HEALTH INSURANCE IN INDIA A CLOSER VIEW ECONOMICS ESSAY PART 1

2000 WORDS

In this assignment the author will critically analyse the health inequalities that are evident for people with a diagnosis of a severe mental illness. He will particularly focus on the inequalities that exist in relation to the prevalence, identification and management of the physical health aspects for this set of complex conditions.

Health insurance plays a vital role in reducing huge expenditures people incur in circumstances of uncertain medical situations. With increasing medical costs, recessions, new diseases spreading all over, possession of health insurance policy makes it easy to fight these difficult times. At the same time in today’s world with so much inflation purchasing power of people has reduced significantly. With all this, health problems can lead to heavy indebtedness. Even with such out of pocket expenses Indian population is still reluctant to buy or invest in insurance policies.

Health Insurance Industry has experienced vital changes since inception in terms of premium structures, high claim ratios, reluctance to buy health insurance which has given private companies a platform to develop in the Indian market.

In this research we will try to determine the past and future of the health insurance industry in India, the growth of the industry and companies, benefits and importance of health insurance, scope and innovative trends, challenges and cultural problems like marketing problems and competition faced by health insurance companies and also why people of rural areas along with educated people are reluctant to buy insurance.

1.2 Health Insurance in India: A Closer View

Decades ago when Insurance was not recognised around the world, it was first introduced by the British in India and thereafter over the past 5