Know About Porting Health Insurance Policy

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Health Insurance Portability

Health insurance portability is an option introduced by Irdai which allows individuals to transfer their health insurance policies to another insurer if they are dissatisfied with the current coverage or services.

Health Insurance Portability

Coverage After Portability

1. Compare Features and Coverage: When one ports a policy, it is important to compare the features and coverage of the new policy with the current one. One should also ensure that the new policy offers similar benefits, including coverage limits, exclusions, etc.

Health Insurance

2. Ensure Accrued Benefits Are Transferred

After comparing the coverage, one should make sure that any accrued benefits like the cumulative bonus (CB) are transferred to the new policy without any loss, as these can significantly affect premiums and coverage enhancements.

Benefits

3. Check Co-payments And Deductibles: 

Some insurers offer policies without co-payments and deductibles, but one needs to verify this before porting.

Co-payments

4. Verify Benefits

Submission of accurate documentation, including current policy details and claim history, is important for a smooth transition. Once the porting request is accepted, one should carefully review the new document provided by the insurer to verify that all agreed-upon benefits and terms are accurately documented.

No- Claim Bonus

After submitting all the documents, and ensuring there are no coverage gaps during the transition, one should analyze the new policy to confirm that all benefits match the existing policy, and ensure any no-claim bonuses are transferred.

Compiled by Syed Muskan

health insurance claim