Hike in Hospital Package rates on the cards? Will this Impact your Group Insurance Premium Rates?

In the new year 2022, private hospitals are preparing to increase the treatment and package charges by up to 10%, which will also have an impact on your health insurance premium. 

The increment in hospital charges will have a great impact on group insurance premiums that gets renewed every year and insurance companies will increase the group health premium as soon as the agreement with the hospitals is renewed.  

For the increment in the premium of individual health policy, Insurance Regulatory and Development Authority's (IRDAI) approval is necessary but in the guise of increasing in the Corona claim, companies are also demanding to increase the premium in individual health policy. 

Will health insurance be too expensive? 

Here are the key pointers that you must read: 

• Private Hospitals are preparing for the increment in the package rate by up to 10% in 2022 
• Increase in hospital charges will have a greater impact on group insurance premiums 
• Insurance companies will increase the group health premium as soon as the agreement with the hospitals is renewed 
• Increase in individual health insurance premium possible only after approval of IRDAI  
• Under the guise of Corona claim, most of the companies are demanding to increase the health policy premium from IRDAI 
• Insurance companies have claims of Rs 25,000 crore rupees related to corona 
• Some of the companies increased the premium and some prepared to increase