472 million Indians were estimated to be covered under various health insurance schemes in the country for the fiscal year 2019. Health insurance penetration stood at 35% for 2018. Out of the Rs 370 billion gross direct premium income of the health insurance industry, government health insurance schemes formed a major chunk at Rs 200 billion.
While all Indians are eligible for public funded health insurance which provides access to quality healthcare in several states, a vast majority of the population also purchase healthcare plans from private providers.
Take for instance, Bajaj Allianz Health Insurance available on Finserv MARKETS which offers comprehensive insurance plans for both individuals as well as families with a sum assured up to a maximum of Rs. 50 Lakhs. Policyholders can avail cashless facility at network hospitals pan India and also take advantage of the high claim settlement ratio to get their health insurance claims settled with ease.
However, alternatively, those looking for affordable health cover sponsored by the government can check out the government health insurance scheme operational in their respective state.
Different states in India as well as the central government offer budget-friendly government health insurance schemes on an annual basis. These are comparatively cheaper and also come with a sizable sum assured to provide financial assistance to your family during a medical emergency. Let us take a look at a few of them:
The National Health policy was geared towards the objective of Universal Health Coverage in India by integrating public health services into the welfare of the country and that is how Ayushman Bharat Yojna came into effect in 2018. This government health insurance aims to provide seamless healthcare to every Indian citizen through health and wellness centres (HWCs) and Pradhan Mantri Jan Arogya Yojana( PMJAY). Primary healthcare centres and sub centres have been modified into new health and wellness centres while PM JAY provides a yearly health cover of Rs. 5 Lakhs to every poor family at just Rs. 30.
Targeted at low-income families of India, Aam Aadmi Bima Yojana provides monetary support to people engaged in 48 vocations such as carpenters, fishermen, handloom weavers and others. To be eligible, a person should be either the head of the family or the earning member of a family which falls either below or around the poverty line. The scheme provides financial aid in the event of death due to natural causes, and accident as well as disability that is either partial or permanent. One needs to pay Rs. 200 per year for health coverage of Rs. 30,000 under this scheme.
This scheme was launched specifically to increase the coverage of an average Indian against accidental death or disability, against which only 20% were found to be insured in 2016. A person who is the citizen of India aged between 18 to 70 years with an account in a bank can avail this scheme. At an annual premium of merely Rs. 12, those insured are eligible to receive Rs. 1 Lakh for disability that is partial. A sum assured of Rs. 2 Lakhs is given in the event of death due to an accident or total disability for life. Premium deduction happens annually, directly through the linked bank account under the PMSBY scheme.
Also known as RSBY, this scheme came into effect in 2008 to provide access to better healthcare to unorganized sector workers who fall either below or slightly above the poverty line. Often, they are not able to save enough and are left deprived of money when diagnosed with a medical condition. A maximum cover of Rs. 30,000 is provided that covers all the members of a family including hospitalisation and pre-existing conditions. A one-time registration cost of Rs. 30 is charged. However, the premium costs are taken care of by the Central Government and respective state governments.
This is perhaps one of the oldest government health insurance schemes, running for the past 60 years. It caters to those employed by the central government including railway board members, judges of the Supreme Court, etc and covers their hospitalisation in case of a health problem. Homeopathic and allopathic treatments, along with supportive care for the elderly and others is also provided under the Central Government Health Scheme.
The Karnataka government provides farmers associated with cooperative societies to get enrolled in this scheme and get covered for close to 800 medical procedures in hospitals that are a part of the network.
Farmers in selected districts of Maharashtra who are either below the line of poverty or around it qualify for health insurance of Rs 1.5 Lakh. Diseases as specified in the scheme are covered from the first day itself, unless a waiting period applies.
This is the government health insurance scheme which covers chronic conditions such as cancer, heart problems and kidney diseases of the residents of Kerala. An individual needs to furnish his or her Aadhar card and an income certificate in order to enrol for this critical illness plan.
To conclude, government health insurance schemes allow basic health cover to the economically weaker sections of the society by protecting them against death, disability and common illnesses. However, rising medical expenses and healthcare inflation might trigger you to choose a higher sum assured.
With Bajaj Allianz Health Insurance available on Finserv MARKETS you can get covered upto Rs. 50 Lakhs, enjoy cashless hospitalisation across 6500 hospitals in India and get a customised insurance plan in tune with your health requirements. Not only this, Bajaj Allianz Health Insurance available on Finserv MARKETS also covers pre and post-hospitalisation, ambulance services and even provides free medical check-ups after claim-free years as specified in the policy. So, protect yourself and your family against unforeseen health expenses in the future by buying a health insurance plan from Bajaj Allianz on Finserv MARKETS without any delay.
Every plan has its own eligibility rules and other application criteria. Check the scheme details and apply accordingly.
Different government schemes offer different health covers. There is no standard sum insured. You will have to check the fine print of the policy applied for to know more details. Usually, sum insured by government schemes is on the lower side as opposed to private insurers.
Different schemes might require specific documents as a part of their application process.