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The Prime Minister of India, has made some historic changes for the development of India. The rising need for social programs has paved the way for India’s largest health scheme. On September 25, 2018, the Government of India launched the Pradhan Mantri Jan Arogya Yojana (PMJAY) to manage the medical expenses of the poor families. Since it is the most ambitious plan of the Government, it needs a closer look at every aspect, including its promises and challenges. The prime objective of the PMJAY scheme is to cover the maximum number of poor households in India. Besides, the health benefits of enrolling for the PMJAY Scheme are huge. Hence, take a look at the significance of applying for the PMJAY Scheme:

1. Significance

  • The increasing life expectancy rate over 68.3 years has improved the quality of health care in India.
  • Health care is an essential factor, along with other variants like income, hygiene, and nutrition.
  • According to the World Health Organization, every country must invest at least 4% of the Gross Domestic Product (GDP) on their health.
  • The out-of-pocket expenditure on healthcare is 40% in India.
  • The Government Scheme not only covers for expensive treatments but also provides quality services to all the people eligible under the plan.

Before enrolling for this scheme, every individual must consider the major threats. Identifying the challenges of the PMJAY Scheme will prevent unnecessary repercussions in the future. Following are the challenges faced by the scheme:

2. Challenges

  • There is a slight possibility of inaccurate implementation and the right execution of the plan.
  • Since the scheme protects 40% of the poor, it fails to secure those individuals, who depend on the organized sector with no access to health insurance.
  • Under this scheme, there might be unpredictable financial costs.
  • There are chances that private hospitals might not push the higher expenses under the Statutory Health Insurance (SHI).

Here’s how the PMJAY Scheme has a better way forward irrespective of the challenges:

3. Way forward

  • This scheme is the first step towards creating a compulsory need for health insurance for the vulnerable Indian population.
  • It is also another way to regularize SHI in India.
  • Due to the worldwide acceptance of health insurance plans in India, the SHI coverage and the out-of-pocket expenditure is increasing to 18%.

To sum up, The PMJAY Scheme or Ayushman Bharat Jan Arogya Yojana is a quality health scheme for the betterment of the needy. Before enrolling for the plan, check your eligibility on the official government website You can head to the official PMJAY website to opt for Ayushman Bharat Yojana registration. “Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we works towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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