PhonePe is India's leading fintech company. Phonepe is India's leading consumer payments app, with 520+ million registered users and a digital payments acceptance network of 38 million merchants. PhonePe also processes 230+ million daily transactions with an annualised Total Payment Value of over USD 1.5 trillion.
Additionally, Canara Bank unveiled two new digital initiatives during the event. The first is 'Canara UPI 123PAY ASI', a user-friendly payment interface designed to enhance customer experience. The second is the 'Canara HRMS Mobile App for Staff', an HR management solution aimed at improving operational efficiency for the bank's employees.
The U.S. Centers for Medicare & Medicaid Services (CMS) payments to Medicare Advantage (MA) programs, which serve those aged 65 and older, are expected to increase by 3.7% on average in 2025, consistent with what was published in January.
The U.S. Court of Appeals for the District of Columbia Circuit said the Trump administration had the legal authority to increase the duration of the health plans from three to 12 months, with the option of renewing them for 36 months. The plans do not have to cover people with preexisting conditions or provide basic benefits like prescription drugs.
The Insurance Regulatory and Development Authority of India (IRDAI) has decided to maintain existing surrender values for life insurance policies following concerns raised by insurers. The regulator has also allowed the sale of Index Linked Insurance Products tied to publicly available indexes. Initially proposed higher surrender values in draft regulations were reconsidered due to industry feedback, with IRDAI opting to retain the regulations.
Galaxy Health and Allied Insurance Company Limited is spearheaded by V Jagannathan, the founder of Star Health and Allied Insurance Company, has emerged as the latest addition to the Indian health insurance market. ET had earlier reported that S Prakash, the former managing director of Star Health, has joined Jagannathan in this endeavor, as detailed by ET.
The Centers for Medicare & Medicaid Services' (CMS) new guidance allows states to start making interim payments retroactively to the date when claims payment processing was disrupted due to the cybersecurity incident, the federal health agency said.
Officials from the U.S. Department of Labor and the U.S. Department of Health and Human Services urged UnitedHealth (UHG)to take "responsibility to ensure no provider is compromised by their cash flow challenges stemming from this cyberattack on Change Healthcare." While the letter specifically named UnitedHealth and addressed the recent hack, it also asked other companies in the industry to help.
The cyberattack on Change, disclosed on Feb.21, was perpetrated by hackers who identified themselves as the "Blackcat" ransomware group and has had a knock-on effect on players across the U.S. healthcare system.
The newly introduced Cancer Insurance Policy is specifically designed to provide financial security to women facing the daunting challenges of cancer diagnosis and treatment. With coverage extending to the five major types of cancer affecting women—breast, cervical, ovarian, oral, and colorectal cancer; the policies will provide lump-sum pay-outs upon diagnosis of any of the covered cancers, offering financial assistance ranging from Rs 5, 00,000 to Rs 30, 00,000
The relentless growth in medical technology and innovation has undoubtedly improved patient outcomes, but it comes at a cost. Cutting-edge treatments and diagnostic tools often have a hefty price tag, contributing significantly to the growing expenses in the healthcare sector. Additionally, the pharmaceutical industry, driven by research and development, is witnessing rising costs of drug production. As a result, India has recorded one of the highest medical inflation rates in Asia, reaching up to 14%.
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