Why Health Insurance is not picking up in India?
84% healthcare expenses are out of pocket in India
Answer:
Monopoly of insurance in india is with the Governments LIC(life insurance corporation of India) till 2002, now the scenario is changing , Private players are allowed to do bussiness now its picking up slowly .
The trend set by advisors of LIC is a begging type , people really are not aware till now the seriousness,
The hosital and health expenses in india are really cheap, the By- pass surgery is done here for less than 2500$ the costliest operation or treatment comes under 3000 $ . Govt is taken care of the health sector really well .
They're probably doing a lot better than we are, and their healthcare prices are probably competitve and reasonable. Health insurance inflates prices to a ridiculous extreme!
I say it's probably better for the US to offer govt catastrophic healthcare insurance, and then have market-driven preventative healthcare that's reasonable and affordable, so we can pay for it ourselves. When there's competition, prices go down. And we wouldn't be coerced into selecting doctors we don't even want to go to. And we could also take care of our own alternative treatments without someone saying no.
Two basic reasons :
1. insurance in most parts of the world is sold not bought. In India this is more so because of the lack of education and general fatalistic approach of most Indians - whatever has to happen will happen, God will take care.
2. The rates charged r not high enough. Most cos make losses on health policies.
More urgent to do
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