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Policyholders have to pay more premium if COVID-19 treatment rates not capped: Insurance companies

Insurance companies, which are already troubled by the overcharging of hospitals amid the coronavirus disease (COVID-19) pandemic outbreak, have now said that customers should be prepared to pay several times more premium for their health insurances if they expect insurance companies to pay their entire hospital bills.

Currently, a case over the capping of hospital bills is on at the Supreme Court, where the hospitals have appealed that the insurance companies should be willing to pay the full amount as claimed for the medical treatment. Meanwhile, the insurance companies ar all set to present their appeal as well.

The insurance companies maintain that customers need to pay further premiums on their medical insurances and that affordable charging on part of hospitals will actually increase the total amount as the claim. The companies are prepared to submit their demand before the Supreme Court in this regard.

Meanwhile, the hospitals have appealed insurance companies should pay the full amount of medical treatment bills and that they should not cut claims.

Currently, insurance companies are providing claims based on fixed rates, but the use of advanced equipment like PPE kits often ends up raising the total claim amount.