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Health Insurance Portability

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Health Insurance Portability

Superfast in every way from claim process to responding calls

Harshal Vakharia

The Executive was a savior who guided me out of distress

Sanjay Damani

Exceptional Service and Excellent People

Pushpa Devi

I Feel my health is in safe hands

Sargam Vij

What is Health Insurance Portability?

The Insurance Regulatory and Development Authority of India (IRDA) is a body that works for the welfare of insurance policyholders and lays down guidelines for protecting their interests. Health Insurance Portability is one provision given by the IRDA that allows policyholders to switch their policy from one insurer to another while retaining the benefits.

Buying good health insurance is a process that involves thoughtful planning and careful comparison of various plans available in the market. However, there could be some reasons that can compel a policyholder to move from one insurer to another. For instance, you might want to change your insurer if your insurer increases the premium or you shifted your location and are unable to find a network hospital or you may just be dissatisfied with the services.Earlier, policyholders faced disadvantages in terms of losing their benefits such as the ‘waiting period for pre-existing diseases’ and no claim bonus when switching insurance companies and were regarded as new policyholders by the new insurer. However, the portability rules by IRDA now enable policyholders to opt for their preferred insurer without worrying about losing the benefits.

There are certain rights available for the policyholders that include the right to:

Also, both the old and new insurer must complete the porting in accordance with the timelines specified in the IRDA (Protection of Policyholders’ Interests) Regulations and guidelines.

When planning to port your health insurance policy, there are some vital things to keep in mind to experience a hassle-free process. They are discussed below:

By opting for the portability of health insurance policy, policyholders are expected to gain numerous benefits in addition to their accrued benefits and bonuses getting transferred. These benefits come in the form of upgraded policies, attractive premiums and enhanced services.With a track record of processing claims in a hassle-free manner, Religare Health Insurance enables policyholders to port their health plans ‘Care’ and ‘Care Freedom’ on the basis of their age segment and health status, and guided by the underwriting rules.

Health Insurance Portability and Accountability Act

Introduced in October 2011, Health Insurance Portability refers to the right given to a policyholder of individual health insurance or family floater plans to get the credit gained for pre-existing conditions and time-bound exclusions transferred when he/ she decides to switch from existing insurer to another or from one plan to another with the same insurer. This is applicable under the condition that the previous policy has been maintained without any break.To be eligible for this, the policyholder who wishes to port his/her policy is required to apply to the old insurer at least 45 days prior to the premium renewal date of the existing policy. He must approach the new insurer at least 45 days prior to the premium renewal date. However, the insurer is free to consider the proposal even if the policyholder fails to adhere to this time limit. At the same time, insurers also have been given the right to accept or decline any request for porting health policy, after reviewing data such as claims history of the policyholder.

The IRDA has set up a web-based facility for maintenance of data on all health insurance policies issued by insurers in order to make it easily accessible by the new insurers.

Health Insurance Portability Rules

Policyholders are required to comply with the health insurance portability rules, as specified here:

How to Port Health Insurance Policy?

Many people who want to skip hassles discard the idea of moving from one insurer to another. However, the portability procedures have been simplified that makes it highly convenient for the policyholders.

Religare Health Insurance offers an easy 3-step procedure to port health insurance policy.

  1. Fill up the portability form with existing insurance details
  2. Fill up the proposal form with complete details for the new insurance company
  3. Submit the relevant documents and make payment
Why Choose Religare Health Insurance?

A whopping 7400+

A wide Reach of Network Hospitals

4300000+

CLAIMED SERVICES

92%

Industry Best of claims settlement ratio

50Lakh

Servicing more than 50Lakh Lives since inception

150%

No Claim Bonus up to 150%
Health Insurance Portability made easy: In just 3 simple steps
Hassle free and worry free

1

Check your premium

2

Existing Insurance Details

3

Complete Payment

Mediclaim Policy Portability

The IRDA has set guidelines regarding the portability of the mediclaim policy that must be adhered to by the insurers and policyholders. It is a privilege given to the policyholders to change their insurer, due to some specific reasons, without losing the benefits. It is specifically convenient as far as a waiting period in case of pre-existing conditions is concerned. So, even if a policyholder ports his policy to the new insurer, he may not have to complete the waiting period all over again. However, this advantageous provision of Mediclaim policy portability is subject to the continuity of the health policy. That is, there should not be any break in the existing policy.

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FAQs

X
Health Insurance portability means shifting health insurance policy from one health insurance Company to another. With this, the consumer does not lose the benefits you accumulated in the previous policy.
  • World class service
  • Lowest grievance ratio in the health insurance industry for claims
  • “XXX+” Hospital Network for cashless treatment
  • 100% in-house claims settlement with empathy
  • Most value delivered for the premium you pay
Problems with current insurance company:
  • Quality of service from existing insurance company
  • Dissatisfaction in claims settlement- ease, partial payment, delay in reimbursement
  • Hike in premium
  • Hidden clauses
  • Requirement of additional cover
  • Non-declaration of critical information- Room rent limits, Copayment etc
  • Tailor made policies for your need.
  • Better value for the premium you pay.
  • Increase in Sum Insured possible.
  • Fast claims settlement.
  • Continuation of coverage
  • Carry forward of No claim Bonus
  • Consumers can port health insurance or mediclaim policy from and to any general insurance company or specialized health insurance company
  • The new insurer has to give you the credit relating to waiting period for pre-existing conditions that you have gained with the old insurer
  • New insurer has to insure you at least up to the sum insured under the old policy
  • The two insurers should complete the porting as per the timelines prescribed in the IRDA (Protection of Policyholders’ Interests) Regulations and guidelines
  • Portability guideline: Click here
  • Consumer can port any retail individual/ family policies provided by a general insurance company or a specialized health insurance company
  • Consumer should fill in the portability form
  • Consumer should fill the proposal form with complete details for the new insurance company
  • Make payment
  • Ideal time to do this is 45 days prior to renewal date of previous policy
  • Renew your policy without a break-in (within 30 days of renewal date)
  • You can port your policy to Care or Care Freedom on the basis of your age segment and health status and guided by the underwriting rules
  • Lack of complete details
  • Delay in documentation submission or wrong documents provided
  • Underwriting rejection- due to claims history, medical profiling, difference in coverage of previous insurance company and the product chosen with new insurance company
  • Break-in in policy renewal
  • Higher age
  • No, the portability does not have any charges
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