The whole idea of insurance is to pool the risks of a large number of people and share the financing of adverse events that strike at random, through prepayment of a contribution, so that no or limited payment is required when the need arises.
Asia has seen a sharp rise in out-of-pocket health costs and growing inequality in access to care. Although India has a wide network of public health facilities, only about 50 percent of Indians seek care when they are ill because of problems of accessibility and affordability. Essential drugs that are supposed to be provided free are often in short supply, forcing people to pay a hefty amount from their pockets.
A good approach to safeguard the people’s interest is a health insurance policy, where a certain amount is paid per month or year, in return, your health and medical expenditure is covered either totally or partially depending on your plan. This provides a sense of security and confidence and also secures your well-being at the time of need. Observing a paradigm shift in consumer attitude towards health, and catering to the need for personalized medicine, a wide spectrum of health insurance plans are now available in India.
Points to consider while choosing a health insurance provider:
- A well reputed insurance company which is transparent
- Customer centric and friendly
- Ensures security and peace of mind
- Discounts and deals
- International presence and security
Most health insurance plans are designed to cover accident care, cover critical illnesses, and secure general health. Japanese Universal Health Insurance System is an ideal example of insurance programme where the entire population is covered with financing from a combination of public, employer, and private sources. This has led to affordability and better health care with improved life survival in Japan.