If you have taken Health Insurance coverage through your employer and pay a Group Insurance premium every month from your salary, it is possible that you may have to pay more premium for it now. If you have also taken health insurance through the company, then there is some bad news for you. The ever-increasing loss ratios in group health business have brought down their profits significantly due to the second wave of the pandemic, due to which the companies have increased the group health insurance premium. Insurance companies were demanding an increase in the premium of individual health insurance, but the insurance regulator IRDAI has put a hold on the hike in individual health insurance premiums. However, insurance companies do not require the approval of the insurance regulator IRDAI to increase the premium in the group insurance business.

Source: dna July 08, 2021 11:26 UTC