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India provides safety net for elderly, hospital care to poor
Monday, 14 July 2003, 19:30 IST
NEW DELHI: Indian Prime Minister Atal Bihari Vajpayee Monday kept his government's promise of putting more money in the pocket of the elderly and providing better healthcare for the poor.
This is being made possible through an assured return pension scheme called Varistha Pension Bima Yojna for people above 55 years and hospital care to the less advantaged citizens for a small premium.
The Universal Health Insurance Scheme is expected to benefit millions of workers in the unorganised sector and people in rural areas.
Finance Minister Jaswant Singh, in his budget speech on February 28, had announced the schemes to provide "relief to the senior citizens and to ensure easy access to good health services to the large majority of our less advantaged citizens."
Both the schemes were rolled out Monday simultaneously in New Delhi, Bangalore, Gandhinagar, Hyderabad, Mumbai and Patna.
Under the Varistha Pension Bima Yojna, citizens over 55 years can make a lump sum payment of a minimum 
33,335 or a maximum 277,490 to get assured returns of nine percent, far above what is offered by any savings scheme of banks.
The first such pension-for-life scheme will provide assured monthly returns of a minimum 250 to a maximum 2,000. On demise of the insurer, the lump sum payment will be returned to the nominee.
The government will help the state-owned Life Insurance Corporation (LIC) meet the commitment between the actual yield earned on the funds invested under the scheme, in view of the prevailing low interest rates, and the assured returns of nine percent.
In the case of the health scheme, also the first such government effort on a nationwide scale, for payment of just one rupee a day an individual will be assured of hospital care.
"The community based scheme to offer health protection and easy access to good health services to the less privileged, will provide an individual access to the medical facilities for rupee one per day. In the case of a family of five members the premium charged will be 1.50 per day and rupees two for a family of seven members," the finance ministry said.
The scheme will provide for reimbursement of medical expenses up to 30,000 towards hospitalisation, a cover for death due to accident up to 25,000 and compensation due to loss of earning at the rate of 50 per day up to a maximum of 15 days.
For 25 percent of Indians living below the poverty line, the government will contribute 100 per year towards their annual premium.
The policy is meant for groups consisting of a minimum of 100 families.
"The scheme will be on the lines of Mediclaim policy, operated currently by the state-owned non-life insurance companies."
Hospitals run by NGOs/state governments/trust hospitals/selective private hospitals with fixed schedule of charges will be enlisted for providing benefits.
"Pre and post hospitalisation care as well as domiciliary hospitalisation which mean medication for a period exceeding three days when the insured was being treated at home, shall be excluded from the scope of the policy," a finance ministry statement explained.
Source: IANS
33,335 or a maximum 277,490 to get assured returns of nine percent, far above what is offered by any savings scheme of banks.
The first such pension-for-life scheme will provide assured monthly returns of a minimum 250 to a maximum 2,000. On demise of the insurer, the lump sum payment will be returned to the nominee.
The government will help the state-owned Life Insurance Corporation (LIC) meet the commitment between the actual yield earned on the funds invested under the scheme, in view of the prevailing low interest rates, and the assured returns of nine percent.
In the case of the health scheme, also the first such government effort on a nationwide scale, for payment of just one rupee a day an individual will be assured of hospital care.
"The community based scheme to offer health protection and easy access to good health services to the less privileged, will provide an individual access to the medical facilities for rupee one per day. In the case of a family of five members the premium charged will be 1.50 per day and rupees two for a family of seven members," the finance ministry said.
The scheme will provide for reimbursement of medical expenses up to 30,000 towards hospitalisation, a cover for death due to accident up to 25,000 and compensation due to loss of earning at the rate of 50 per day up to a maximum of 15 days.
For 25 percent of Indians living below the poverty line, the government will contribute 100 per year towards their annual premium.
The policy is meant for groups consisting of a minimum of 100 families.
"The scheme will be on the lines of Mediclaim policy, operated currently by the state-owned non-life insurance companies."
Hospitals run by NGOs/state governments/trust hospitals/selective private hospitals with fixed schedule of charges will be enlisted for providing benefits.
"Pre and post hospitalisation care as well as domiciliary hospitalisation which mean medication for a period exceeding three days when the insured was being treated at home, shall be excluded from the scope of the policy," a finance ministry statement explained.
Source: IANS