The agreement was signed between ICICI Lombard Associate Vice President Pranab Sharma and Megha Health Insurance Scheme CEO M R Synrem here.
Christened as Megha Health Insurance Scheme, it would provide all households in the state with a financial cover of up to Rs 1.6 lakh per year to cover in patient services irrespective of all income groups, an official statement in this regard said.
Claiming that the health insurance scheme is among the first of its type across India, Synrem said it uses a common standard RSBY platform supported by the Ministry of Labour and Employment even as it expands the cover available under RSBY both in terms of universalising the scheme across the entire population.
According to the government statement, the scheme provides an enhance cover of up to Rs 1.6 lakh instead of Rs 0.3 lakh covered under the RSBY thereby providing cashless treatment of specified high cost and recurrent illnesses.
Meghalaya government stated that ICICI was selected as the insurer after rigorous and competitive bidding processes involving six other contenders and under careful advisory from the International Finance Corporation and the World Bank.