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Thursday, April 14, 2011

Health Insurance Portability: Clarity Required

There still does not seem to be too much clarity on health insurance portability in India. As per industry sources, health insurance portability will come into effect from July 1. It is still anybody's guess as to how pre-existing diseases, which is at the heart of portability, will be treated by the new insurer. There is one concern that health insurance portability might lead to increased costs for the consumer desiring to port, as the new company can use increase pricing as a ploy to turn down underwriting which they think might not be profitable. One concern area for health insurance companies is that they dont have access to a centralised database which has the claims history and health records of every insured person. In the absence of that, it becomes difficult to price the risk

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