Shocking Revelation: 50% of Health Insurance Claims Rejected in 3 Years - Know the Top Reasons
A recent survey has uncovered a disturbing trend in the Indian health insurance sector, with nearly 50% of claims being rejected over the last three years. According to a report by the Insurance Regulatory and Development Authority of India (IRDAI), a staggering 11% of health insurance claims were denied in FY24, resulting in a whopping ₹26,000 crore in repudiated claims. This alarming statistic has left many policyholders worried about the efficacy of their health insurance plans. The top 5 reasons for claim rejection include policy lapses, pre-existing conditions, and lack of documentation. With the rising cost of healthcare in India, it is essential for individuals to understand the terms and conditions of their health insurance policies to avoid claim rejections. By being aware of the common reasons for claim denial, policyholders can take necessary precautions to ensure a smooth claim settlement process. Key phrases like health insurance claims, claim rejection, and insurance regulatory authority can help individuals find relevant information on this critical topic.
