Med cover inadequate and not affordable
The article discusses the inadequacy and unaffordability of standard hospitalization insurance in India, particularly for the middle class, citing rising healthcare costs and policy limitations like sub-limits. It explores individual strategies for managing healthcare expenses, such as opting for higher sum insured, buying top-up plans, or self-insuring, emphasizing the critical need for long-term financial planning for health across different age groups.
The article discusses the inadequacy and unaffordability of standard hospitalization insurance in India, particularly for the middle class, citing rising healthcare costs and policy limitations like sub-limits. It explores individual strategies for managing healthcare expenses, such as opting for higher sum insured, buying top-up plans, or self-insuring, emphasizing the critical need for long-term financial planning for health across different age groups.
Exam linkage
GS Paper 2: Social Justice (Health, Welfare Schemes); GS Paper 3: Indian Economy (Financial Markets, Social Sector initiatives).