Evolution of the Indian Health Insurance Sector: A review Bhatia Monica1,*, Mittal Sachin2, Bansal Alok3 1Research Scholar, Devi Ahilya Vishwavidyalaya, Indore, Madhya Pradesh 2Assistant Professor, Jaipuria Institute of Management, Indore, Madhya Pradesh 3Professor, Prestige Institute of Management and Research, Indore, Madhya Pradesh, India *Corresponding Author Email: bhatiam.017@gmail.com
Online published on 3 January, 2019. Abstract Health insurance is a mechanism that provides financial coverage for sickness or injury. Over the past few decades, India's achievement in terms of health improvement has been remarkable but health insurance industry is still way behind many other developing countries. This study examines the changes that have taken place in the Indian health insurance industry over a period of time and the issues and challenges the industry faces. The study utilized available data from more than 35 researches and relative studies conducted with respect to the health insurance sector. Not even a quarter of population in India is covered under any health insurance scheme. The penetration rate and expenditure on health insurance has been quite low. Penetration rate can be increased by means of micro-insurance, group insurance, government regulations over private sector and more schemes to reach out the rural masses with high competitive and service oriented delivery mechanism. However, the recent schemes and initiatives by government targeting the rural areas are becoming popular and may prove to be the appropriate way of supporting the society as a whole thereby saving it from the ruinous expenditure. Top Keywords Health insurance, Health care system, Penetration, Evolution of health insurance. Top |