What are the reasons behind the rise in Health Insurance Cards in India?

The Indian Healthcare Industry: At A Glance(Download Health Card)

In a country that comes only second amongst the most populated nations in the world, India’s people numbered as many as its needs. Despite its massive population, the one promising detail is that India’s people are going to be the next generation leading the world tomorrow, for it has more young people demographically. This means that the prerogative of the country remains the people. (Download Health Card)

With that in mind, the baseline determinant of a healthy country is its healthy people. The need becomes paramount if looked at from a statistical point of view. Consider the fact that India’s GDP contribution to healthcare had ranked the lowest amongst the BRICS nations, with some states having even less than 40% health insurance coverage. The National Health Accounts (NHA) revealed that for an average Indian, out-of-pocket health expenses are at a record high at 61% of the total spending on health. This is an amount that they single-handedly bear themselves. Coupled with institutional literacy, the access to adequate health care in India had been quite a distant half a decade ago, until now. 

Recent Developments: What the Trend Shows(Download Health Card)

Today, the health insurance industry is not only seeing more growth but also the drive to make the service more sustainable across the backdrop of medical inflation. Apply For Health Card in India is now one of the most actively invested in and fast-growing spaces in the economy, and the urgency is only increasing. In 2018, the PM launched “Modicare” to cover 500 million of the poorest sections of the country, with plans to universalize social security in India.

Why the Healthcare Insurance Industry is Growing 

The trend has accelerated due to the post-pandemic conditions across the world that pressed on the urgency of health insurance. From a pre-Covid India with less than 40% coverage, the number shot up to 55%. The devastating effect of the twin Covid waves has drawn the realization that it is important to remain financially secure and stable in times of uncertain medical needs and health emergencies that can also tax one emotionally. 

Therefore With the increasing number of people covered under health insurance and policies. The trends are revealing certain initiatives by the government and private corporations to combat health crises in India. The rise in medical service investment is partly due to proactivity by the IRDAI to ensure. So, That policyholders get more comprehensive coverage, especially due to Covid-19. In March this year, India saw increasing public interest in the non-life health insurance sector too by 41%, which indicates. That Indians are getting more aware of cost-effective and alternative solutions for dealing with hospitalization, prescriptive, and general medical costs.

Health Insurance Cards: Moving Forward(Download Health Card)

Such is the case of health cards that are accessible and provide greater affordability. In late November last year, 126 million health e-cards were issued. To individuals under the Pradhan Mantri Jan Arogya Yojana (PM-JAY). Health cards not only enabled access to a large majority of Indians, but also offered comprehensive and affordable services. 

One of those premium services is offered by the Bajaj Finserv Health EMI Network Card. That is a one-stop solution for your healthcare needs. Like any other debit or credit card working with a swipe-through mechanism, the Bajaj Finserv. Health EMI Network Card helps you avail 800+ medical services ranging from hospitalization, diagnostic. And general healthcare across the country in over 1000 cities. With a hassle-free no documentation process, you can download health card. On the website and instantly activate it on the Bajaj Finserv Wallet app, requiring only a small one-time joining fee.

Covering a wide range of medical services from general surgery, oncology, cosmetics to maternity care, the Bajaj Finserv Health EMI Network Card offers a comprehensive solution. You can choose to pay your amount within a flexible tenor of 3-24 months. And even get a pre-approved loan of 4 lakhs INR. Four times the limit of your already existing EMI Network Card. With the Bajaj Finserv Health EMI Network Card. You can avail quality medical services not just for yourself. But your entire family too! 

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