Rs18,000 Crore Required as Investment to Extend Health Insurance Coverage

The magnitude of disease to be covered and the amount of the population government can finance or subsidize would ultimately depend on the resources that can be allocated toward this. Contributing around Rs 18,000 crore or 0.2% of the GDP efficiently can aid India in extending basic health insurance coverage to almost 80% of the population, according to a CII healthcare subcommittee.

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
      Advantages of
      entering a valid number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium

      The CII study, which emphasizes that there must be a roadmap for Universal Health Coverage (UHC), assuming an average annual premium of Rs 900 per family, where it is supposed that each family has five members and administrative costs are excluded. The health ministry is currently seeking the opinion of stakeholders including states and development agencies on evolving the most suitable 'health assurance for all' plans for the nation.

      Post taking over last month as union health minister, Harsh Vardhan had promised health insurance for everyone. It has been estimated that at any given point of time, less than 5% of the population requires hospitalization. India can turn its large population base into an asset and utilize its demographic dividend to its advantage while rolling out UHC.

      The demographic dividend is defined as that period when the share of young and working people in a country's population exceed dependents substantially.

      The Centre currently runs several health insurance schemes such as Rashtriya Swasthya Bima Yojana (RSBY), Central Government Health Scheme (CGHS) and Employee State Insurance Scheme (ESIS), while states like Andhra Pradesh Tamil Nadu, Karnataka operate their own programmes, often replicating efforts at a time when resources are less.

      It is mandatory to bring all schemes under one umbrella for efficient pooling and management. The CII paper suggests that the premium per family for secondary and tertiary care shall be less than Rs 900 per family and proposes that health insurance be used to offer a secondary care package of Rs 60,000 topped by a tertiary care package of Rs 2 lakh.

      The magnitude of disease to be covered and the amount of the population government can finance or subsidize would ultimately depend on the resources that can be allocated toward this.

      Health insurance must be made mandatory and even though a free-for-all UHC is an ideal case, we believe this would procrastinate the process of universalism. Therefore, people above the poverty line, self-employed and employed in the formal sector should pay for secondary and tertiary level cover while government funds should be utilized to provide cover to the poor and vulnerable sections. Primary healthcare should be continued to be available free of cost.

      The study by the industry chamber tells that developing a self-paying segment can improve the accountability of delivery system; as such a customer is often more demanding than a beneficiary who receives free benefits.

      A suitable UHC plan for India has to be a proper mix of contributory and welfare system which emphasizes on expanding coverage to the under privileged rather than capping the affluent.

      India, with 21% of the global burden of disease but only 6% of hospital bed capacity, has been left behind Asian neighbors Thailand, Indonesia, China on UHC, Bali added, calling for a dramatic and innovative healthcare reform process in the country.

      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
      Should You Buy a Super Top-up Health Insurance Policy?

      18 Jan 2023

      India is abuzz with a variety of health insurance plans to cater
      Read more
      6 Reasons Why Your Cashless Health Claims Can Get Denied

      18 Jan 2023

      Cashless claims are one of the most lucrative benefits of buying a
      Read more
      Check Out the Mandatory KYC Documents for Health Insurance

      30 Dec 2022

      The Insurance Regulatory & Development Authority of India
      Read more
      What to Look for in a Health Insurance for Cancer Plan?

      20 Dec 2022

      Cancer is one of the biggest demons that the world faces today
      Read more
      What are the Factors Affecting Health Insurance Premium?

      20 Dec 2022

      Demand for insurance products in India, especially health
      Read more
      What are the Normal Thyroid Stimulating Hormone (TSH) Levels as Per Age?
      The thyroid gland is an important gland responsible to produce the right amount of hormones for normal body
      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
      Income Tax Slab for Women: Guide to Exemptions and Rebates
      In India, every person who earns beyond a certain limit is liable to pay income tax to the government. The tax
      Read more
      Best Health Insurance Plans for Senior Citizens in 2023
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance
      Read more
      How Senior Citizens can save Tax with Medical Bills u/s 80 D?
      Senior citizens can save on income tax by availing tax benefits on medical expenses under Section 80D of the Income
      Read more

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