Insurance-India's Health Insurance Lacks Data For Assessing The Exact Health Risks

Dr Kishore Kumar, Founder Chairman and Neonatologist, Cloudnine Group of Hospitals opines on the importance of health insurance and the benefits to the people who have themselves covered with proper knowledge of the scheme

Healthcare in India is one such sector which is undergoing enormous transition. There is an increased income and health consciousness among the majority of the classes, price liberalisation and the introduction of private healthcare financing that is driving the change. Despite this, most Indians don’t have health insurance because many are eternal optimists – always think that the worst doesn’t happen to them and God will protect them. While cutting-edge technology has brought tremendous improvements there is a lot of buzz now for inclusion of new set of treatments such as fertility under the purview of medical insurance covers. Currently, both private and public health insurers do not include fertility procedures and treatments under their cover plans. But is that all? In my view, the condition of health insurance is pitiful as many parts of the population does not use health insurance to finance their medical expenditure.

Over the years the insurance industry in India has grown along with the country’s economy with several insurance companies in the country are expanding their operations, across both the public and private sector and offering more specialised covers to patients but it is sad to note that India still needs to take examples from the western world where insurance is ‘made compulsory’ in many aspects - for example: in Australia - you cannot buy a house without house building insurance whereas in India - majority of houses don't have insurance. Similarly health insurance is compulsory in Australia for people earning more than $100,000 per annum though the Government provides healthcare free for all, this way to reduce the load on the government hospitals. In India currently, while health insurance is taken by people who are employed or employee provided insurance and it is still in infancy and not more than 15 per cent people have insurance.