Health insurance is a wise investment, considering the extensive medical and hospital cover that it provides. Whether health insurance should be made mandatory in India is a debatable question. However, these schemes are no-doubt beneficial and no debate exists regarding the importance of medical insurance schemes. The amount of coverage needed depends on the affordability of each scheme, the budget of the insurance holder, disorders that one wants to get coverage against and other aspects. A number of health insurance companies offer top-up insurance, and you can go through the popular plans in the online sites.
It must be remembered, that the cost of healthcare is on the rise. In many parts of the world, services related to healthcare are considered to be a non-negotiable requirement. In India, the people with a higher income can get good treatment in the expensive hospitals. However, the middle and lower-class people experience a lot of trouble, standing in long queues in public hospitals.
The following factors need to be considered while deciding whether medical insurance should be made compulsory in India.
Rising health care expenses
The cost of healthcare is continuously rising, and it is becoming increasingly difficult for the middle and lower income groups to seek quality treatment at the top hospitals. Besides, the BPL population is still unable to meet the basic healthcare costs. In certain situations, people are left with no other option than spending their life’s savings on treatment. Considering this situation, it is necessary for each family to get comprehensive health insurance coverage. This is possible only if the health insurance packages are priced in a way, so as to meet the affordability of these sections of the population. This is likely to be a cheaper option for treatment. The reputed health insurance companies offer super top-up health insurance, which enables the policy holders to enjoy a number of benefits at a low premium.
The quality-cost gap
In India, several health insurance companies offer affordable packages to the other countries. However, the problem lies with poverty, which makes it impossible for a large part of its own population to buy these packages. However, the patients can seek treatment at the government hospitals that are lower than that in private hospitals. The quality of treatment in these institutions remains under the scanner. With the number of these hospitals restricted to a few and the population with low income being large, it becomes difficult for the patients to get themselves treated in these hospitals. As a result, good-quality treatment comes only at the expense of a large amount of money at the polished private hospitals.
Considering the financial condition of the lower and middle-income groups, it is necessary for every family to get a health insurance coverage. However, it is not possible for all the people to buy these policies. Therefore, even if health insurance is made mandatory in India, a large segment of the population will not be able to buy these policies. The best way to deal with the problem is to go for an affordable hospital cover, offered by the reputed insurance companies. This will enable the masses to minimize medical expenses.