Health Insurance Sector India

Health insurance in india is a growing segment of india s economy.

Health insurance sector india. Such policies are usually offered on an annual basis. 5 the market share of psu insurers in health insurance decreased from 64 in 2006 07 to 57 in 2008 09. However the health insurance industry has made such treatments accessible to everyone.

In 2018 one hundred million indian households do not benefit from health coverage. Health insurance in india which covered around 11 of the population by august 2005 is provided through voluntary 2 and mandatory 9 health insurance schemes. A committee headed by the former reserve bank of india governor rn malhotra offered recommendations to regulate the insurance sector in india.

Nearly 1 3 billion potential beneficiaries. A huge portion of india population today relies on health insurance to access healthcare. Today various health insurance schemes are available in the market and providing benefits from an individual to an entire family.

The health insurance sector was opened to private and foreign participation. The industry is growing at a tremendous pace owing to its strengthening coverage services and increasing expenditure by public as well as private players. The health insurance industry is one of the fastest growing segments among other non life insurance segments.

In 2011 3 9 of india s gross domestic product was spent in the health. The indian health system is one of the largest in the world with the number of people it concerns. And this has led to.

Both the life insurance and the non life insurance is governed by the irdai insurance regulatory and development authority of india. Healthcare industry in india comprises of hospitals medical devices clinical trials outsourcing telemedicine medical tourism health insurance and medical equipment. In 2003 the government of india also launched universal health insurance for the unreached below poverty.