Scope for Health Insurance companies in India

by

Aman Bhatia

Health Insurance is one of the sectors in India that are far behind the other sectors. It has lots of untapped potential, waiting to be explored. The reason is quite simple either people are not aware of health insurance benefits or they do not trust these health insurance companies. Whatever the cause may be, the need of n hour is to educate people about the same.

Statistics show that total medical care expenditure in India is about $40 billion and only $2 billion is financed by health insurance. The huge difference of $38 billion is of the pool of people who still pay for their medical expenditure from their pockets. This is one of the serious measures faced by the country. Government and Regulators should collectively think on the grounds of improvement.

On the other hand, medical costs are expected to go too high, which means that people in India would not be able to access quality healthcare, if the same conditions prevail. Medical science is making sufficient progress in finding cure for all health ailments. The use of advanced technologies has made medical treatment highly expensive. In such a scenario, how will people avail medical cure for their health issues?

The only solution lies with health insurance companies. The above statistics show the enormous scope for them in the country. There is a need of right health insurance companies to enter the market and offer health coverage to the people so that medical treatment can be made affordable and accessible. It is only then that the condition of health insurance in India can be improved.

Apollo Munich has entered into health insurance sector as a pure insurance and is working to make medical cure easy for the Indian citizens. It is looking forward to offer health cover to more than 500 million people in India.

I am an author who likes writing on insurance, particularly health insurance. My aim is to spread health insurance awareness by writing about the same.

Health Insurance Companies

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Health Insurance Service India

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