Health insurance companies in India have hardly been able to find unequivocal support among the masses, mostly due to lack of transparency. A recent survey seems to echo this perception, stating that more than 80 per cent of insured persons polled feel unsure about the efficacy of their health insurance cover due to rising hospitalisation and medical costs in India.
The survey, Health Unlimited, which was conducted by Future Generali India Insurance, found that when faced with a claim, two out of every three individuals feel insecure and inadequately covered as they encounter unexpected bills.
“Nine out of ten health insurance policyholders feel that recharge of sum insured is a key benefit,” the survey added.
This growing concern highlights the need for comprehensive healthcare solutions, Anup Rau, Managing Director and CEO, Future Generali India Insurance Company Ltd, said. “Rising cost of medical treatment is a cause of concern for a vast majority of people in India, despite having a health cover,” Rau said.
The survey was conducted among 800 insured individuals aged 25-plus. It claimed that India had one of the highest medical inflation rates among other Asian countries in 2021 – approximately 14 per cent higher than China, Indonesia and Vietnam.
It underscores the importance of greater government participation in creating health insurance policies that are transparent and cover larger number of ailmets of people of all age groups.
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