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Mint
26-06-2025
- Business
- Mint
Should you buy OPD insurance? Get the complete lowdown to help you decide.
Imagine this: you have some health issues and visit a doctor. She prescribes you medicines and a couple of diagnostic tests. You pay a good amount of money for the doctor's consultation, medicines and tests, and wonder whether your health insurance policy will cover it. Well, here's the bad news: most health insurance policies do not cover outpatient department (OPD) expenses. According to a report by India Insurtech Association, India's OPD spending amounted to a massive $37.7 billion in FY24, of which retail OPD insurance accounted for less than 0.1%. Noting this gap, insurers have of late started to offer OPD coverage and healthcare startups have also entered the space, providing OPD subscription plans directly to customers or via employers. Here's a lowdown of what all is available. OPD plans from insurers India's OPD market is highly fragmented, so providing coverage is difficult. The high chances of billing fraud can't be ignored, so insurers prefer to offer OPD coverage on a cashless basis, allowing you to only visit their network partners for doctor consultations and diagnostics. Some insurers may agree to reimburse the cost incurred at non-network facilities as well. Among popular plans, as shared by ICICI Lombard's Elevate comes with an OPD+ rider. The premium varies by age. A 35-year-old male must pay ₹4,980 annually for ₹10,000 OPD coverage in a year. The plan only works on a cashless model and has no sub-limits on procedures such as dental and vision. Bajaj Allianz's Health Prime and Niva Bupa's Acute-Best Care offer both cashless facilities and reimbursements. The former has a premium of 2,062 for ₹15,000 coverage while latter costs ₹4,801 for ₹10,000 coverage for a 35-year old individual. Niva Bupa's Well Consult-OPD puts a co-payment of 20% if a policyholder files for reimbursement. Star Health Insurance has a standalone OPD insurance policy that allows cashless and reimbursement only for accident-related emergencies. A 35-year old individual will pay ₹4,802 for ₹25,000 coverage. This plan has a waiting period of 1-3 years for OPD expenses of pre-existing diseases. "Traditionally the OPD plans had sub-limits on doctor consultation, diagnostic tests or pharmacy bills. For example, the OPD sum insured could very well be ₹20,000 but pharmacy bills having a sub-limit of ₹5,000. But insurers are increasingly launching plans with no sub-limits for customers to utilise the OPD benefit in the way they want," said Siddharth Singhal, business head - health insurance, Direct-to-consumer plans Lucknow-based Geeta Srivastava (66) heard about healthcare startup LivLong's OPD plan Eldercare. "The plan costs me ₹12,000 a year. OPD benefits such as medicines and lab tests are restricted to ₹3,000 a year, but there are other useful benefits such as full-body check-up (83 parameters), unlimited consultation with doctors and nutritionists, six consultations a year with specialists and two free ambulance services. Another benefit is having a healthcare manager at my disposal who checks up on me every now and then and helps me with what I require," Srivastava said. Data from LivLong showed they have three plans, priced at ₹5500, ₹6,000 and ₹11,599. "These plans have a perceived value of ₹15,000, ₹16,000 and ₹28,800, respectively," said Gaurav Dubey, founder & CEO, LivLong 365. To be sure, there is no underlying sum insured in LivLong OPD plans. They offer up to 50% discounts on OPD benefits such as consultations, lab tests, diagnostics and medicines, which translate into perceived savings. Healthcare provider Even Health offers OPD insurance in partnership with Magma General Insurance. However, you can't buy standalone OPD cover from them. You need to buy IPD cover (sum insured ranges from ₹3 lakh to ₹1 crore) in which OPD cover of ₹10 lakh will be inlcuded if you pay extra over the premium. People aged 0-35 years can buy it for around 4,500 a year, 36-49 years for ₹10,000 a year, and over 50 for ₹19,000 a year, excluding the premium for IPD coverage. "Our OPD plan works everywhere in the country on a cashless basis. We have partners in every pin code from Lakshadweep to Leh. We not only cover doctor's consultations but also diagnostic (radiology, pathology) and medicines. We offer reimbursement, too, but with 50% co-pay," said Mayank Banerjee, Co founder, Coverage from your employer Companies such as Onsurity and Plum, or for that matter even Even Health and LivLong, curate OPD coverage in partnership with employers to offer it to employees. Noida-based Anmol Bhushan (28) works with a financial services firm as an actuarial consultant. His employer offers OPD benefits as part of its wellness services. He pays ₹11,000 per year to insure himself and his parents for a maximum benefit of ₹21,000. "The plan has a co-payment of 10% for me and 20% for my parents. Each year I manage to avail of at least ₹18,000 benefit," said Bhushan. Data from Onsurity shows their wellness OPD plans cost a minimum of ₹145 more per member per month and can go up to ₹4,500 or more based on the features. "Pricing retail OPD plans at a low cost is difficult because the utilisation will be high in those plans. We offer it to them via employers so that the utilisation is comparatively lower and we can keep the pricing viable," said Suman Pal, chief claims officer at Onsurity. Can't argue with free Some employers offer the benefit to employees for free. Mumbai-based Dipen Chheda (50) for example, used it while he was working with his previous employer. "The challenge in that plan was the limited number of associated partners. If I have to take doctor consultation and no network doctor is available nearby, it does not make sense for me to go far. Similarly, nearby chemists also offer discounts on medicines. Sometimes those are better than what OPD cover offers," he said. For Bengaluru-based Shobhit Katikia (27), the experience has been great. "We get a flat coverage of ₹20,000 per year from our employer. I don't have to pay for it. It covers me and my parents. I availed the claim twice in the past two years – for dental treatment that included the procedure and medicines in the first year, and for new glasses in the second year. The cost of the eye check-up, frame and lens was all covered," he said. In his case, he could choose any doctor or pharmacy and file for reimbursement. "The claims were approved in 24 hours," he said. Should you buy an OPD plan? Well, it depends on the cashless network the platform provides, and the sub-limits. "We have noticed that doctors empaneled with different such platforms may just have an MBBS degree and not really be specialists. The way the OPD market works is people may want to visit specialists and diagnostic centres of their choice. We are in the process of launching retail OPD cover, which will address these issues," said Saurabh Vijayvergia. founder & CEO, CoverSure. Mint's take India's OPD insurance market is at a nascent stage. While employer-linked OPD cover offers decent benefits, there are very few direct-to-customer options from healthcare startups. There is greater variety in policies offered by insurers. Whichever option you choose, sub-limits on various benefits make such plans restrictive. You could considering buying it to giving it a try if you can afford it.
Business Upturn
14-06-2025
- Health
- Business Upturn
Niva Bupa Health Insurance Celebrates Father's Day with #World'sMostResponsibleDad Campaign
New Delhi, Delhi, India: Partners with Blinkit to distribute specially designed greeting cards across Delhi, Gurgaon, and Mumbai to select buyers. Ropes in renowned author and influencer Durjoy Dutta to reach out to young fathers. Niva Bupa Health Insurance Company Limited has launched a campaign – #World'sMostResponsibleDad on the occasion of upcoming Father's Day to celebrate the unwavering commitment and responsibility of fathers to secure their family's health and future. Fathers are usually the fulcrum around which the entire family revolves. They are natural providers who often go out of the way to keep their family happy and safe. However, as per a consumer immersion conducted by Niva Bupa, only about 20% of fathers currently hold a health insurance policy. This data is a stark reminder that while fathers are doing everything for the wellbeing of their family, they are not taking charge of their own health which is so crucial in ensuring that their family's future is secure. #World'sMostResponsibleDad campaign is rooted in a powerful consumer insight: New fathers often feel an overwhelming sense of responsibility. They often tend to priorities their loved ones' needs over their own. From juggling meetings to make time to spend with their newborn, to changing baby diapers and packing lunchboxes, fathers go the extra mile to keep their family happy. As young fathers navigate their schedules while performing their 'father duties', it can lead to stress that can impact their health. What fathers don't realize that if their health suffers, it can affect not just them but the whole family they work so hard to protect. The campaign acknowledges that while fathers may make small everyday mistakes, what truly matters is getting the big things right, like securing their own health with health insurance and thus ensuring that family's future is protected. Taking this responsible step ensures peace of mind and financial security, safeguarding the entire family against unexpected health challenges. Fathers embracing health insurance set a strong example of care and preparedness, reinforcing their role as protectors and providers in the family. As part of this campaign, Niva Bupa has partnered with Blinkit to distribute specially designed greeting cards across Delhi, Gurgaon, and Mumbai to buyers of diapers, baby food and other kids related items on Father's Day weekend (June 14th & 15th). The greeting card has heartwarming message along with playful checklist to help dads reflect if they qualify as the #World'sMostResponsibleDad. For this campaign, Niva Bupa is also collaborating with renowned author and influencer Durjoy Dutta to amplify the message to new fathers and families on Instagram and other digital platforms. This collaboration will ensure that the campaign reaches young fathers who are stepping into the journey of responsibility and are keen to secure their family's health and future. Speaking about the initiative, Nimish Agrawal, Director – Digital Business Unit & Chief Marketing Officer at Niva Bupa Health Insurance, said, 'At Niva Bupa, we understand that a father's true responsibility goes beyond the daily hustle—it's about ensuring the long-term health and well-being of the family. This campaign is our way of nudging fathers to prioritize their own health for the sake of their family's future. Health insurance is a fundamental step towards safeguarding the future and ensuring peace of mind for the entire family.' The campaign underscores the importance of health insurance in a father's toolkit of responsibility. By securing health insurance, fathers not only protect themselves and their loved ones but also provide a shield for their family's future. Niva Bupa Health Insurance empowers families to face life's uncertainties with confidence. Here is the Campaign link for your reference: About Niva Bupa Advertisement Niva Bupa Health Insurance Company Limited is a Public Listed Company on Stock exchange(s). The company's purpose is to give every Indian the confidence to access the best healthcare. It intends to play the role of an enabler in the lives of its customers and help them live life without constraints. This is reflected in its brand philosophy – 'Zindagi Ko Claim Kar Le'. As of March 31, 2025, Niva Bupa has over 212 physical branches across India. It additionally offers health insurance through its ecosystem partners including 1.8+ Lakh agents, 540 brokers, and over 100 Banca & Other Corporate Agency Partners. The company currently covers 20 million+ lives and has 10,421 hospitals empanelled in its hospital network. Niva Bupa has consistently maintained 90%+ claim settlement ratio over the last 4 financial years, having ended FY25 with claim settlement ratio of 92.4%. With an employee base of over 8,900 people, the company is a certified Great Place to Work five times in a row. Click here for Media Contact Details Submit your press release Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
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Business Standard
02-06-2025
- Business
- Business Standard
Niva Bupa share price drops 11% in trade on Monday, June 2; here's why
Niva Bupa share price fell on the back of a huge block deal. As soon as the market opened, 198.30 million or 10.85 per cent of total equity of Niva Bupa at ₹82.4 worth ₹1,634 cr changed hands on BSE SI Reporter New Delhi Niva Bupa share price: Health insurance company Niva Bupa share price was under pressure on the first trading day of June i.e. Monday, June 2, 2025, with the stock dropping up to 11.14 per cent to an intraday low of ₹82 per share. At 9:54 AM, Niva Bupa share price was trading 9.73 per cent lower at ₹83.30. In comparison, BSE Sesex was trading 0.75 per cent lower at 80,840.11 levels. Why did Niva Bupa shares drop in trade today? Niva Bupa share price fell on the back of a huge block deal. As soon as the market opened, 198.30 million or 10.85 per cent of total equity of Niva Bupa at ₹82.4 worth about ₹1,634 crore changed hands on BSE. By 10:01 AM, 232.73 million shares worth ₹1,919.84 crore had changed hands on BSE. According to reports, Fettle Tone and Krishnan Ramchandra were likely to offload a 7.2 per cent stake in Niva Bupa Health Insurance Company Ltd. Niva Bupa Q4 results Niva Bupa Health Insurance Company's consolidated profit after tax (PAT) rose 31 per cent year-on-year (Y-o-Y) to ₹206 crore in Q4FY25, from ₹157 crore in the same period last year (Q4FY24). Gross premiums written rose 18 per cent to ₹2,078.65 crore, compared to ₹1,759 crore in Q4FY24. Net premium income for the quarter stood at ₹1,672.11 crore, up from ₹1,152.43 crore a year earlier. Net income from investments came in at ₹93.78 crore during the quarter, compared to ₹67.91 crore in the year-ago period. The company's solvency ratio improved to 3.03 in FY25 from 2.55 in FY24, indicating strong financial health and an enhanced ability to meet long-term obligations. About Niva Bupa Niva Bupa Health Insurance Company is one of India's leading standalone health insurers, formed as a joint venture between Bupa, a global leader in healthcare services, and Fettle Tone LLP, an affiliate of True North Fund VI LLP, a prominent Indian private equity firm. The company is dedicated exclusively to health insurance, offering a diverse portfolio of plans tailored for individuals, families, and senior citizens. With a focus on delivering accessible and high-quality healthcare, Niva Bupa combines global expertise with a deep understanding of the Indian market. The company provides a comprehensive suite of services including hospitalisation cover, day-care treatments, outpatient care, and maternity and senior citizen plans. It boasts a robust network of over 8,700 hospitals for cashless claims and offers added conveniences like unlimited teleconsultation and 24/7 digital support through its health app and Insta Assist platform. With a widespread distribution network across 350 cities and partnerships with over 35,000 bank branches, Niva Bupa continues to strengthen its presence in the health insurance sector while prioritising customer-centric service and innovation.
Time of India
02-06-2025
- Business
- Time of India
Niva Bupa shares fall 11% as PE investor sells 12% stake in block deal
Niva Bupa shares: ETNOW had reported that Fettle Tone LLP, an investment arm of True North, was likely to offload up to 122 million shares, representing about 6.7% of Niva Bupa's equity. Additionally, CEO Krishnan Ramachandran was expected to sell around 10 million shares, or 0.5% of the company's stake. The shares were priced at ₹82 each, valuing the total deal at approximately ₹1,082 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Niva Bupa Health Insurance slipped as much as 11.1% on Monday to Rs 82 on the BSE after a large block deal involving a 12% equity stake saw 56.3 lakh shares change hands, as per of the trade, on June 1, ET NOW reported, citing sources, that homegrown private equity firm True North and Niva Bupa's Managing Director and CEO, Krishnan Ramachandran, were set to offload a combined 132 million shares in the health insurer through a block had also reported that Fettle Tone LLP, an investment vehicle of True North, was expected to sell up to 122 million shares, or roughly 6.7% of Niva Bupa's equity. CEO Krishnan Ramachandran was likely to dilute 10 million shares, equating to around 0.5% of the company. The offer price was set at Rs 82 per share, pegging the total size of the transaction at around Rs 1,082 on the latest shareholding pattern as of March-end, the company's promoter Bupa holds 55.98% stake, while True North holds 17.47% via Fettle Tone Bupa reported a 31.2% year-on-year rise in net profit for the March quarter, posting Rs 206 crore compared to Rs 157 crore in the same period last year. Gross premiums increased 18% to Rs 2,078.7 crore, while net premiums climbed 21% to Rs 1,672 the insurer's underwriting profit slipped 12.2% year-on-year to Rs 57.6 crore from Rs 65.6 crore. Operating profit also fell sharply by 43.1% to Rs 94.9 crore from Rs 166.8 crore in the year-ago period. Its solvency ratio stood steady at 3.03% on a sequential Bupa Health Insurance listed on Indian stock exchanges in November 2024, marking the first domestic listing of a pure-play global MNC health insurer backed by British firm Bupa. In September 2023, True North ceded control to Bupa by selling a 20% stake for approximately Rs 2,700 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
02-06-2025
- Business
- News18
Libra Horoscope Today, June 2nd, 2025
Last Updated: Libra Daily Horoscope, June 2nd, 2025: Reconnect with old contacts — new financial doors may open. Harmony, support, and steady progress make today a rewarding chapter. Libra Daily Horoscope Today, 2nd June 2025: Ganesha says in the world of finance today, you should try to revive some old business or personal contacts who may be able to give you some more options for earning money. These will help a lot in breathing life into your business. Today, people associated with the foreign service will get special benefits. Completion of any incomplete work will improve your financial situation. New associates in business will prove beneficial. Libra Horoscope Today: Astrological predictions by Chirag Daruwalla for tula rashi on June 2nd 2025. Subordinates in the job will prove beneficial. Business activities and trade will gain momentum. Business efforts will be successful. Proposals will get support. The focus will be on organization. The goals will be clear. Progress will continue without hesitation. A fast pace will be maintained. The environment will be positive. Responsible colleagues will be cooperative. Promises will be fulfilled. Patience will increase. Lifestyle will be attractive. You will work actively. Confidence will remain high. Work efficiency will improve. Health will be good. Enthusiasm will increase. Check out your daily horoscope for June 2, 2025 here. advetisement Libra Horoscope Today, June 2nd, 2025 Positive: Ganesha says you will have a special contribution in home and society-related activities. Also, any of your activities and abilities will be appreciated. You will remain satisfied with your efforts. There will also be a program to visit a religious place with the family members. Negative: Instead of giving in to stress in any adverse situation, try to find a solution to it. Today, some such expenses may come up, from which it will be difficult for you to get rid of. Women may have some kind of complaint with their in-laws. But it is important to avoid spoiling the relationship. Business: Libra, adopting new methods in business and trade will give momentum to the business. Due to the current situation, some problems and troubles will come up. But soon they will also be resolved. It is important to take care of confidentiality at work, otherwise, someone can take undue advantage. Love: There will be a harmonious environment in the home and family. The ongoing misunderstandings between the lovers will be resolved. And there will be sweetness in mutual relations again. Health: Due to fatigue, cervical and shoulder pain may increase. Do take out some time for yoga and exercise. top videos View All Lucky Colour: Pink Lucky Number: 9 (The author Chirag Daruwalla is the son of Astrologer Bejan Daruwalla). About the Author Chirag Daruwalla First Published: News astrology Libra Horoscope Today, June 2nd, 2025 Latest News Niva Bupa Shares In Focus as Promoters Plan 7.2% Stake Sale Via Block Deals On Monday Markets Astrology Libra Horoscope Today, June 2nd, 2025 Astrology Virgo Horoscope Today, June 2nd, 2025 Astrology Leo Horoscope Today, June 2nd, 2025 Astrology Cancer Horoscope Today, June 2nd, 2025 latest news
