Government To Launch A New Health Insurance Scheme For All

The government is considering the launch of a new health insurance scheme for masses, as mentioned by a government official spokesperson, also adding that the Department of Financial Services has already held discussions with insurance companies for the launch of such a product.

Read More

Policybazaar exclusive benefits
  • 30 minutes claim support*
  • 50,000 claims approved in last 15 months*
  • Schedule home visit with our advisors
  • Get a plan based on your medical needs

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Back
All health plans cover Covid-19 treatment
  • 1
  • 2
  • 3
  • 4

Who would you like to insure?

  • Previous step
    Continue
    By clicking on “CONTINUE”, you agree to our Privacy Policy and Terms of use
    Previous step
    Continue

      Popular Cities

      Previous step
      Continue
      Previous step
      Continue

      Do you have an existing illness or medical history?

      This helps us find plans that cover your condition and avoid claim rejection

      Get updates on WhatsApp

      What is your existing illness?

      Select all that apply

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step

      The health insurance scheme will be available to all families not exceeding five members, including families headed by senior citizens in the country wherein the entire family will be covered under a single sum insured.

      While the name of the scheme is not decided yet, it is proposed to be a cashless scheme with premiums as low as Rs. 1000 for a family of five (without a senior citizen) for a cover of Rs 50,000. For Rs. 1 lakh cover, a family with one or more senior citizens would have to pay Rs 2,400 as premium, while for a family without senior citizens it would be available for Rs 1,600.

      This proposal that has been sent to insurance companies and it will not offer any subsidy to the policyholders. Furthermore, this scheme would have a waiting period of two years for pre-existing conditions.

      Four state-owned insurers like New India Assurance, National Insurance Company, United India Insurance, and Oriental Insurance and private players like Bajaj Allianz, ICICI Lombard, HDFC Ergo, and Iffco-Tokio Marine are in talks with the government to finalize the fine print of the scheme, the draft paper says.

      “Health insurance coverage in India is expected to cross 630 million people or 50 percent of the population by 2015,” as stated in the recent World Bank report. According to the data from the General Insurance Council, from April to July this year, health insurers noticed the highest growth of 42.1 percent with premiums of Rs. 1066.69 as compared to last year.

      Insurance company executives said that this new insurance plan will be much cheaper for policyholders, and will serve those who do not have any form of health insurance or have a small cover from their company. “Since the cover protects the entire family, there is no need to buy any separate policy,” the chief executive officer of general insurance company added.

      However, there are a few concerns that have been raised about the distribution of the product. How a scheme with such low premiums can process policy sales and claim payments. Moreover, even banks have not been made a part of the process unlike the other government schemes under Pradhan Mantri Jan Suraksha scheme where insurers follow the mandate to tie-up with banks.

      Source: This news was published on August 22, 2015 in business-standard.com under the title: “Coming soon, health insurance scheme for all”

      Search
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

      Health insurance articles

      Recent Articles
      Popular Articles
      Monkeypox: Dos and Don’ts of the Disease That You Should Know

      15 Sep 2022

      Monkeypox has slowly and steadily spread to more than 85 countries...
      Read more
      Why is It Important to Disclose Pre-existing Diseases to Your Insurer?

      06 Sep 2022

      As we grow old, the chances of developing a disease or a medical...
      Read more
      Benefits of Multi-Year Health Insurance Plans

      25 Aug 2022

      Ever since COVID-19 entered our lives, health insurance has come...
      Read more
      Does Health Insurance Cover Monkeypox?

      25 Jul 2022

      Monkeypox is the latest disease to make its way to India while we...
      Read more
      List of Diseases Covered by Bajaj Allianz Health Insurance Plans

      05 Jul 2022

      Barely any person has remained unaffected due to rising health...
      Read more
      PMJAY Scheme: Ayushman Bharat Yojana Eligibility & Registration Online
      Prime Minister Shri Narendra Modi announced the launch of (PMJAY) Ayushman Bharat Yojana in his Independence...
      Read more
      Best Health Insurance Plans in India 2022
      Finding the best health insurance plan from so many different health insurance companies can get confusing for many...
      Read more
      How to Apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)?
      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal...
      Read more
      Best Maternity Insurance Plans
      Maternity insurance offers comprehensive coverage for medical expenses incurred during pregnancy, including the cost...
      Read more
      Best Health Insurance Plans for Senior Citizens in 2022
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance...
      Read more

      top
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL