Health insurance has been a neglected sector in India. Though it was introduced in the 80s, it does not flourish completely till data. Reasons are definitely there that deter people from purchasing a health insurance. Both structural and organizational issues come to halt the growth of the health insurance policies.
The data brings out a clear statistics citing that Indians are paying less attention to the health insurance and are keen to pay expensive medical bills leading to a financial crisis. Even initiatives taken by government fail to bring people under a protection – a health insurance plan.
The percentage of people protected under the health insurance policy is an alarming one. Around 2% of the Indian population covers under individual policies, 3% under corporate policies and 20% under government schemes. The reasons for such poor score must be identified and solved as early as possible.
Health insurance field, nowadays, has been seen as one of the significant sectors that grow rapidly across the world. The programs and planning should be designed to bring more and more people under health insurance policies. The survey has revealed the percentage is even lower in the poor and middle-class families. Less than 1% of this stratum has a health insurance policy.
The problems should be strictly figured out to solve the present situation. The data are needed to point out where faults have been repeated for decades. Other than the logistical distribution, some issues related to organizational problem should be taken into consideration. Among them, restrictions and less than enough protections play a big role to keep health insurance policy as a neglected area. In short, insurance companies fail to provide the adequate supports to people in need. This is the main reason why people prefer more medical expenses over having a health insurance plan.
Effective steps should be taken to erase the problem gradually. The first thing that can change the present scenario is choosing the new methods over the traditional ones. The use of big data updates the age-old rules. The same thing can be applicable to the health sector also. Companies must tie up with different health organizations and hospitals widely to collect medical records. This record serves the main purpose as they can offer a clear vision about the present medical conditions. Companies can use them to introduce different short-term and long-term plans that meet the requirement.
Insurance companies must focus on the structural change of the plans that let them reach a great coverage than the previous one. The big data helps in finding out the morbidity pattern as demographical information like age, gender and city.
Finally, companies should promote healthy living through different plans that benefit the end user in the form of reward points and discounts on the premium. It is a great step and started being adopted by the companies across the world. India is running far behind the expected mark of health insurance coverage. A proper data adoption can bring the country out of this problem.