of medical costs that policyholders must pay directly.