Lok Sabha Question No. 3035 (UNSTARRED), answered on 2015-08-07
Subject: Medical Insurance Portability
Ministry: FINANCE
Asked by: P. C. MOHAN

Government of India

Ministry of Finance

Department of Financial Services

Lok Sabha

Unstarred Question No. 3035

To be answered on Friday, 7 th August, 2015/   16 Shravana, 1937 (Saka)

**Medical Insurance Portability**

Will the Minister of FINANCE be pleased to state:

1. the average number of people in the country covered under medical insurance along with the details of companies provided medical insurance;

(b) whether the medical insurance policyholders are able to switch over to another insurer without any change in the premium outgo;

(c) if so, the details thereof; and

(d) the time by which the medical insurance portability is likely to be implemented in the country?

Answer

Minister of State in the Ministry of Finance

(Shri Jayant Sinha)

(a): The Insurance Regulatory and Development Authority of India (IRDAI) has informed that as per the data compiled by the Authority, the number of lives covered under Health insurance policies during the financial year, 2014-15 (provisional data)  were 28.87 crore. As per the Census of India 2011, the population of India was 121.02 crore. As such, approximately 24 per cent of India’s total population has been covered under any health insurance policy during the FY 2014-15. IRDAI has further informed that 26 insurance companies have been issued Certificate of Registration to offer health insurance policies.

Details of health insurance policies issued and number of persons covered during the FY 2014-15 by non-life insurance and standalone health insurance companies are provided in Annexure – 1.

(b)to (d): IRDAI has informed that the Authority vide Regulation (5) (k) and Schedule-I of IRDA (Health Insurance) Regulations, 2013 which prescribe the norms for portability of health insurance policies, has already implemented the portability of health insurance policies with effect from 01 st October, 2011. The premium that may be payable towards the new health insurance policy after porting would depend on the terms and conditions of the new policy. However, as per the Regulations stipulated by IRDAI while accepting a policy which is porting-in, insurer shall not levy any additional loading or charges exclusively for the purpose of porting.

*****

|                                                                                                                                                             |                              | **Annexure-1**                    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------|-----------------------------------|
|                                                                                                                                                             |                              |                                   |
| **Health Insurance (excluding Travel -Domestic/Overseas and Personal Accident) - No. of Policies and Number of Persons Covered (2014-15) PROVISIONAL DATA** |                              |                                   |
|                                                                                                                                                             |                              |                                   |
| **Name of the Insurance Company**                                                                                                                           | **TOTAL**                    |                                   |
|                                                                                                                                                             | **No. of policies (Actual)** | **No. of Persons Covered ('000)** |
| Bajaj Allianz                                                                                                                                               | 408866                       | 1641                              |
| Bharti AXA                                                                                                                                                  | 20259                        | 1158                              |
| CHOLA MS                                                                                                                                                    | 91423                        | 3079                              |
| Future Generali                                                                                                                                             | 29366                        | 1752                              |
| HDFC ERGO                                                                                                                                                   | 442311                       | 3848                              |
| ICICI Lombard                                                                                                                                               | 661284                       | 10758                             |
| IFFCO Tokio                                                                                                                                                 | 115393                       | 13967                             |
| Liberty Videocon                                                                                                                                            | 574                          | 180                               |
| L&T General                                                                                                                                                 | 167                          | 2648                              |
| Magma HDI                                                                                                                                                   | 1                            | 0                                 |
| Raheja QBE                                                                                                                                                  | 58                           | 0                                 |
| Reliance                                                                                                                                                    | 84240                        | 18359                             |
| Royal Sundaram                                                                                                                                              | 192505                       | 1634                              |
| SBI General                                                                                                                                                 | 6023                         | 645                               |
| Shriram General                                                                                                                                             |                              |                                   |
| Tata AIG                                                                                                                                                    | 285638                       | 2160                              |
| Universal Sompo                                                                                                                                             | 182408                       | 1814                              |
| **Private Total**                                                                                                                                           | **2520516**                  | **63643**                         |
| National Insurance Company Limited                                                                                                                          | 1708966                      | 83374                             |
| New India Assurance Co. Ltd.                                                                                                                                | 1630609                      | 36994                             |
| Oriental Insurance Co. Ltd.                                                                                                                                 | 1341604                      | 23056                             |
| United India Insurance Co. Ltd.                                                                                                                             | 1182275                      | 68027                             |
| **Public Total**                                                                                                                                            | **5863454**                  | **211451**                        |
| Apollo Munich                                                                                                                                               | 484019                       | 1968                              |
| Cigna TTK                                                                                                                                                   | 17644                        | 38                                |
| Max Bupa                                                                                                                                                    | 231983                       | 1788                              |
| Religare                                                                                                                                                    | 128761                       | 2525                              |
| Star Health                                                                                                                                                 | 1634089                      | 7252                              |
| **Specialised Health Insurers Total**                                                                                                                       | **2496496**                  | **13571**                         |
| **Grand Total**                                                                                                                                             | **10880466**                 | **288665**                        |