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Ayushman Bharat scheme: Why senior citizens over 70 need separate health insurance covers despite PM-JAY

Money ControlMoney Control · 9m ago
Ayushman Bharat scheme: Why senior citizens over 70 need separate health insurance covers despite PM-JAY
Medial

The government of India has extended the Ayushman Bharat-PM-JAY health insurance scheme to include senior citizens over the age of 70, regardless of income levels. While this move is seen as a boon for those who cannot afford or obtain health insurance due to pre-existing conditions, it is not meant to replace independent health covers. The government's scheme may have limitations, such as treatment being limited to empanelled hospitals and long waiting times, whereas independent covers offer higher coverage limits and access to a wider range of treatments. Therefore, it is advisable for senior citizens to maintain their independent health insurance policies in addition to the government scheme.

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Care.fi raises Rs 6 Cr debt round from RevX

EntrackrEntrackr · 2m ago
Care.fi raises Rs 6 Cr debt round from RevX
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 6 crore in debt funding from RevX. The proceeds will be used to strengthen its operations around the Ayushman Bharat scheme, which now covers over 550 million beneficiaries and includes more than 29,000 empanelled hospitals as of June 2024. Founded by Sidak Singh and Vikrant Agrawal, Care.fi provides tech-enabled financial solutions to healthcare providers. The startup claims to have disbursed over Rs 800 crore to more than 100 hospitals and secured an NBFC license within two years of its inception. Care.fi plans to use its backend operations expertise to support faster claim settlements and improve hospital cash flow management as the scheme becomes more centralized.

Invest Wise | Should you invest in the National Pension System?

Money ControlMoney Control · 1y ago
Invest Wise | Should you invest in the National Pension System?
Medial

The National Pension Scheme (NPS) is a retirement investment option available to all Indian citizens between 18 and 70 years old. It has two tiers, with Tier 1 being a permanent retirement account and Tier 2 being a voluntary account. NPS offers the opportunity to invest in four asset classes, providing flexibility and potential for market-linked returns. The scheme is low cost, portable across employment, tax efficient, transparent, and allows for optimum returns. Additionally, NPS offers unique features such as flexibility in choosing fund managers, tax-efficient systematic withdrawals, and a choice of annuities. However, it is recommended to not put all your retirement funds solely in NPS to ensure liquidity when needed.

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