Mumbai: Medi Assist Healthcare Services Ltd will act as the first Health Benefit Administrator (HBA) for the Pension Fund Regulatory and Development Authority's (PFRDA) new NPS Swasthya scheme, the company announced on October 1, 2026.
Scheme Launch
Sanjay Lohia, Union Secretary, Department of Financial Services, launched NPS Swasthya on NPS Diwas. The scheme integrates retirement savings and health protection under the National Pension System.
Medi Assist's Role
As HBA, Medi Assist will provide the digital infrastructure for claims administration and service coordination. The company's MAven app, integrated with the CRA API, will allow subscribers to view their NPS and NPS Swasthya balances alongside health benefits.
Subscriber Benefits
NPS Swasthya combines an investment account with a mandatory top-up health insurance policy. Subscribers can withdraw up to 25% of their own contributions for eligible outpatient and inpatient expenses, with no cap on withdrawals and no minimum waiting period.
Management Commentary
Satish Gidugu, CEO, Medi Assist Group, stated that retirement planning and healthcare needs are connected. He added that the company's role is to simplify the subscriber experience and support collaboration across the pension and healthcare ecosystem.
Axis Pension Fund's View
Sumit Shukla, MD & CEO, Axis Pension Fund, noted that NPS Swasthya provides subscribers with a dedicated corpus for medical needs within the NPS framework. He said this allows long-term retirement savings to remain invested for their intended purpose.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
