Medi Assist To Power PFRDA’s New NPS Swasthya Scheme As Health Benefits Administrator

On October 1, 2026, Medi Assist Healthcare Services Ltd announced it would administer the Pension Fund Regulatory and Development Authority’s (PFRDA) new National Pension System (NPS) Swasthya scheme. This marks Medi Assist’s first role as a Health Benefit Administrator (HBA) for the scheme. NPS Swasthya integrates retirement savings with health protection within the National Pension System.

Sanjay Lohia, Union Secretary of the Department of Financial Services, launched the scheme on NPS Diwas, a day dedicated to the National Pension System.

As HBA, Medi Assist will provide the digital infrastructure for claims administration and service coordination. Their MAven app, integrated with the Central Record Agency’s (CRA) API, will enable subscribers to view both their NPS and NPS Swasthya balances, along with health benefits. The scheme mandates a top-up health insurance policy, wherein subscribers can withdraw up to 25% of their contributions for eligible medical expenses, with no limit on withdrawals and no waiting period.

NPS Swasthya combines an investment account with mandatory health insurance. Subscribers can utilize up to 25% of their own contributions for eligible outpatient and inpatient expenses. Medi Assist’s CEO, Satish Gidugu, stated that retirement planning and healthcare needs are interconnected. He emphasized that the company’s role is to simplify the subscriber experience and foster collaboration across the pension and healthcare sectors.

Sumit Shukla, MD & CEO of Axis Pension Fund, highlighted that NPS Swasthya provides a dedicated corpus for medical needs within the NPS framework. This ensures that long-term retirement savings remain invested for their intended purpose. The story is based on company exchange filings and offers informational purposes only. Investors should conduct their own risk evaluations before making investment decisions.