The user shared their experience of a significant increase in premium for HDFC Ergo’s health insurance policy, from 34,024p.a to 46k, due to the discontinuation of their previous policy in favor of Optima restore. They expressed concern about future increases in premiums when their mother turns 60. The user sought advice from the community regarding their experience with similar changes and recommendations for porting to other providers. The community responded with shared experiences of premium hikes and caution about porting due to potential issues with pre-existing illnesses and waiting periods. Some suggested staying with HDFC Ergo due to the benefits of the restore feature and potential future reductions in GST. The discussion also touched on the impact of COVID-19 on health insurance premiums and the need for a good advisor to navigate the complex industry.
The user’s experience highlights the challenges faced by policyholders when insurance companies discontinue existing plans and introduce new, more expensive ones. The community’s responses emphasize the importance of considering factors such as pre-existing illnesses, waiting periods, and potential benefits when deciding whether to port to a new provider or stay with the current one. The discussion also underscores the broader issues affecting the healthcare industry, such as the impact of medical inflation and the role of government-run hospitals in reducing price gouging by private hospitals.
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