Talks Begin For Independent Healthcare Regulator Backed By GIC & IRDAI

The General Insurance Council (GIC) and the Insurance Regulatory and Development Authority of India (IRDAI) are discussing the creation of an independent healthcare regulator with the central government.

The proposed body would function similar to sectoral regulators like IRDAI, SEBI, and RBI. GIC CMD Ramaswamy Narayanan cited concerns over “fraudulent practices” and “discriminatory pricing” by hospitals based on patients’ insurance status. He noted hospitals often charge insured patients significantly more than uninsured ones, leading to inflated costs and higher premiums. A National Health Authority report under Ayushman Bharat also observed similar discrepancies in billing practices. Meanwhile, the government has proposed raising the foreign direct investment limit in the insurance sector from 74% to 100% in the 2025-26 budget session.