IRDAI Mediclaim policy a good move

The Uniform Mediclaim Policy proposed by IRDAI that offers basic cover and affordable price to all sections of people is a welcome measure which will benefit more number of people. This would give stiff competition to private insurers who prescribe lot of restrictions regarding settlement of claims, limited liability, coverage of only a few diseases etc. It will work as a good measure to reduce the medical expenditure of households who normally incur amount beyond their annual earnings leaving them in a debt trap.

The wide coverage of the policy like pre and post hospitalisation expenses, cost of medicines and operational charges etc. besides expenses incurred under Ayurveda, Unani, Siddha and Homeopathy would make think people to take it provided the premium offered is affordable. The amount of cover offered ranging from 50000 to 10 lakh also is useful for various income groups. The only thing the government must ensure is the rates of premium offered should not be increased year on year.

The government should bear the losses of insurance companies if the claims paid are more than the expected. It is good to observe that a now a days, people especially from the lower income groups also are aware of the health insurance policies and with this would revolutionise the health insurance market by increasing affordability to 20 to 25 per cent. The policy should cover almost all major hospitals in towns and cities.

TSN Rao, Bhimavaram