Nearly 70 percent of all expenses made for medical treatment in India are out of pocket, meaning thereby that people pay mostly from their savings or take loans, for any unanticipated medical emergencies! This financial burden impacts people across categories, but has a significantly higher negative bearing on people in the lower income category. Millions are pushed to the brink of poverty and destitution just because of huge medical expenses. This isn’t a healthy situation. Therefore, it is imperative for people to understand that health insurance can be a life saver especially in the light of burgeoning medial cost and increased incidence of lifestyle diseases cutting across age, gender and even class. To make health insurance ubiquitous, there needs to be a concerted effort from all stakeholders -government, regulators, industry players and healthcare providers. The government and regulator have already taken a large number of measures to create a conducive environment for the growth and penetration of health insurance. However, some more steps in the right direction can lead to a more robust health insurance ecosystem which works not only as a life saver but also provides a financial protective umbrella around family and dependents.
