Health Insurance Awareness In India - Need of the Time

The population of India is roughly 1.39 billion. Given the large workforce, some claim that raising health insurance awareness is a simple effort. However, this is one of the main issues why the prevalence of health insurance is low in India. While purchasing a car insurance policy is mandatory, buying health insurance is not, even though it guarantees prompt medical attention. It appears that negligence towards such an important aspect of health care is what causes the high death rates and severe medical debt that the country is currently dealing with. In fact, one of the barriers to the penetration of the nation's healthcare sector industry is the lack of public awareness of health insurance. Even though the healthcare sector is one of the fastest-growing in the nation, health insurance advances slowly. Let's examine the problems with health insurance knowledge in India.

Insurers offer a range of health insurance solutions, such as:

• Individual health insurance plans
• Health insurance policies for senior citizens 
• Family floater health insurance plans for families
• Health insurance for women and newborns
• Critical illness insurance cover
• Specific health insurance for vector-borne diseases
• Disease-specific health insurance products.

The Significance of Health Insurance Awareness in India

People unaware of health insurance must cover the cost of medical care on their own. Although this seems to be a routine occurrence of illnesses, if the medical cost burns a hole in your wallet, it could become a significant problem. The rising cost of medical care is the biggest problem that comes along with this.

A simple medical procedure treated in a private hospital could cost thousands of rupees. This problem can be resolved by selecting the appropriate health insurance package. To receive comprehensive coverage at a reasonable cost, people can sign up for government health programs like Arogya Sanjeevani.

What are the Main Obstacles to Raising Awareness of Health Insurance?

The following are the main issues with health insurance knowledge in India, besides the vast population and lack of reach.

Illiteracy

The Ministry of Statistics and Programme Implementation says India's literacy rate was 77.7% in 2020–21. Indians have a sizable portion of the world's illiterate population. Creating awareness campaigns for those with inadequate education requires a greater commitment. In addition, they must be aware that health insurance can lessen the financial burdens associated with using medical services.

Long-Standing Misunderstandings Regarding Health Insurance

The idea that healthy people don't require health insurance is among the most widespread falsehoods regarding purchasing it. The significance only becomes apparent when a medical emergency arises. However, at this point the insurance plan's waiting period rule kicks in, fueling yet another significant myth about claim denial. People think that health insurance companies deny most claims. However, in practice, health insurance claims are only recognised if submitted following the policy's terms and conditions.

Poverty

As per a report by the United Nations, India is home to an estimated 364 million people who live in poverty. This amounts to over 28% of all Indians. In addition, this segment of society struggles with more urgent problems, including food insecurity and poor sanitation. Therefore, investing in health insurance is likely not a top priority for them.

Having affordable health insurance plans and good medical facilities will benefit. In addition, this will help raise awareness and enhance the nation's health insurance penetration rate.

Public Hospitals

The best place to raise awareness about health insurance is in public hospitals. Despite the greater prices, individuals are now more dependent on private hospitals due to the lack of essential facilities in public hospitals. Government funding is also necessary for the operation of public hospitals, but these resources are insufficient. In contrast, medical technology is evolving quickly but is constrained by high costs. As a result, many public hospitals are behind and cannot provide the most advanced medical care accessible in private hospitals.

Programs to raise awareness of health insurance among the general public may be helpful. In addition, public hospitals must collaborate locally with health insurance providers to guarantee broader reach in areas lacking medical services.

A Scarcity of Medical Experts

Health care professionals are crucial in raising knowledge of adequate medical care and perhaps the value of health insurance. In addition, patients can benefit from the education of these professionals if there are enough medical experts accessible to deliver medical services.

The Economic Survey 2019–20 says that India has a doctor-to-patient ratio of 1:1456. However, according to the WHO, a ratio of 1:000 is preferable. The COVID-19 pandemic showed the cascading effects of the understaffing of the medical field.

Free Protection Through Group Plans

Organisations that prioritise their employees' needs by providing free health insurance coverage do so to meet their financial and medical needs. However, countless people rely on this coverage and forgo purchasing a full policy that provides flexibility and personalised coverage. As a result, employees may become adamant about exclusively enrolling in such corporate plans and may ignore government health programmes. A business plan, however, does not provide lifetime validity. After employment ends, the coverage expires, leaving the former employee and their dependents vulnerable to medical obligations.

A Potential Remedy

Similar to participating in a relay race, raising awareness about health insurance is essential. Each team member is equally important in this situation. The government, medical experts, health insurance providers, and the general public can act as the foundation for bringing awareness to the nation's most remote regions.

Conclusion

Remember that a suitable health insurance policy is the best protection in a medical emergency. Health insurance now covers a wide range of treatments in addition to hospitalisation. Therefore, purchasing a policy from a reputable insurance provider with sufficient coverage and helpful services will help things go smoothly in a medical emergency.