Health Cover Can Relieve You From High Medical Expenditure

By SiliconIndia   |   Wednesday, September 25, 2013
29
Separator
41
Separator
52
Separator
11
Separator
Print Print Email Email
News Content Image

Bangalore: Along with the ever increasing cost of living, the cost of falling sick has also increased. The emergence of better equipped hospitals and advanced technology to provide highest standard of treatment have taken a toll on the expenditure of a person. However, the health insurance card holders can relax since recent study carried out by Times Of India shows that people who clear medical bills by cash pay almost 25 to 60 percent more than those who have cashless health insurance schemes, reports Pradeep Thakur of The Times of India.

The study was carried out in corporate hospitals like Fortis, Apollo Hospitals, Medanta and the likes. The medical situation in India seems to reflect the situation of the U.S. where the cost of treatment differs from insurance card holders to non-card holders. 

A campaign carried out by TOI in 2010 showed that most corporate hospitals are overcharging card holders. The outcome of the campaign was lowering of claim ratio of four PSU’s namely Oriental Insurance, National Insurance Company, United India Insurance Company and New India Assurance to almost 98 percent from 130 percent.

However, about 80-85 percent of Indians still pays their bills by cash and hence are victim to the rising hospital cost. "While the insurance business is only Rs.17,000 crore, the country's total health spend is Rs.4-5 lakh crore a year," said Pawan Bhalla, CEO of Raksha TPA.

Read More:

7 Ways To Save On Your Home Insurance Premium
Basic Things To Know Before Buying Travel Insurance


Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
SPOTLIGHT
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
Previous
Next