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Insurance is the best safeguard that has become a necessity to protect people against uncertainties and risks in the present times. These include risks against health, life, motor, travel and more. The General Insurance Public Sector Association, popularly known as GIPSA in short, is an association that represents the public sector insurance companies in the country.
GIPSA comprises four general insurance providers in the country namely;
Customers can avail of cashless treatment facilities in the network hospitals of the above public sector insurers spread across 12 Indian cities. The features, premiums, and other facilities offered under these public sector insurers are decided by GIPSA. The network hospitals under GIPSA provide special rates for specific treatments approved by the organization.
The ailments covered by public sector insurers under GIPSA include;
The policies offered by these insurers have so far benefited as many as 6 crore policyholders.
GIPSA stands for General Insurance Public Sector Association. It is a group of four General insurance companies.
GIPSA comprises four public sector general insurance companies, such as New India Assurance Company Ltd., United India Insurance Company Ltd., Oriental Insurance Company and National Insurance Company Ltd. In this post, we will understand what GIPSA is and how it works to benefit the public.
As already mentioned, general insurance public sector association is an association of four public sector general insurance companies offering cashless healthcare services to policyholders in some specific hospitals across 12 cities in India. The rates at which medical treatment packages are offered under these hospitals is decided by GIPSA.
The band of hospitals offering treatment at GIPSA approved rates comes under the list of PPN hospitals or the Preferred Provider Network hospitals.
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The thing about GIPSA is that this is a set of group insurance companies that allow a specific price band for their customers with a limited cashless offer. Further, the services are available at a specific and limited number of health care centers and hospitals. These hospitals come under the Preferred Provider Network (PPN) of GIPSA and serve their customers at the price band decided by GIPSA. So far, as many as 5.48 Crore policyholders have benefitted by GIPSA insurance policies.
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Under GIPSA, the policyholder can get coverage for several diseases like kidney stones, appendicitis, cataract, angioplasty, hysterectomy and so on. Here, the hospitals that come under the GIPSA network or PPN will cover the medical treatment under the price band that is decided by GIPSA.
The policyholder getting protection under GIPSA policy must note some relevant points as mentioned below:
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Here are some points to be considered by GIPSA policyholders:
Interested hospitals willing to join the PPN or the Preferred Provider Network of GIPSA to provide cashless treatment to the insured can do so by submitting a form of GIPSA empanelment. They are also required to submit other important documents as required for the process along with the form to the insurer they want to join.
Once GIPSA approves the proposal, hospitals can start offering cashless treatment to patients insured under the Group Health Insurance Policy. The GIPSA PPN network has as many as 550 hospitals in India.
The consumers availing a health policy under GIPSA can benefit from a reasonably priced group health plan. So, if you are living in any of the above mentioned 12 cities, you can benefit from a GIPSA policy by buying an insurance policy from any of the four insurers that form GIPSA.
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GIPSA provides cashless services in hospitals that accept their policies and prices and are Preferred Provider Network (PPN) members. It requires hospitals to follow GIPSA guidelines and work with standardised rates. Those who accept this fall under the jurisdiction of GIPSA and are known as PPN.
GIPSA full form is General Insurance Public Sector Association. It is an association of four public sector general insurance companies, as the name implies: The New India Assurance Company Ltd, National Insurance Company Ltd, Oriental Insurance Company Ltd and United India Insurance Company Ltd.
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