Monday, August 31, 2009

Medical Cost Contrast (Source Various editions of Hindustan Times Aug 2009)

Medical Cost Contrast (Source Various editions of Hindustan Times Aug 2009)

Many a times we come across question of persons who access our website and want to know about costs associated with various treatments .It is interesting to find some cost contrasts in various editions of Hindustan Times.We have compiled these for your reference so that you can interpret it in the best possible manner.

1- Treatment: Treatment for brain hemorrhage and face reconstructive surgery

Hospital: Apollo Hospital
Cost: Rs.1,22,922 (Including stay in the hospital)
ICU charges: Rs.56,000(per day, including consumables)
Hospital: Government
Cost: Rs.20,000 – 30,000 (including medicine and consumables)
ICU charges: Rs.10,000 (consumables and bed charges, surgery is free

2- Treatment: C-Section

Hospital: Max Hospital (Pitampura)
Cost: Rs.60,000 (Single room)
Hospital: AIIMS
Cost: Surgery (free)(cost of consumables Rs.3000 + Rs.360 for 10 days hospital stay)

3- Treatment: Change of pacemaker

Hospital: Max Hospital (Pitampura)
Cost: Rs.65,000 (Inclusive of 3 day hospital stay + cost of pacemaker and other consumables (Rs.60,000 – 70,000)
Hospital: AIIMS
Cost: Rs.55,000 (cost of pacemaker + Rs.5,000 for procedure)

4- Treatment: Caesarean Section-Delivery

Hospital: Sir Ganga Ram Hospital
Cost: Rs.35,000 – 40,000 (double sharing) Rs.70,000 (single room)
Hospital: Government
Cost: Surgery 0 (free) (consumables and bed charges:Rs.3,000 + Rs.365 for 10 days at AIIMS)

5- Treatment: Left Leg Femur Surgery

Hospital: Sir Ganga Ram Hospital
Cost: Rs.40,000 – 45,000 (two days)
Hospital: Government
Cost: Surgery 0 (free) (cost of implants and medicines(Rs.8000 – Rs.10,000

6- Treatment: Cancer Treatment

Hospital: Rajeev Gandhi Cancer Institute
Cost: Rs.7,00,000 – Rs.8,00,000 (including medicines, bed stay, ICU charges)
Hospital: Government
Cost: Rs.3,00,000 – Rs.4,00,000 (including consumables)

You may find these useful for deciding what should be the sum assured?

Thursday, August 20, 2009

Liver transplant costs how much?

A common question asked is how much health insurance coverage do I need?
It is a very simple as well as a very difficult question.

Simple -whatever you can afford
Difficult-it should cover whatever treatment you may need during the validity of the policy.

I have come across a news item in HT regarding Priya ,who has undrgone liver transplant in Ganga Ram Hospital in New Delhi.It cost her Rs 22 lakhs.This does not incude the travel costs which she might have incurred as she is resident of Mumbai and decided to get the surgery done in Ganga Ram Hospital.

As covered earlier in my blog the maximum insurance coverage available to any one from few Indian Insurance companies is Rs 10 lakhs ( mostly it is Rs 5 lakhs).Even if some one had taken the policy of Rs 10 lakhs,one would have paid Rs 12 lakhs out of own pocket.Let us come out with policies ,where sum assured can be Rs 25 lakhs.Let us see which company makes the beginning.

Insurance Companies to start publishing the financial data

Large number of insurance clients ask us from time to time about the financial health of different insurance companies : As none of the company is listed on the stock ecxchange therefote it was not possible for a common man to find out which company is financially strong or weak .The good time is coming as the Insurance regulator IRDA will make it mandatory for all insurers to disclose their financial statements to the public, even if they are not planning to get listed on stock exchanges.

Disclosures will apply to both public and private insurers and this was announced by Mr. J Harinarayan, Cahirman IRDA in Hyderabad.

The proposed move will bring in transparency and enable policyholders to gauge the financial strength of insurance firms. It will also help potential investors assess the strength of a company as and when the company plans to launch an initial public offering (IPO).

Currently, insurers furnish quarterly statements to IRDA, but as you know this is not in public domain.

Swine Flu -Is it covered or not?

Insurance companies have come out with some clarifications and these are;

(1) Cost of Tami flu is not covered as this is being given by the Government on free of cost basis.

(2) Private hospitals can charge the patient for facilities like tests, beds and doctors fees. And this will be covered.

(3) If admitted in a hospital and the tests are negative then nothing is payable. If positive then it is payable.

(4) If it is a new policy then 30 days clause is applicable.

Summary of all above mentioned points is that do not wait but get health insurance policy immediately,otherwise be prepared to be treated in one of the government owned hospital.

Wish you best of luck so that you don't get affected with this disease.

L&T FIN to own 100% of General Insurance Company

It is good to know that L&T Finance Ltd, a 100% subsidiary of Larsen & Toubro Ltd (L&T), will not be partnering with any foreign entity to float the venture for General Insurance Company

The announcement to foray into general insurance business is expected in the next few months.