How to Port Health Insurance Online?

Buying a new health insurance plan is a tiresome process. After much research and consultations, we finally settle down for the one plan which we feel is most suitable for our needs. Only to realize it later that there are many loopholes in the purchased insurance policy. So, if you have opted for an insurance plan that is not working out well for you, it can be ported to another plan or insurance company. This article will guide you through the process of porting your online health insurance from one company to another or a different plan. Let us begin!

Step-by-Step Process to Port Health Insurance Policy Online

The process of porting health insurance online is simple, and we will try to explain it using four easy steps.

1. Compare and Find a Suitable Health Insurance Cover

Before applying for health insurance portability online, the fundamental step is to find a new and better policy than your existing one. To do so, you will have to widen your research and contact as many insurance companies as you can to know about their plans that can be beneficial for you. Some of the things that you must consider while doing your research are:

1. The benefits and coverages of the policy.
2. Annual or monthly premium amount.
3. The claim process.
4. The waiting period clause.
5. No claim discounts.

2. Check Out the Documents Required for the Process

Once you have found a policy or insurance company that is fulfilling all your requirements and is a better alternative than your current policy, you can further move to the next step. Ask an executive from your existing as well as new insurance company about all the documents that are required for porting your online health insurance. Typically, the following are the list of documents required at the time of portability of health insurance.

1. A copy of the renewal notice of the existing insurance.
2. No claim declaration form (if applicable).
3. Age proof.
4. In case of a claim: investigation, discharge summary, and follow-up report copies.
5. Copies of past medical history along with any treatments undertaken.

3. Online Procedure to Port Health Insurance

You need to go through the following process if availing of health insurance portability online:

1. Intimate your existing insurer about the portability 45 days before the expiry of the insurance policy.
2. Send a portability request to the new insurer.
3. The new insurer will then provide a proposal and portability form along with details of their various insurance plans.
4. Select a plan that suits you the most and submit duly filled portability and proposal forms to the new insurer.
5. The new insurance company will then contact your existing insurer to check and cross-verify your details such as medical records, claim history, etc.
6. Your existing insurer is supposed to provide all required details to the new insurer through IRDA data-sharing portal in a time period of seven days.
7. Once all the information is updated, your existing policy is ported to the new insurer, and the process must be finished within 15 days.

4. Go Through the Final Checklist

Once you are through the portability process, check out the final checklist to ensure your health insurance portability online process is done accurately without any errors. Have a word with your existing insurer and specifically ask if your policy is completely closed from their end and if there are any pending payments or documents required to be submitted. Likewise, speak with your new insurer and check if all details are entered correctly, and any more documents are needed. Once you get a green signal from both, you can restfully wait until the porting process is done. Also read: Everything You Need to Know about Health Insurance Portability

Conclusion

How to port health insurance online shouldn’t be a complicated question anymore. All the information you must know has been already provided above. All you need to do now is find a new insurer where you want to port your existing policy. Still, if you have any doubts, you can consult our insurance experts for the required information.

Frequently Asked Questions (FAQs)

1. Are there any age criteria to be eligible for portability?

The eligibility age for portability may depend on the new policy terms, conditions & guidelines.

2. Do I get the benefits of my existing policy when porting?

Yes, you are entitled to receive the benefits of your existing policy. However, there may be a few changes as per your new insurer guidelines.

3. How do I port my health insurance from one company to another?

To port your health insurance, inform your current insurer 45 days before policy renewal. Choose a new insurer, fill out a proposal form, and submit required documents, including medical history. The new insurer will review your application and approve it based on their terms.

4. Is porting allowed in health insurance?

Yes, porting is allowed. You can switch insurers while retaining benefits like waiting periods, provided the process is initiated before your existing policy expires.

5. What are the disadvantages of porting a mediclaim policy?

1. Potential delays in approval.
2. Limited coverage options with the new insurer.
3. Higher premiums or restricted benefits may apply.