In his circular dated January 30, 2025, IRDAI said that older people are among the most vulnerable age groups and are negatively affected every time there is a strong increase in health insurance premiums.
According to IRDAI, in the event that the insurer proposes and inform irdai about it.

The circular establishes that “Section 14 of the Law of the Insurance Regulation and Development Authority Health, offering individual health insurance products based on compensation to older citizens, to take the following steps, with immediate effect:

a) Insurers will not review the premium for older people in more than 10% per year.
If the proposed increase in the premium for older people is more than 10% per year.
In case of withdrawal of individual health insurance products offered to the elderly.

c) Insurers must provide broad advertising of the various measures (including the above) taken for the benefit of older people while offering health insurance products.

d) The insurer will take the necessary measures for the common gauge of hospitals and negotiate packages rates in the PMJAY scheme lines. “

According to Dr. Sabine Kapasi, co -founder and MD of Enira Consulting Pvt Ltd. and Global Health Advisor At Nun. With disabilities, and 75% of the elderly suffer chronic diseases, according to the findings reported by the Longitudinal Aging Study of India (LASI).

“Because the premiums reach considerably high with age, by the time they were 50 or 60 years old, they had become a significant expense, which becomes a significant problem for them,” he adds.

Anantaram Varayur, co -founder of Manasum Senior Living, adds that the greatest challenge for older people is the availability of health insurance. Many companies do not provide this to older people. Even if they provide premiums, they are exorbitantly high. “In addition, despite paying a great cousin, some of her lifestyle diseases are covered only after a certain blocking period.

Hanut Mehta-Ceo and co-founder of Bimapay Finsure, “by limiting premium increases by a maximum of 10% per year, the regulation introduces the predictability of prices, ensuring that older people are not loaded with pronounced cost climbs. This measure will help insurers.

In his circular, IRDAI has also encouraged insurers to adopt standardized hospital packing and negotiate packages, which is similar to what is currently under Pradhan Mantri Jan Arogya Yojana (PMJAY). As Mehta adds, the industry can mitigate inconsistencies in hospitalization costs, which leads to better financial management for insurers and making medical care services more affordable and accessible to the insured of the elderly.

With the medical inflation that currently rises to 14%, Shilpa Arora, co -founder and director of Operations of Insurance Samadhan, points out that this movement provides great relief for the elderly who fight to keep up with the high costs of medical care. “The IRDAI has intensified in response to the growing complaints of the elderly about the acute increases in the premium of up to 50-60%, which makes it more and more than the health coverage. Insurance premiums.