KOLKATA (Sify News), October 7, 2007:

The committee on health insurance for senior citizens, set up by Insurance and Regulatory and Development Authority is likely to submit its recommendations by November 7. The committee was formed in May to tackle issues relating to health insurance for the aged who needed special focus as they were more vulnerable and fell in the high risk category. Mr. K. S. Sastry, ex-Chairman of National Housing Bank heads the panel.

"We will submit our report latest by November 7," member of the committee B D Banerjee said on the sidelines of an interactive session on health insurance organised by the Bengal Chamber of Commerce and Industry.

IRDA has also received representations relating to entry barriers for the senior citizens, refusal of renewals, imposition of harsh terms without justification, sharp increase in premium rates and delay in servicing claims.

Concerns have also been voiced on matters relating to issue of policies as well as claim servicing of the health insurance policies.

Banerjee said IRDA has recommended maximum rise in health premium should be around 50-70 per cent but the tariff had jumped over 200 per cent.