Named First Health Benefit Administrator for PFRDA's NPS Swasthya Scheme
PFRDA launched NPS Swasthya, linking NPS retirement savings with health cover.
- Role
- First Health Benefit Administrator (HBA) for PFRDA's NPS Swasthya scheme
- Platform
- MAven app integrated with CRA API for viewing NPS and health benefits
- Withdrawal Limit
- Up to 25% of subscriber's own contributions for eligible outpatient and inpatient expenses
- Withdrawal Terms
- No cap on number of withdrawals and no minimum waiting period
- Payment Method
- Payments made directly to the healthcare provider
What was announced
The Union Secretary, Department of Financial Services, launched NPS Swasthya, a PFRDA initiative that brings retirement savings and health protection together under the National Pension System, on NPS Diwas. Medi Assist has become the first Health Benefit Administrator (HBA) for the initiative.
Medi Assist's role
- Provides the digital infrastructure for claims administration and service coordination.
- Enables a platform connecting subscribers, healthcare providers, CRAs and insurance companies.
- Subscribers use the MAven app, integrated with the CRA API, to view NPS and NPS Swasthya balances and account information alongside health benefits.
- Coordination with pension funds and insurance companies is managed by Medi Assist's platforms.
What subscribers get
- An NPS Swasthya investment account plus a separate, mandatory top-up health insurance policy.
- Up to 25% of the subscriber's own contributions can be withdrawn for eligible outpatient and inpatient expenses.
- No cap on the number of withdrawals and no minimum waiting period between them.
- Payments are made directly to the healthcare provider.
Safeguards
Data can be shared only where necessary, proportionate and tied to a specific purpose, and only with the subscriber's recorded consent or another lawful basis. Grievances are routed through a single point of contact on PFRDA's Pension Sahayak platform, covering Pension Funds, CRAs, HBA and insurers.
Management comment
CEO Satish Gidugu said retirement planning and healthcare needs are closely connected and the role is to make the subscriber experience simpler and support collaboration across the pension and healthcare ecosystem.
How investors may read it
Being the first HBA for a national pension-linked health scheme adds a new institutional channel alongside Medi Assist's existing TPA and benefits administration business. The update describes the launch and the company's role; it carries no financial terms, so the revenue impact cannot be sized from it.
More numbers
- Share of own contributions withdrawable for medical expenses25%
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