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Historically, there have been several government-funded health insurance schemes intended to improve coverage for specific population groups, with variations across states. One important scheme aimed at reducing financial catastrophe and vulnerability for lower-income populations is the National Health Insurance Program (Rashtriya Swasthya Bima Yojana, or RSBY), launched in 2008. As of 2016, some 41 million families were enrolled in RSBY.2 However, evidence indicates that the scheme has not significantly reduced out-of-pocket spending. It is now being subsumed under the PM-JAY.

At the federal level, the Ministry of Health and Family Welfare has regulatory power over the majority of health policy decisions but is not directly involved in health care delivery. The ministry comprises two departments:

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Role of public health insurance: Total public and private health expenditures as a percentage of GDP are estimated at 3.9 percent, significantly lower than the world average of 9.9 percent.7 The public sector accounts for approximately one-quarter of health expenditures.

There are various public insurance schemes, including RSBY, which provides hospital coverage for most diseases and pre-existing health conditions for individuals living below the poverty line (with a family cap of five members). Outpatient care, primary care, and high-level tertiary care are not included.

Funding for the public insurance schemes is divided between the central and state governments. For instance, most states are contributing a 40 percent share to the cost of the National Health Protection Scheme, with the central government providing the remaining 60 percent.

Funding for the National Health Protection Scheme has been allocated under the existing budget for the RSBY, which has doubled from 2018 to accommodate expanding public insurance costs.9 To further support these initiatives, the cess (levy) on income tax was increased from 3 percent to 4 percent, to collect an estimated INR 110 billion (USD 1.54 billion) annually.10

Many public hospitalization schemes partner with public and private insurance companies to run the plans. The PM-JAY has offered private sector hospitals incentives to increase supply in underserved areas by providing access to funding and land for hospital construction in urban-rural and rural cities.17

The Insurance Regulatory and Development Authority Act of 1999 allowed for private companies to enter the health insurance market.18 The 1999 act also allowed for individuals who are not eligible for sponsored insurance schemes to purchase a private policy. Private insurance now accounts for nearly 4.4 percent of total current health expenditures.19

A significant proportion of the population faces impoverishment due to lack of insurance and high out-of-pocket expenditures. An estimated 8 percent of the population is being pushed below the poverty line as a result of high out-of-pocket payments.22

All medical personnel, including primary and specialty physicians, working at public outpatient or inpatient facilities are paid fixed salaries, which vary based on area of work and level of specialization. Currently, there are no performance-based payment incentives. However, the prime minister announced recently that all accredited social health activists will be enrolled in one of the social security schemes and provided free insurance coverage.

Despite recent policy measures to strengthen mental health care, resources are extremely limited. Across India, there is only one trained psychiatrist for every 250,000 people and fewer than one mental health worker for every 100,000 people.41 In addition, few hospital beds are dedicated to inpatient psychiatric care.42

Most private insurance plans typically do not provide comprehensive coverage for such care.43 In the few that do, covered treatment options usually focus on short-term psychotherapy rather than on long-term management.44

Some states have launched their own activities to increase access to palliative care. In Kerala, for example, the state was the first to establish a palliative-care policy, which subsequently resulted in a network of more than 60 facilities that provide low-cost and community-based hospice and palliative care.47 This implementation model has resulted in similar policies and projects that have been launched in Assam, Maharasthra, Punjab, Haryana, and Karnataka by state governments and nongovernmental organizations.48

Structural quality is also ensured through mandatory continuing medical education (CME), instituted by the Medical Council of India. However, some state governments do not enforce this policy; only nine of the 26 states mandate physician participation in CME.53

46 V. Govindarajan, Seven Years Ago, India Promised Health Care Units for the Elderly. Where Are They?, -years-ago-india-promised-health-care-units-for-the-elderly-where-are-they; accessed May 25, 2018.

As individuals it is inherent to differ. Each individual's insurance needs and requirements are different from that of the others. LIC's Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement.

You may have seen recent news coverage of customers of financial services companies falling victim to social engineering scams. Scammers impersonate a trusted company to convince their targets into revealing or handing over sensitive information such as insurance, banking or login credentials. This scamming can happen via text, email or websites set up to look like the trusted company.

Employees are seeking a broader mix of wellness benefits and programs to meet their needs. According to our newest research, employers can bolster loyalty by offering disability insurance and paid or unpaid leave, as well as providing flexibility and support when employees need to take time away from work.

Traveling abroad can be for a holiday or for business purpose. During the journey, you are susceptible to many risks away from home. There can be unfavorable incidents like thefts, accidents, loss of tickets, baggage, documents, and trip cancellation. A travel insurance, in this case, becomes vital. It covers the expenses incurred in the event of loss or medical treatment.

Car insurance policy is mandatory under the Motor Vehicle Act. The policy ensures that the car owner is protected from financial losses, caused by damage or theft to the vehicle and third party liability.

All car insurance policies are annual policies issued for a period of twelve months. You will have to renew the policy before the specified expiry date mentioned on the policy document. There are certain benefits of doing so:

No Claim Bonus (NCB) is a discount on premium of the own damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. The NCB can be accumulated up to a maximum limit of 50% on own damage premium for private cars. You can transfer the full benefits of NCB, even when you shift your car insurance from any other Insurance company.

Nomination is a right conferred on the life insurance policyholder to appoint a person or persons to receive the policy money in the event of the policy becoming a claim by death. Any policyholder who is a major and the Life Insured under a policy can make a nomination. A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.

Bike insurance policy is mandatory under the Motor Vehicle Act for every vehicle on the road. . The policy ensures that the bike owner is protected from

financial losses, caused by damage or theft to the vehicle and third party liability.

NCB is a reward for not raising a claim. It is a discount on the premium of the Own Damage (OD) portion of your vehicle when you renew your policy, provided you have not made any claim during the last policy period of one year. The NCB can be accumulated up to a maximum limit of 50% on OD premium.

Constructive Total Loss refers to accidental loss/ damage to your vehicle where the aggregate cost of retrieval and/ or repairs amounts to be more than 75% of the Insured's Declared Value (IDV) on your policy.

Disclaimer

The advertisement contains only an indication of the cover offered. For more details on risk factors, terms, conditions and exclusions, please read the policy wordings carefully before concluding a sale.

This information is provided by American Express Banking Corp. (AEBC), India, having its Principal office at MGF Metropolitan, Office Tower, Level 7, District Centre, Saket, New Delhi-110017. Insurance Regulatory and Development Authority of India has authorized AEBC India to act as a Corporate Agent from 1st April, 2022 to 31st March, 2025 for soliciting and procuring General Insurance and Life Insurance business under Registration No. CA0066. The contents of this message (including any attachments) and the contents there of are attributable solely to the ICICI Lombard General Insurance Company Limited, Future Generali India Life Insurance and PNB MetLife India Insurance Company Ltd. ('Insurance Company'). No part of the same is either directly or indirectly, attributable to AEBC. The participation of the Card member is purely on a voluntary basis. Any such person who purchases or otherwise subscribes to the Insurance Product would do at his/her discretion and shall not receive any advantages in additions to those which he/she would ordinarily be entitled to as an American Express Card member. AEBC India does not accept any responsibility for the Insurance Company's actions or decisions. AEBC holds no warranty & makes no representation about claims processing. The contract of Insurance is between the insurer and the insured and not between the bank and the insured. Insurance company is liable to claims processing as per the terms and conditions of this Policy. AEBC India identifies insurance providers and products that may be of some interest to some of their customers. In this role, American Express does not act as an agent or fiduciary for the Card member, and may act on behalf of the insurance provider (as its agent or otherwise), as permitted by law. Please be aware that we receive up to 15% of the premium as commissions for Non-Life insurance products and up to 30% in the first year and up to 10% of the premium in the subsequent years for Life insurance products from providers as per Insurance Regulatory and Development Authority of India guidelines. 006ab0faaa