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 insurance companies.
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.