What is GIPSA insurance?

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‘GIPSA’ stands for ‘General Insurer Public Sector Association’ of India.  This organization is a cooperation among the four, public, general insurance organizations to help Indians acquire health care services with standardized rates across accredited hospitals. GIPSA was formed out of a need to make some reforms in terms of healthcare services rates throughout India’s hospitals and health facilities in different regions and cities.

Without GIPSA, various people in India are forced to purchase healthcare services from hospitals and clinics with astoundingly high rates.  The other problem is that the rates for some services are not consistent with other facilities that are located in other cities.  Many people have clamored for rate standardization because some are just too economically challenged to obtain their needed healthcare services. With no regulatory board, various healthcare facilities across India can basically charge people what they want without taking into consideration the capacity to pay of various patients.  With this great concern, the government has eventually formed the GIPSA alliance to provide the people with affordable and standard rates.  GIPSA is basically tasked with helping lower health insurance premium rates to benefit more people in India, especially those who are Mediclaim policy holders.

GIPSA provides insurance not only for Indians in their own country but also for those who are working and living abroad through the OSP, or Overseas Service Provider program.  With this program, all Indian citizens can still obtain their healthcare benefits even when they are residing in other countries.  Similar to the policies within India, healthcare facilities that are located overseas must also meet certain criteria and standards to become part of the GIPSA network.  This is to ensure that quality services are offered to eligible Indian Mediclaim beneficiaries.

The role of GIPSA is not without controversy, though.  Many people have claimed that insurance premiums under GIPSA are even higher when compared to generic and private insurance companies.  Some people have even argued that GIPSA is no more than a profit-making company rather than a company formed to ease the health insurance concerns of the people.

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