Health insurance in India: Pathway to a Better Tomorrow

In India, the concept of healthcare means expenditure, fraudulent misconduct of hospitals and orthodox mindsets that prevent the social and physical well-being of our country as a whole.

Governmental subsidy measures are inadequate and privately funded organisations leach upon the vulnerabilities of our brethren among.

In times of bustling economic disparities and medical atrocities that we face, nothing but a health insurance policy becomes paramount. But how many of us are completely aware of these utilities? How many of us totally understand the benefits pertaining to it and the consequences of a badly handled health insurance policy? Well, the number is small and meagre to cope with the need.

Today, we would discuss about a health insurance policy and its importance for the people of India.

Defining Health Insurance in India:

We are a developing country, new concepts spawn and conclude every hour in this nation. But the bigger question is how to locate and nurture the opportunities which are beneficial to us? Well, this will take time and efforts from our end. For a widespread welfare of this country, we would need to take up this baton of better healthcare facilities ourselves. No-one else is coming tour rescue.

Subsequently, a healthcare policy can be highly useful in the process. For a small amount to paid on regular intervals, we can make certain that our health and financial capabilities never contradict or intersect at any point of time. The nature of these two aspects of lifestyle and the synchronization among them should be in perfect harmony, else the consequences can be disastrous.

Medical emergencies demand prompt care and urgent financial attention, and with a health insurance by your side, this becomes easier and convenient for you. A health insurance policy is nothing but the financial security you need in these situations. Against the nominal charges you pay for it, an insurer covers the risk of you falling sick and getting hospitalized in these situations. And it has become necessary in the stressed out lifestyle we follow these days.

Also, obtaining a health insurance has become more and more convenient than ever. As primitively, this was considered a matter of concern and needed careful discretion. The modes of availing insurances were limited and the ones providing it were not ethical enough to include our needs while summing up such things. But the scene has changed altogether, the technological revolution underway has played its role and with better communication modules and with more transparent ways of obtaining financial utilities, even insurances became easier and trustworthy along.

And health insurances were no exception to it. As nowadays, all that we need is a laptop or a smart phone with internet connectivity, and a health insurance can be obtained on the click.

Additionally, for the skeptical mindsets among, its comparison has become as easy as anything. With insurance comparisons platforms like, one can easily obtain various quotations from an array of insurance providers at once. Such a utility has proved its worth to the masses of India. On a click, you can obtain and compare a number of health insurance policies on a real-time basis. Right within the comfort of your home, on the go or wherever you feel the need.

Why is a health insurance important in India?

Health is a cardinal aspect of prosperity across the globe, we Indians are no-different. With efforts that amount to almost nothing from our government and healthcare authorities, a personal approach towards it has become mandatory for us.

The government of India spends just 1.2% of its GDP on making healthcare affordable, more than 80% of people who need medical attention bear the charges on their own and out of their pockets. 75% of our population is not covered under any medical insurance and due to which, a substantial number of them restrain from such things completely. Resulting in a higher mortality rate and a sky-rocketing number of people suffering and struggling to survive through the seasons of life. The under-privileged and the people below poverty line suffer the most. The middle class of India, which makes up the majority of our population, resort to self-medication and amateur medical professionals to save up on the cost. Which in cases, proves fatal and disastrous for the ones who suffer. Over 2 Crore households in India spend more than 20% of their income on healthcare, after obtaining these funds from unorganized loan sharks and against mighty high rate of interests.

So the need for health insurance has always been there, just that the ways to obtain it easily have surfaced recently.

Other Benefits:

A health insurance policy in India is beneficial in major vertices of healthcare, but there can be more to it as well.

Tax Benefits:

Under the article 80D of the income tax act, you are eligible for a tax rebate against your health insurance policy. Well, with some exclusions and amount capping in it. This rebate can only be attained when you buy this policy yourself and is not provided to you by your employer. A policy thus purchased would entail a tax reduction for you. The total amount than can be deducted is 25,000 for a person below 60 years of age and 30,000 for the senior citizens. Also, you can avail this benefit for insuring your family members, including your parents as well. This way the amount deductible can be clubbed and augmented to Rs 55,000, if your parents are above 60 years of age.

Keep your Savings Bucket Intact:

With a health insurance policy on your side, you eliminate the possibility of spending off of your savings bucket. It’s going to stay safe and sound in your bank. All such expenses would be covered by your insurer instead, and you would stay carefree and relaxed in order to provide finances for such things. A health insurance policy comes with cashless medication and all that you have to do is inform your policy provider when you get sick and your health insurance would kick in while the bills come up. They will be settled by the insurer directly and all you need to think about now is your health and your physical well-being.

Freebies on your way:

We often spend more and more money on health check-ups on a yearly basis. But with a health insurance, these expenses cease to exist. Some insurers provide free health check-ups, and which do not affect your premium amount as well. A win-win situation for you.

The Final Word:

Hence with a health insurance policy, your medical needs are sorted and catered by the insurer. Obtaining it responsibly and understanding the minute details of it is still on your head, but after this responsible conduct from your side, you can be certain of a healthy today and a prosperous tomorrow.