A Quick Look at Some Government Health Insurance Schemes

In the Union Budget announced in 2018, the Finance Minister Mr Arun Jaitley announced what is probably the Central government’s most ambitious programmes, Ayushman Bharat, aimed at providing universal healthcare to all Indians, especially the underprivileged.

This scheme aims to cover more than 10 crore poor and vulnerable families with an insurance cover of Rs. 5 lakh per family.

Ayushman Bharat expects to lead to standardised treatment guidelines for surgical and non-surgical procedures, with extensive use of data analytics to monitor implementation. The programme will also have a positive impact on allied industries such as pharma, medical devices, and diagnostics among others.

Some of the other key benefits of the programme includes:

• Low premium high penetration will benefit Universal Health Care.
• Mandatory cover to healthy young population will help lower Claim Ratio so that lower insurance premium will benefit all and as there is alternate payment mechanism available that will divert substantial patient flow towards private health care facilities, with the increased volumes reducing the processes for services.
• Quality of Health Care will improve as a number of initiatives are being undertaken – for example, NABH accreditations etc. specifically for quality in Healthcare Delivery Systems.
• Higher number of patients who are able to afford treatment will lead to better volumes for the pharma and device industries, with enhanced patient loads will lead to economies of scale for hospitals further leading to reduction in costs, making treatments more affordable.
• Access to affordable healthcare will mean that fewer people fall below the poverty line and debt traps as a result of health-related concerns.
• Initiatives like drug price control policies and capping the costs of Stent, Orthopaedic prosthesis etc is bringing in transparency in processes while ensuring that quality treatment can be provided at affordable pricing.
• Universal Health coverage can be a Win- Win situation for Insurance, Pharma, Devices as well as other related Health Care industries.

Though a laudable initiative, the scheme is not without its challenges. To begin with, universal healthcare on this scale will not be easy to execute, and more importantly fund. Within one year of its launch, one has already seen some challenges with regards to funding, and the contribution of states and the Centre.

While patients in urban areas may get access to healthcare, despite Ayushman Bharat, they may not be able to afford the costs of private hospitals. Additionally, rural India which largely lacks medical infrastructure will not benefit in the short-term. And, even if the state/ Central government were to build physical infrastructure, staffing them with qualified medical personnel would remain a challenge.

Despite economies of scale being an incentive, private hospitals may not necessarily agree to the prices prescribed by the government for treatment of patients under the programme. Similarly, with prices capped, it will lead to lower profits for pharma and device companies, who may become loath to offer their cutting edge advanced products and technologies in this market, depriving even those patients who can afford to pay for them with access.

Additionally, Integration of the Central programme with those launched by several state governments will remain contentious, and finally, while funding agencies may fund the programme, the money still has to be repaid and tax payers may well feel saddled by an additional burden.

Consumers are essential for the nation's economy. Without consumers, there would be no buying and selling of goods and services. Therefore, consumers must be given certain rights. Plus, with the increased popularity of e-commerce industries, the need to protect consumer rights is higher than ever. As a consumer and policyholder, you hold certain rights when it comes to insurance. This National Consumer Rights Day, let's find out what those rights entail.

What is National Consumer Rights Day?

Celebrated on 24th December every year, National Consumer Right Day promotes the rights of consumers across the country. People participate in campaigns to raise awareness about consumer rights. As a consumer, you can talk about fraudulent incidents on social media platforms to call out the violators.

Understanding consumers' insurance rights

Today, insurance should be an integral part of your financial planning. Insurance provides financial protection against unwarranted circumstances. As a policyholder, you should be aware of the following rights:

• Right to information

Before buying any policy, you have the right to ask the insurer everything you wish to know about the policy. Per the Insurance Regulatory and Development Authority of India (IRDAI), the insurance provider must communicate all policy-related information to you. Information includes inclusions, exclusions, waiting periods, deductibles, add-on riders etc.

• Right to terminate the insurance policy

You can cancel a policy within the free look period and receive a full refund of the paid premium amount. If applicable, the insurance provider may deduct any surrender charges or service fees. However, you should not have filed any claims during the free-look period.

• Premium payment rights

Typically, you pay a lump sum annual premium towards most insurance policies. However, IRDAI has allowed insurance providers to accept premiums via monthly, quarterly or half-yearly instalments. This offers relief to policyholders. You can conveniently change the frequency of the premium payments during policy renewals.

• Right to seek redressal

You can file a complaint against an insurance company. You can approach the insurer's grievance redressal cell. If you are dissatisfied with the response, you can voice your issues with the grievance redressal cell under the IRDAI's Consumer Affairs Department. You can also file complaints about delayed maturity payments and claim denials.

• Insurance claiming rights

Per IRDAI, an insurer must settle your insurance claims within 30 to 45 days of receiving the last necessary document. If there's a delay, the insurer pays 2% interest from the day the insurer receives the last document until finally paying the claim amount. Also, an insurer cannot reject your claim if you have held a policy with the insurer for eight consecutive years without a break.

Buy general insurance

All non-life insurance policies come under the ambit of general insurance. You can pay for expensive medical treatments with health insurance and pay for repairing accidental damage to your vehicle with motor insurance. Home insurance keeps your home and its content protected from the aftermath of natural and human-made disasters. Lastly, you can finance unforeseen expenses during your international trips with travel insurance.

This National Consumer Right Day, take a moment to understand your insurance rights before buying your general insurance policies.

Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.

"What is coronavirus"? This was the most asked question of 2020. As COVID-19, the illness caused by a new kind of coronavirus is spreading fast, you must be armed with the correct information about it and how you can prevent it. While fear is normal during these testing times, staying informed from reliable sources is a great way to allay your doubts. Thus, it is critical that you know everything there is to know about COVID-19.

Here are the answers to most frequently asked questions on COVID-19.

1. What is COVID19?

   COVID-19 is a contagious illness that is caused by a newly discovered coronavirus. It can spread from one infected person to another healthy person. Coronaviruses are viruses that are found among animals with some of them also known to infect humans.

2. How does it spread?

   It spreads just like the common cold. It mainly spreads from one person to another person, especially when they are in close contact. It also spreads through the respiratory droplets produced when an infected person sneezes or coughs.

3. What are the symptoms of COVID-19?<

   Some of the common COVID-19 symptoms are:

   • Cough
   • Fever
   • Exhaustion
   • Breathing difficulty
   • Nausea
   • Runny nose
   • Sore throat
   • Diarrhea

4. How can I protect myself?

   There are several ways in which you can reduce your chances of getting infected or spreading COVID-19. Here are some simple precautions that you should follow

   • Wash your hands regularly and thoroughly, for at least 20 seconds, using soap and water
   • Use a hand sanitizer
   • Practice social distancing. Keep 3 feet distance between yourself and others, especially anyone showing signs of illness such as coughing or sneezing.
   • It is best not to touch your eyes, nose and mouth with dirty hands. Before touching them, make sure you wash your hands because your hand touches many surfaces and can pick up the virus.
   • Make sure people around you use a tissue, mask & hanker-chief to properly cover their mouth when they cough or sneeze.
   • Stay indoors
   • Avoid large gatherings
   • Teach your children to wash their hands regularly and thoroughly. Make sure they stay indoors

5. Who is at risk?

   People who are above the age of 65 and those who have weak immune systems are at higher risk of developing severe complications from COVID-19. Also, people of all ages with medical conditions like chronic lung disease, diabetes, asthma, heart conditions and liver diseases are also at high risk of falling severely ill after contracting COVID-19.

6. Is it true that garlic and saltwater can prevent COVID-19?

   There are several myths that are circling on social media. However, we advise you not to fall for them. Some of the common myths are: parcels from China can spread COVID-19, home remedies can cure COVID-19 and you can catch coronavirus by eating Chinese food. All these are unfounded myths. If you want to keep yourself updated with coronavirus related news, it is best to follow trusted websites.

At, SBI General Insurance, we urge you to stay indoors, stay informed and alert. It is just as essential that you take the necessary precautions of updating your Health Insurance Plans, ensuring you have adequate coverage. Remember to consult your doctor if your notice any coronavirus symptoms. Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.

If the pandemic has taught us anything, it would be the importance of basic hygiene practices. Not all surfaces we touch are clean. You never know what germs, bacteria or viruses can enter your body. This Global Handwashing Day, let’s increase awareness and understand the importance of handwashing.

Global Handwashing Day – History & significance

Founded by the Global Handwashing Partnership, Global Handwashing Day is celebrated on the 15th of October every year. In 2008, over 120 million children across 70 countries washed their hands with soap to commemorate the first–ever Global Handwashing Day. The initiative aims to implement creative ways to encourage people to wash their hands with soap. National leaders can take this opportunity to demonstrate the simplicity of handwashing by building sinks and tippy taps. The theme for Global Handwashing Day 2022 is ‘Unite for Universal Hand Hygiene’.

Why You Shouldn’t Take Handwashing Lightly?

Disease–causing bacteria and viruses are present all around us. Here’s how these germs can spread:

• By touching your mouth or nose with unclean hands
• By touching things or people without cleaning your hands after sneezing or coughing
• By eating food without washing your hands
• By touching contaminated surfaces unknowingly

Washing your hands with water alone is not enough. The soap’s molecular structure traps dirt and germs in tiny bubbles known as micelles. These get washed away with water. Hence, handwashing with both soap and water is crucial to prevent diseases from spreading.

Ways to Maintain Hygiene?

While handwashing is the best line of defence, you should also practice essential hygiene habits to minimise the risk of contracting diseases. These include:

• Bathing regularly: The human body sheds skin constantly. The build-up of dead skin is a breeding ground for bacteria that can make their way into the body through the mouth or nose. Ensure you regularly clean your body and hair with soap and water.

• Trimming nails: Dirt can build up between fingernails. Even with thorough handwashing, getting rid of infected nail beds can be difficult. It helps to trim your finger and toenails frequently. Remember to lather soap under your nails while washing your hands.

• Covering your mouth while sneezing or coughing: Covering your cough or sneeze is an effective way to stop the spread of germs. You could unintentionally spread germs by expelling microscopic water droplets. The right way to sneeze or cough is into a handkerchief. Ensure you wash your hands right away. It also helps to carry hand sanitiser in your bag.

Prevent Financial Losses with Health Insurance

Handwashing can reduce the risk of contracting diseases through physical contact. Unfortunately, you may also be at risk of air–borne or water–borne diseases. However, health insurance helps cover the expenses of treating such illnesses and numerous other conditions. A health insurance plan is simply a contract between you and your insurance company, wherein the insurer promises to cover your medical costs up to a predetermined sum insured. Insurance provides you peace of mind and allows you to concentrate on getting the best treatment.

This Global Handwashing Day, ensure you secure your health financially with health insurance.

Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.