IRDAI to Launch Scorecards for Health Insurers, Hospitals by June

• IRDAI plans public-facing 'performance scorecards' for health insurers and hospitals, likely from June.
• Scorecards will track claim settlement speed, billing practices, and documentation standards to aid policyholders.
• Initiative developed with CII, part of broader reforms to boost transparency and accountability in health insurance.
• The move aims to address disputes over claims, opaque billing, and inconsistent hospital practices.
• IRDAI also pushing for basic health insurance products and a shift towards preventive healthcare.

Key Questions Answered

How will IRDAI scorecards impact policyholder choices?

IRDAI scorecards will help policyholders make informed choices by tracking claim settlement speed and transparency.

Will hospitals with low scores face reduced payments?

Yes, hospitals with low scores may face reduced payments.

What changes could this bring to health insurance affordability?

The removal of GST on individual health insurance premiums has improved affordability.