Health insurance sector records strong growth momentum with premiums exceeding ₹1.2 lakh crore in 2024-25
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Summary: India's health insurance sector grew at ~9% in 2024-25, with total premiums exceeding ₹1.2 lakh crore. IRDAI has prescribed specific timelines for processing cashless health insurance claims: cashless pre-authorisation within 1 hour, final discharge within 3 hours, and settlement of all claims (including reimbursement) within 30 days. These regulatory measures aim to ensure efficiency and fairness for policyholders. UPSC Relevance: Health financing is a key governance theme under GS2 (health policy, social justice). India's health insurance penetration remains low despite the Ayushman Bharat scheme, and rising premiums alongside regulatory reform is a Mains-worthy topic. IRDAI as a statutory body falls under the Prelims category for "Various Bodies". For Prelims: IRDAI = Insurance Regulatory and Development Authority of India; Health insurance premiums exceeded ₹1.2 lakh crore in 2024-25; Growth rate: ~9%; Cashless pre-auth timeline: 1 hour; Final discharge: 3 hours; Claim settlement: 30 days. Key term: IRDAI — statutory regulatory body for insurance sector in India, established under the Insurance Regulatory and Development Authority Act, 1999.
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