New Delhi, Jan 14 (PTI) The Finance Ministry on Wednesday launched Paripoorna Mediclaim Ayush Bima for Central Government Health Scheme (CGHS) beneficiaries.
This optional health insurance plan will be available as a retail product for all CGHS beneficiaries, the finance ministry said in a statement.
This policy provides coverage for hospitalization of patients in India on an indemnity basis with a sum assured option ₹10 million or ₹20 lakhs.
“Designed to complement the existing benefits, the enhanced policy will provide a seamless experience with greater flexibility and expanded access to quality healthcare across India, leading to additional financial security with ease and confidence for all CGHS beneficiaries,” the statement said.
The product will have a co-payment component, allowing beneficiaries to choose between 70:30 or 50:50 co-sharing between the insurer and subscribers, the finance ministry said, adding that it will be available at a discount of 28 percent and 42 percent for 70:30 and 50:50 co-sharing, respectively, compared to a regular policy.
Other features to be provided by state-run New India Assurance include capping rent at 1 per cent and 2 per cent of sum assured per day for normal room and ICU respectively.
There is a cumulative bonus of 10 per cent for every claim-free year up to 100 per cent of the sum assured and pre-hospitalization coverage for 30 days and post-hospitalization coverage for 60 days, the statement said.
The Ministry of Financial Services has also launched a composite salary account package for central government employees in collaboration with public sector banks, or PSs. The unified salary account framework provides a one-stop financial solution with integrated banking and insurance benefits for central government employees, the statement said.
This initiative ensures that central government employees, who form the backbone of public administration, get access to modern banking services and comprehensive financial protection through a one-stop solution, she added.
