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Wednesday, May 23, 2012
health insurance plans
The current condition of health insurance of India is not good enough. People are still deprived of quality medical treatment because of financial factors. Thus, there is a need to start drives to encourage people to buy health insurance to financial their medical expenses. Medical insurance companies needs to work in this arena and contribute a lot so that people can find these products to be useful.
There are many nations in this world where health insurance is mandatory. It is must for people of these nations to buy medical insurance so that they can seek quality healthcare, when required. However there are many nations, where these products are not mandatory and people here still find it difficult to pay for quality medical treatment.
Health insurance is a necessary, especially when the number of diseases are augmenting and making it tricky for the uninsured individuals to afford medical treatment.
Under such circumstances, there is a need to drive people to purchase health insurance to make their life trouble-free and unproblematic. It is only this means that can be used to pay for increasing medical treatment expenses. It facilitates in maintaining balance between the medical care expenditure and the wallet, thus giving assistance to the common man, who or else has to go through a series of fiscal problems in order to pay long hospitalization bills; especially in case of a major accident or serious critical illness.
It is beyond doubt that the penetration rate in medical insurance arena is improving at good pace, but still there are large numbers of people who belong to the pool of uninsured individuals. The privatization of health insurance in India has made the condition a bit better, but if a light is thrown on current healthcare statistics, one can easily conclude that there is a need of tremendous improvements to be made in this field.
The medical care expenditure is expected to increase steeply in coming few years, which would make it a problem for the people without health cover to go for quality health treatment. It would worsen the healthcare condition in India, if the required measures are not taken at the earliest. Many Indian families are already suffering because of these unavoidable circumstances of life and are facing financial crunch. Thus, there is a need to encourage them and show them the direction of health insurance that could be a lot helpful.
The point to be pondered over is that there is significant difference between the healthcare expenditure of India and the amount paid by health insurer. It constitutes to about $57 billion, which is not a figure to be ignored or taken for granted. There is much scope in this field that need to be exploited and put to use for the betterment of the Indian masses.
The contract of portability allows policy holders to switch from their initial provider to a new provider along with the accrued benefits. This facet has brought improvement in the level of services offered by medical insurance companies. People use this facility to change their provider and can seek services with quality standards. It led to cooperation in information sharing between insurers. It was one of the steps taken by IRDA to recover healthcare condition in India.
In addition to it, the other initiatives, like the government's plan to upsurge health allocation by 20 per cent, enlarge the scope of the Rashtriya Swasthya Bima Yojana (RSBY), are believed to help a bit. These efforts bring in more prospects for insurance penetration.
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