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Need for Medical Insurance. Types of Health Insurance in India.BY: Guest | Category: Health and Fitness | Post Date: 2009-09-17
Medical insurance is a monetary shield. It is very well-versed and refers to a contract between insurance company and policy holders. WRITTEN BY BY: Vidya Sankanna. The assessment for the need for medical insurance has to be derived through holistic approach implicit of economical strategies & epidemiological studies. Economical Strategies The Indian economy reported increase in GDP by 7% to 7.5% estimated from the last three years (2005-08) and the percentage share of service has risen in comparison to agriculture sector. The health care market has accounted at US $35 billion is expected to reach over US $75 billion by 2012, this signifies the demand for healthcare. The capitalist intervention has assured quality healthcare with high technology and newer medical protocols; probably increasing the healthcare cost. The numbers of insurer in India are less as compared to other countries. About 75% of expenditure on healthcare are met by "Out of pocket" consumers. To encourage medical insurance, the Government of India has recently proposed and risen the foreign direct investment limit in insurance from 26% to 49%. Epidemiological Studies: The need for health services is determined by the prevalence & incidence of diseases within the population. Demographical variation and genetic inheritance forms the substantial proposition to the study of epidemiology. The epidemiology can be studied under different categories, such as: 1. Infectious disease: Environmental conditions accelerate in the occurance & spread of infection, for e.g contaminated food , malaria, typhoid and typhus. 2. Occupational group: Some people are exposed to special risks in the coarse of occupation. These include exposure to dust ( coal dust, silica, asbestos ), toxic gases in industrial process, and the risks of accidents. 3. Socioeconomic group: High life-style provoke indulgence in tobacco smoking, alcohol intake ,irregularities of meals, long working hours, which forms the etiological factors of diseases such as obesity, migraine, hypertension, acid peptic diseases. 4. Constitutional diseases: These are the inheritance from family members with particular genetic predisposition toward certain diseases like, diabetes mellitus and cancer. 5. Mental health: Lethal reports attributed to mental illness are principally due to dementia and suicide. 6. Accidents: The patterns of accidents varies enormously with environmental conditions & personal factors, for e.g- road accidents mostly occur in hours of darkness & in winter months , also alcohol forms significant factor. Home accidents are due to unsafe behaviour . Therefore, drunkeness ,drug abuse & domestic violence all lead to injury and death. Types of Medical Insurance Companies; Government Companies: The Government of India had started the first health insurance company, under the name MEDICLAIM. It has also started schemes such as, Central Government Health Scheme (CGHS) & Employees State Insurance Scheme (ESIS). Under section 80D ,the income tax benefits on insurance premium upto Rs.15000 /- for senior citizen. Companies - United India Insurance, Oriental Insurance, New India Assurance and National Health Insurance. Private Companies The Government of India came with new economic policy & liberalisation process in 1991 ,& gave opportunity for private stake holders in healthcare industry. Private Companies-Bajaj Alliance, Reliance, Tata AIG, Royal Sundaram. Kotak Mahindra, & many more. Legal Aspects: The contract of medical insurance policy is agreed under certain terms & conditions ,as per mentioned, however, in case of contravene services legitimate actions would be taken. The issues will be dealt with by going through subjective processual grievances & redress following consumer protection act 1986. Article Source: http://www.saching.com About Author / Additional Info: Additional Articles: * Indian stock market report - How to invest in stocks. * How to produce and market handlooms silk cloth and sarees * Good education - The duties of parents and teachers towards a child * Simple businesses to start with minimal investment * Things to know about Tippmann Paintball Guns Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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