Government Health Insurance Schemes And Private Health Insurance Schemes - A Comparative Study

Abstract

Health insurance policies are a boon to the people to meet their contingent hospital expenses. Its premium rates are affordable and designed to cover all income group of people. Nowadays, people understand the importance of health insurance. There is a mushroom growth of private health insurance companies. Government also renders valuable services to the people via Government health insurance schemes. As on 31^st March 2024, the number of people covered by Government health insurance policy is 33.56 crores and private health insurance schemes are 41.28 crores. Nearly seventy per cent of the people come under the boundary of health insurance schemes. The hospital coverage of expenses is increased under health insurance schemes. In this article, the opinion of the respondents towards Government health insurance schemes and private health insurance schemes are compared with regard to coverage, premium rate, claim processing, waiting period, flexibility and customization.