How to Port Health Insurance?

Guide to Health Insurance Portability

Health insurance portability is a process through which an individual can change their insurance policy from one provider to another. This can be done only at the time of renewal. 

The distinguishing benefit of portability is that you can continue the benefits of the existing health insurance policy while carrying forward the waiting period.

Porting your health insurance plans from one provider to another involves some basic steps:

●Explore Options Early

Before initiating the porting process, communicate with your current provider at least 45 to 65 days before the process expires. This timeframe ensures a smooth transition without any break in coverage. Also, use this time for checking eligibility, researching the new insurance provider, filling up the form, and providing the essential documents.

●Fill Up the Portability Form  

Once you have chosen the new provider, you will get a portability form to fill out. Choose the new plan you want to port your policy into. The form requires information regarding the current policy and claim history, identity, and address verification. Verify all details carefully to avoid delays or rejection.

●Submit the Portability Form to Your New Provider

Submit the completed portability form along with KYC documents and a copy of your existing policy to the new insurer. Make sure to double-check the details to avoid unwanted rejections.

●Wait for the Approval 

The new insurance provider has every right to decide whether they want to approve or deny the porting request. The insurer must process the porting request within 15 days. If the insurer fails to process the request within this period, they must accept the porting and provide continuity of benefits. The insurer will also check the medical records from the existing insurance provider.

●Review the New Policy’s Terms and Conditions

Once the form is approved, you will receive the new set of terms and conditions from your new provider. Review the terms carefully. If satisfied, notify your previous insurer about policy port out.

Health insurance portability allows individuals to change their existing insurance company to purchase a better health insurance policy or receive the best service.

So, what is the right time to switch insurance providers?

Opting for the right health insurance policy ensures you are financially covered during a medical emergency. If your current plan no longer meets your healthcare needs or you are dissatisfied with your insurer’s service, opting for portability becomes a suitable choice.

The following are the reasons that may lead you to consider portability as a sustainable alternative:

●Easing Complications in Process

If your current policy is complicated or difficult to manage, you can switch to an insurer offering simpler and better service. You can check which insurance providers align with your medical needs. 

●Better Facilities 

If the customer service, network hospital availability, policy benefits, or terms and conditions offered by your current insurer are not satisfactory, porting your health insurance policy can be a beneficial option

●Lower Premiums 

Portability gives policyholders the opportunity to reassess their premiums and coverage, allowing them to shift to a policy that offers higher coverage at a comparatively lower premium.

Also Read:

→ How to Transfer Health Insurance from One Company to Another

→ How to Verify Active Health Insurance Status

→ How to Write a Letter to a Health Insurance Company for a Claim

→ Is Health Insurance Tax Deductible in India

→ Is Medical Checkup Required for Health Insurance