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Medi Assist Named First Administrator For NPS Swasthya Scheme
NPS Swasthya is a new program that connects retirement savings with health protection.
It works within the National Pension System.
People have an investment account and a required top-up health insurance policy.
They can use up to 25% of their own contributions for eligible medical expenses.
They can make withdrawals without a limit on the number of times or a minimum waiting period.
Payments for eligible expenses go directly to healthcare providers.
Medi Assist will help run the digital services and coordinate claims.
Subscribers can use the MAven app to see their retirement and health information.
PFRDA also provides a single grievance contact through the Pension Sahayak platform.
PFRDA has moved NPS Swasthya from proof of concept to an operational framework under the National Pension System.
Medi Assist Healthcare Services Ltd was appointed the scheme’s first Health Benefit Administrator.
The scheme combines an NPS Swasthya 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 healthcare expenses, without a withdrawal cap or minimum waiting period.
Medi Assist’s MAven app will connect subscribers with account information, health benefits, claims administration and related services.
- Who
- The Pension Fund Regulatory and Development Authority appointed Medi Assist Healthcare Services Ltd as the first Health Benefit Administrator, with Sanjay Lohia launching the initiative.
- What
- NPS Swasthya has moved into an operational framework combining an investment account with a mandatory top-up health insurance policy.
- Where
- The announcement was made in Mumbai, while the initiative was formally highlighted on NPS Diwas.
- When
- The operational guidelines were issued on September 18, 2026, and the initiative was formally highlighted on October 1, 2026, on NPS Diwas.
- Why
- The scheme is intended to provide a dedicated medical corpus while allowing long-term retirement savings to remain invested for retirement.
Key facts
- Administrator
- Medi Assist Healthcare Services Ltd is NPS Swasthya’s first Health Benefit Administrator.
- Regulator
- The Pension Fund Regulatory and Development Authority oversees the framework.
- Withdrawal limit
- Subscribers can withdraw up to 25% of their own contributions for eligible healthcare expenses.
- Healthcare coverage
- Eligible expenses include outpatient and inpatient healthcare costs.
- Withdrawal conditions
- There is no cap on the number of withdrawals and no minimum waiting period between withdrawals.
- Digital platform
- Medi Assist’s MAven app is integrated with the Central Recordkeeping Agency API.
- Grievances
- Pension Sahayak provides a single contact point for issues involving pension funds, Central Recordkeeping Agencies, the administrator and insurers.
Sources
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