Learn About the Varied Health Insurance Policies in India
The Indian health insurance market is witnessing an upward trend currently. With increase in income and growing consciousness among people of the various classes, easy availability of health insurance has been realized. The new economic policy and the liberalization process undertaken by the Indian government have helped in the growth of some excellent health insurance providers. The rising costs in healthcare were the sole reason why such a step was taken, as large part of the population was unable to access healthcare services due to low income.
Now the rates of Indian health insurance companies have come down under the revised mediclaim policies implemented in 2007. There was revision of group health policies as well which led to increase in premiums. Health insurance sector is more complex because of the several factors involved and the impact it has on the life of an individual which affects the productivity of a nation. India currently has the following health insurance schemes: voluntary health insurance schemes, government run health schemes, community based health insurance and employer based schemes.
Under voluntary or private health schemes premiums are set at specific level after assessment of the health status of an individual. The General Insurance Corporation of India and its four subsidiary organizations offers voluntary schemes such as Mediclaim, a popular health policy. Known as the best health insurance India policy it returns all the expenses incurred for hospitalization and home treatment for injury, sickness. Government extracts the premiums from the taxes paid by individuals. But because of high premiums it is accessed only by the middle class and not under poverty line segment of people. Other voluntary health insurance schemes are Jan Arogya Policy, Jeevan Asha Plan II, Cancer Insurance Policy, Overseas Mediclaim policy and several others. The mandatory health insurance schemes include the employee state insurance scheme (ESIM), Central Government Health Insurance Scheme (CGHS) and Universal Health Insurance Scheme (UHIS). Community based health insurance schemes are usually offered by NCOs and charitable trusts. Here members pay a certain amount of money to cover for preventive care, ambulatory and inpatient care. These schemes are backed by patient collection, government donations and grants. The renowned health insurance schemes in India are Self-employed Women’s Association, Voluntary Health Services, Sewagram, Tribuvandas Foundation and several more. Employers both in the private and public sector offer health insurance policy to its employees in the fields such as Railways, Mining, Defense, and Plantation and Security forces. Health insurance coverage in this case is through lump sum payments, providing fixed medical allowance, group health insurance and outpatient care and hospitalization.
Choosing the best health insurance India is not easy and you need to choose wisely. So, before you take the final plunge study the various schemes and draw comparisons, decide your future needs, choose one that will be more economical and effective in future, choose a suitable amount for ‘sum insured’, learn the premium calculation process and make sure you study the final print brought to you before sign the dotted line.
Selecting a health insurance is a decision for life as financial commitments are involved. Therefore, do not take a step that you might regret later.
Author Bio: The author is the employee of a renowned health insurance company and a regular blogger for topics related to best medical insurance in India context.
Now the rates of Indian health insurance companies have come down under the revised mediclaim policies implemented in 2007. There was revision of group health policies as well which led to increase in premiums. Health insurance sector is more complex because of the several factors involved and the impact it has on the life of an individual which affects the productivity of a nation. India currently has the following health insurance schemes: voluntary health insurance schemes, government run health schemes, community based health insurance and employer based schemes.
Under voluntary or private health schemes premiums are set at specific level after assessment of the health status of an individual. The General Insurance Corporation of India and its four subsidiary organizations offers voluntary schemes such as Mediclaim, a popular health policy. Known as the best health insurance India policy it returns all the expenses incurred for hospitalization and home treatment for injury, sickness. Government extracts the premiums from the taxes paid by individuals. But because of high premiums it is accessed only by the middle class and not under poverty line segment of people. Other voluntary health insurance schemes are Jan Arogya Policy, Jeevan Asha Plan II, Cancer Insurance Policy, Overseas Mediclaim policy and several others. The mandatory health insurance schemes include the employee state insurance scheme (ESIM), Central Government Health Insurance Scheme (CGHS) and Universal Health Insurance Scheme (UHIS). Community based health insurance schemes are usually offered by NCOs and charitable trusts. Here members pay a certain amount of money to cover for preventive care, ambulatory and inpatient care. These schemes are backed by patient collection, government donations and grants. The renowned health insurance schemes in India are Self-employed Women’s Association, Voluntary Health Services, Sewagram, Tribuvandas Foundation and several more. Employers both in the private and public sector offer health insurance policy to its employees in the fields such as Railways, Mining, Defense, and Plantation and Security forces. Health insurance coverage in this case is through lump sum payments, providing fixed medical allowance, group health insurance and outpatient care and hospitalization.
Choosing the best health insurance India is not easy and you need to choose wisely. So, before you take the final plunge study the various schemes and draw comparisons, decide your future needs, choose one that will be more economical and effective in future, choose a suitable amount for ‘sum insured’, learn the premium calculation process and make sure you study the final print brought to you before sign the dotted line.
Selecting a health insurance is a decision for life as financial commitments are involved. Therefore, do not take a step that you might regret later.
Author Bio: The author is the employee of a renowned health insurance company and a regular blogger for topics related to best medical insurance in India context.
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