A paper by Randall P Ellis, M Alam and Indrani Gupta highlights the growing evidence that the level of health care spending in India – currently at over 6 per cent of its total GDP – is considerably higher than that in many other developing countries.
This evidence also suggests that more than three-quarters of this spending includes private ‘out-of-pocket expenses’. Despite such a high share of expenditure by individuals, the provision of health care, that is adequate in terms of quality and access, is becoming more and more problematic. Particularly, public delivery of health care is poor in quality, presumably for reasons of inadequate financing.
This highlights the need for alternative finances, including provision for medical insurance at a much wider level. The paper attempts to review a variety of health insurance systems in India (defined here as any mechanism which covers the risks of payment for health care at the time of its requirement), their limitations and the role of the General Insurance Corporation as an important insurer agency.
It also attempts to develop a prospectus of strategy for greater regulation and increased health insurance coverage by making suitable changes – particularly in claim settlements and the exclusion clause.
Also highlighted is the need for a competitive environment (which is at present completely missing), and an opening up of the insurance sector.
The entire report in PDF
Health & Wellness, Self Improvement, Self Development, Relationships, Mental Health, Wealth Management, Money Management
5 comments:
Yes i think everyone should have a health insurance which is really very important in todays life.
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Hi Ranjan, Thanks a lot for sharing the report on Healthcare trends in India. I think the insurance market in the country is going to explode and online tools like these will only help the cause more http://www.simpleinsurance.co.in/
Nice post about Health Insurance.It is a very common plan these days which covers your entire family under one premium payment giving coverage to the family members together. For more information about health insurance policy please click here Health Insurance
Do some calculation before doing any insurance plan; subtract your resources from the amount of capital needed to meet your family's total financial needs.
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Nice post Ranjan. I have one more thing to add. With the introduction of Health Insurance portability (HIP), (a) policyholders will have a certain set of flexibility to swap their insurance companies (somewhat alike Mobile Number portability) (b) insurers shall become more responsive towards policy servicing.
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