September 9: Non-life insurance companies in Nepal are soon going to launch cashless health insurance. 

After the new system is launched, when a policyholder goes to a hospital for treatment, the policyholder will not have to pay fees. The system has already been adopted by various countries around the world, including India. The potential for such a scheme in Nepal is immense, and that is the reason insurance companies are attracted towards it, company managers say.

A total of 17 non-life insurance companies are in operation in Nepal; they provide fire, aviation and housing insurance, among others. The companies have now started showing interest in health insurance.

Birendra Baidawar Chettri, CEO of Siddhartha Insurance, says insurance companies are interested in cashless health insurance as many people are deprived of proper medical care because they do not have cash when required.

Insurance companies that are going to launch the new cashless system say that it would be different from the existing health insurance schemes as it will give more facilities to policyholders.

Which companies are launching the scheme?
Siddhartha Insurance has said it will roll out a scheme in a few days. The company has already signed deals with 15 hospitals, including Norvic, Grande, Alka, Blue Cross and B&B. Siddhartha’s CEO Chhetri says  the company will soon sign similar deals with several medical colleges.

National Insurance Company is also planning to launch a similar scheme in the near future. The company has said the scheme will soon be available for employees off corporate companies. Implementing the scheme would not be easy for the company, but it is in the interest of the public, says CEO Dr Pronab Sen. He says National Insurance has signed an agreement with Grande Hospital to implement the scheme.

How will it work?
The new scheme will be different from the health insurance that is available in the market right now. Under the existing provisions, a policy holder gets reimbursed for his medical expense after the policy holder produces a bill. But when the new system is implemented, the policy holder can use a card issued by the insurance company to settle the bills.