Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Introduced by the Prime Minister Narendra Modi, the health insurance scheme with a grand vision is named as <keyword id="6199405" type="UNKNOWN" weightage="20" keywordseo="ayushman-bharat">Ayushman Bharat</keyword> providing the subscribers a medical expenses cover of up to Rs 5 lakh. Here is what you must know about the scheme and the eligibility criteria that will help you benefit from the scheme. Called by other names such as the National Health Protection Mission (AB-NHPM) or Modicare, this government-sponsored health insurance scheme offers free coverage of up to Rs 5 lakh per family per year for medical care availed of at any government hospital or an empanelled medical care facility in India. The scheme is meant only for poor families and the economically deprived segments of the society. The scheme aims to cover about 10.74 crore beneficiary families and around 50 crore Indian citizens. Key aspects of <keyword id="6199968" type="UNKNOWN" weightage="20" keywordseo="Ayushman-Bharat-scheme">Ayushman Bharat scheme</keyword> The medical insurance cover will provide a maximum of about Rs 5 lakhs per family per year on secondary as well as tertiary medical care availed of from medical facilities. Eligibility is strictly based on the Socio-Economic Caste Census (SECC) database and those that are eligible will be covered by the program automatically without having to register for it. If a person from an eligible family is hospitalized, the family need not spend on the treatment when they visit a government or an empanelled private hospital for treatment. The policy covers all kinds of diseases and the benefit offers coverage both for pre and post hospitalization expenses. Unlike other kinds of medical insurance schemes, there is no waiting period for pre-existing ailments. Though Aadhaar card is not a mandated requirement for availing of the medical care under the Ayushman Bharat scheme, the beneficiaries will have to produce a prescribed ID at the hospital to receive free treatment. Eligibility criteria for Ayushman Bharat scheme in rural areas 1. Families inhabiting a single room or a domicile with “kuchcha walls and kuchcha roof" 2. Families in which there is no adult member in the age group 16 and 59 3. Family headed by a female with no adult male member belonging to the 16-59 age group 4. Families in which there is at least one disabled member and no able-bodied adult member 5. SC/ST households 6. Landless households making a majority of their earnings from manual casual labour 7. Extremely poor and those individuals surviving on alms 8. Families of manual scavengers 9. Families belonging to primitive tribal groups Eligibility criteria for Ayushman Bharat scheme in urban areas As per the guidelines issues as part of the Ayushman Bharat scheme, the following 11 occupational categories of workers are included in the list automatically. 1. <keyword id="6470258" type="UNKNOWN" weightage="20" keywordseo="Domestic-worker">Domestic worker</keyword> 2. Street vendor, cobbler, hawker, and other service providers working on the streets 3. Construction worker, plumber, mason, labour, painter, welder, security guard, coolie and other head-load workers 4. Sweeper, sanitation worker, and gardener 8. Home-based worker, artisan, handicrafts worker, and tailor 9. Transport worker, driver, conductor, helper to drivers and conductors, cart puller, and rickshaw puller 10. Shop worker, assistant, peon in small establishment, helper, delivery assistant, attendant, and waiter 11. Electrician, mechanic, assembler, and repair worker 12. Washer-man, and chowkidar 13. Homeless people

What is Prime Minister health insurance scheme?

<ul><li>The <keyword id="6199405" type="UNKNOWN" weightage="20" keywordseo="ayushman-bharat">Ayushman Bharat</keyword> scheme, which will cover nearly 110 million families to the tune of ₹500,000 per year, is set to be launched on September 25th. </li><li>Out of the 26 states which have signed MoUs for the scheme, only 4 have opted for the insurance model, while 20 have chosen to set up trusts. </li><li>Under an insurance model, the state appoints a insurance company to handle all claims, while in a <keyword id="22629" type="COMPANY" weightage="20" keywordseo="trust">trust</keyword> model, they establish a trust to disburse <keyword id="6354750" type="UNKNOWN" weightage="20" keywordseo="health">health</keyword> payments. </li></ul> In his inaugural Independence day address, India’s prime minister Narendra Modi announced that his government’s national <keyword id="6362363" type="UNKNOWN" weightage="20" keywordseo="health-insurance">health insurance</keyword> scheme, Ayushman Bharat, would be launched on September 25th. The scheme, which covers families to the tune of ₹500,000 per year, is expected to reach 500 million Indian citizens - making it the world’s largest public health insurance programme of its kind. When the scheme was first announced, it was assumed that India’s insurance companies would be key facilitators of the wide-ranging scheme, which has an expected premium outlay of ₹100 billion in the first year itself. However, a month before the scheme’s launch, it looks like the scheme won’t generate a lot of business for them. Trust vs insurance model The scheme is being carried out by state governments, who have two options. Either they take the normal insurance model, wherein they appoint a insurance company to handle all claims, or they opt for a trust model, wherein each state establishes a trust and disburses health payments and reimbursements through that fund. In the trust model, the fund involves a 60% contribution from the central government, with 40% coming from the state’s coffers. The central government has set aside ₹852 billion in its budget for the scheme. Out of the 26 states which have signed memorandums of understanding (MoU) for the scheme, only four - West Bengal, Jharkhand, Manipur and Nagaland - have opted for the insurance model, while 20 have chosen to set up trusts, according a report in the Indian Express. The states which are estimated to have 40% of the scheme’s intended recipients - Uttar Pradesh, Madhya Pradesh, Haryana and Bihar - have all opted for the trust model. Two other states, Gujarat and Chhattisgarh, have chosen a hybrid approach that combines both models, with the former awarding a contract to the state-owned Oriental Insurance Company and the latter contracting the services of Religare Health Insurance. OIC successfully bid a price of ₹361 to cover each family to the extent of ₹50,000 while Religare bid ₹1,100 for the same level of coverage. For any payouts above ₹50,000, the <keyword id="51011" type="ORGANIZATION" weightage="20" keywordseo="state-government">state government</keyword>’s trusts will step in. The popularity of the trust model isn’t without reason. Given the natural uncertainty around insurance payouts and premium increases, it’s a lot easier from a budgetary standpoint to establish a trust with government funds than be on the hook for payments to insurance companies. A trust model allows the government to set prices. Under the UPA government’s health insurance scheme, the Rashtriya Swasthya Bima Yojana (RSBY), a lot of state governments ran into arrears after having to subsidise the health insurance premiums of so many citizens. The RSBY scheme was also tainted with concerns that insurance companies were submitting very low bids and not honouring their claims. The trust model could overcome some of the hurdles of the previous national health insurance scheme, but its success rests on the ability of state governments to process claims and disburse payments in an efficient manner.

India’s insurers are being left out of the country’s national health insurance scheme

<ul><li><keyword id="43945" type="COMPANY" weightage="20" keywordseo="Chhattisgarh">Chhattisgarh</keyword> has become the latest state to exit the central government’s <keyword id="6199405" type="UNKNOWN" weightage="20" keywordseo="ayushman-bharat">Ayushman Bharat</keyword> <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> scheme. </li><li>In addition to <keyword id="6357783" type="UNKNOWN" weightage="20" keywordseo="West-bengal">West Bengal</keyword> and Chhattisgarh, the non-BJP ruled states of Odisha, Telangana as well as Delhi have also rejected the scheme. </li><li>All of these states either have plans to or have already started their own health insurance coverage schemes.</li></ul>The central Indian state of Chhattisgarh has become the latest state to exit the central government’s Ayushman Bharat insurance scheme. The state’s health minister, T S Singhdeo, said that the government would instead offer its <a href="https://indianexpress.com/article/india/chhattisgarh-to-move-towards-universal-healthcare-plan-t-s-singhdeo-5543794/">own universal healthcare scheme</a> featuring free medicines, outpatient care, and improved public health infrastructure via an existing network. In addition to West Bengal and Chhattisgarh, the non-BJP ruled states of Odisha, Telangana as well as Delhi have also rejected the scheme. All of these states either have plans to or have already started their own health insurance coverage schemes. Delhi, in particular, took a similar line as West Bengal in that it objected to how the scheme was being branded as mainly a central government programme. The common thread across these states rejecting the programme is that they are ruled by the rivals of <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword>’s Bharatiya Janata Party (BJP). However, that is not the only challenge. The national health insurance scheme was rolled out at the end of September last year, with the stipulated aim of covering 110 million families to the tune of half a million rupees a year. Around <a href="https://timesofindia.indiatimes.com/india/ayushman-bharat-a-game-changer-6-85-lakh-patients-treated-in-100-days-jaitley/articleshow/67335634.cms">685,000</a> patients had reportedly availed of the scheme by the end of 2018, according to Finance Minister Arun Jaitley. As the minister from Chhattisgarh explained, Ayushman Bharat provided insurance for secondary and tertiary <keyword id="6354525" type="UNKNOWN" weightage="20" keywordseo="healthcare">healthcare</keyword> in hospitals, whereas <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/chhattisgarh-govt-to-pull-out-of-ayushman-bharat/articleshow/67550227.cms">nearly 80%</a> of the state’s citizens required primary healthcare services. Outpatient treatment, which is hugely popular with India’s poor households according to <a href="https://www.brookings.edu/wp-content/uploads/2016/12/201612_health-and-morbidity.pdf">a Brookings report</a>, isn’t provided under the scheme. In addition, as public hospitals lack the requisite infrastructure, the government is relying heavily on private hospitals, which aren’t that widespread in semi-urban and rural areas and can promote expensive treatments to improve their margins. The programme is not well funded either. The central government will have to increase its annual funding for the scheme as its ₹20 billion allocation in the 2018 Budget is insufficient - <a href="https://www.livemint.com/Politics/kYhU6jUzQHcz4gexCpVUQP/Confident-of-getting-more-funds-for-Ayushman-Bharat-CEO-Ind.html">a view echoed </a>by the CEO of the programme, Indu Bhushan. As of end-December 2018, the central government had already authorised <a href="https://www.thehindubusinessline.com/money-and-banking/centre-has-spent-850-crore-on-ayushman-bharat-till-date/article25836102.ece">₹8.5 billion </a>worth of claims. A higher allocation will likely be unveiled in the government's interim budget on February 1st. Whose insurance is it anyway The state of West Bengal, which merged its own health protection programme Swastyasathi with Ayushman Bharat last year, also pulled out of the scheme. Chief minister Mamata Banerjee rationalised the move by citing the central government’s attempts<a href="https://indianexpress.com/article/india/mamata-banerjee-pulls-out-of-pmjay-ayushman-bharat-scheme-says-centre-taking-credit-5532864/"> to take full credit</a> for what was essentially a joint effort, wherein the state government shared 40% of the cost. While the states’ pull-out will affect the momentum and portability of the national programme, it also indicates the problems associated with its implementation. Granted, it's only been a little over 100 days since the scheme came into operation, but the gaps in the plan are already evident. SEE ALSO: <a href="https://www.businessinsider.in/indias-insurers-are-being-left-out-of-the-countrys-national-health-insurance-scheme/articleshow/65422864.cms">India’s insurers are being left out of the country’s national health insurance scheme</a> <a href="https://www.businessinsider.com/r-india-allocates-15-billion-for-modicare-health-insurance-2018-3">India allocates $1.5 billion for 'Modicare' health insurance</a>

India's 'Modicare' insurance scheme needs some fixing

With less than a month to go, there is a sense of anticipation from the <keyword id="6358021" type="PERSON" weightage="20" keywordseo="budget">Budget</keyword> 2015-16. Our Finance Minister, Mr Arun Jaitley faces a unique challenge of presenting an economy, industry and people-friendly budget. With the emerging markets struggling and the global economy still in the recovery phase, the government will have to ensure that India is on track for high growth and reduced fiscal deficit. Which is why, it has to be a foresighted, power-packed Budget. 
 From now till the budget, there will be lot of commentary and discussions about what the budget should do across economic, industry, and fiscal front. I’d like to focus on the <keyword id="65469" type="UNKNOWN" weightage="20" keywordseo="Financial-independence">financial independence</keyword> measures that should be included in the upcoming Budget through this post. 
 
1. Rethink/redesign pension schemes According to a recent report by <keyword id="6359483" type="CITY" weightage="20" keywordseo="Crisil">CRISIL</keyword>, pension schemes cover only 8% of employees retiring from the private sector. The remaining 92% have neither income security nor health insurance. This alarming statistic has put the focus on pension, yet again. Theoretically, there is National Pension Scheme and a host of insurance plans focused on pension protection for the masses. However, in reality, despite the National Pension Scheme being one of the cheapest pension products in the world, it has limited reach and awareness. Insurance pension plans are limited by regulation in terms of their attractiveness to the consumer as well as the distributor, and hence, continues to remain a well-kept secret from the people who need these products. The government needs to review the overall coverage, take bold steps in strengthening the distribution and awareness, and make these products at par with PFs and other saving products to boost their adoption. Further, the government needs to encourage retirement planning by enhancing tax exemption limits (or create a dedicated exempt category for retirement planning for approved products) and ensure no tax on the withdrawal amount or annuity income along with flexibility to buy any annuity plan in the golden years. These steps will not only ensure citizens’ welfare in their later years, but also help Central and State governments cut down their future liabilities. 
 
2. Focus on healthcare and health insurance India’s public spending on healthcare is just 1.3% of the <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword>. With 75% of the population outside the health insurance ambit, the government needs to put the spotlight on health insurance. As per the latest records of the World Health Organization, patients in India pay for 58% of the total healthcare expenditure from their own pockets compared to 11% in the US. The ever rising cost of medical expenses further necessitates the key role a good health insurance scheme can play in providing adequate protection to people in the time of need. According to the Insurance Regulatory and Development Authority of India (<keyword id="6361421" type="ORGANIZATION" weightage="20" keywordseo="IRDA">Irda</keyword>), insurance penetration stands close to 4%. Under the Health Insurance Vision 2020, the Indian government plans to cover 80% of the population, but it is easier said than done. Government would do well by showing some intent towards expanding healthcare access and clearing the insurance bill in the budget session; thereby, paving the way for additional FDI capital and multi-national interest in health insurance. 
 
3. Encourage home ownership 
According to a National Housing Bank report, more than 80% of the low-income groups and economically weaker sections in urban areas do not have access to institutional finance. These people depend on informal sources for their credit needs and, therefore, are not integrated in the formal financial market. The government should continue the additional exemption of Rs 1 lakh for the first time home buyers for 2015-16 also, and should remove the cap of Rs 25 lakh on the value of home as property prices in metro cities cross that limit easily. 
 
4. Increase investment limits 
The last suggestion is to again increase the investment limit under Section 80C of the income tax law. The reason this would help is because the household savings rate has been dipping and currently stands at ~30% of GDP. For salaried class, this move would encourage higher savings in to long-term instruments, most of which in turn, directly or indirectly, help long-term capital needs of the country. 
About the author: This article has been written by Naveen Kukreja, Director, PaisaBazaar.com

Budget 2015-16:
Time for financial independence

New Delhi, Feb 4 () The Health Ministry has released Rs 3,520 crore in last two years to states under the Ayushman Bharat scheme, Health Minister Harsh Vardhan informed Parliament on Tuesday.
Replying to a question in Rajya Sabha, Vardhan said the reasons for slow utilization of funds allocated under the health insurance scheme was because four states - West Bengal, Telangana, Odisha and Delhi - which account for 20 per cent of the eligible beneficiary population, were not implementing the scheme.
"Two big states (Punjab &amp; Rajasthan) have joined AB-PMJAY only in late 2019. Large states (UP, MP and Bihar) which account for 30 per cent of the beneficiary population are implementing the scheme for the first time and hence, their demand is still picking up," he said, explaining the reasons for the slow utilization of funds.
Vardhan said the experience of the last 16 months showed the average premium amount is Rs 800 per family per annum, however, this had been estimated at Rs 1,052 at the time of the inception of the scheme.
Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana is India's flagship public health insurance scheme. ASG ASG ABH
ABH

Released Rs 3,520 cr in last two years to states under AB-PMJAY: Health Minister

New Delhi, Jul 13 () Finance Minister Nirmala Sitharaman on Monday reviewed the implementation of the recently announced insurance scheme for health workers battling COVID-19 and emphasised the need for speedy settlement to help reach the benefits to the nominees at the earliest. The Rs 50 lakh insurance scheme is a part of the Pradhan Mantri Garib Kalyan Package (PMGKP) announced in March for three months for 22.12 lakh public healthcare providers, including community health workers, who may have to be in direct contact and care of patients suffering from coronavirus infection and who may be at risk of being impacted by this. The scheme, funded through the National Disaster Response Fund operated by the Ministry of Health and Family Welfare, was later extended for another three month till September. During the review meeting held via video conferencing, a presentation was made by the Chairman and Managing Director of New India Assurance providing details about the highlight of the scheme and its status of implementation as on date, an official statement said. Of the 147 intimations received till date, claim documents have been submitted for 87, out of which 15 have been paid, 4 approved for payment while 13 are under examination, it said. "Further, a total of 55 claims have been found ineligible, out of which 35 claims fall outside the scope of the cover like police personnel, municipal workers not related to hospitals, people from education, revenue departments, etc, while another 20 claims submitted have the cause of death other than COVID-19 like cardiac arrest, etc," it said. It is to be noted that the New India Assurance is implementing this insurance scheme. During the meeting, the finance minister highlighted the importance for a speedy settlement and emphasised the need of the benefit reaching to the nominees at the earliest. Officials from the Ministry of Health and Family Welfare provided an overview of the mechanism being followed with state nodal authorities to expedite the claims, also highlighting the issues being faced while reaching out to the family of deceased as well as obtaining the legal heir certificate, it said. Along with health ministry officials, senior officials from the Department of Financial Services were also present in the meeting. While announcing the scheme, the finance minister had said, safai karamcharis (sanitation workers), ward boys, nurses, ASHA workers, paramedics, technicians, doctors and specialists and other health workers would be covered by the special insurance scheme. However, the Ministry of Health and Family Welfare later in an FAQ clarified that private hospital staff treating COVID-19 patients will also be covered. DP MKJ

FM calls for speedy settlement under insurance scheme for healthcare workers battling COVID-19

No expert committee has been set up for extending <keyword id="19923745" type="General" weightage="20" keywordseo="health-benefits" source="keywords">health benefits</keyword> to cover citizens aged 70 and above under <keyword id="19913233" type="General" weightage="100" keywordseo="Ayushman-Bharat" source="keywords">Ayushman Bharat</keyword>, <keyword id="22556022" type="General" weightage="20" keywordseo="Union-Minister-of-State-for-Health" source="keywords">Union Minister of State for Health</keyword> Prataprao Jadhav told the Lok Sabha on Friday. He was responding to a question on whether the government proposed to cover citizens aged 70 and above by expanding Ayushman Bharat through the launch of a <keyword id="21782708" type="General" weightage="20" keywordseo="National-Health-Claims-Exchange" source="keywords">national health claims exchange</keyword> and if an expert panel had been set up to strengthen the format of the scheme for the planned expansion. Jadhav, in a written reply, said all members of eligible families, irrespective of age, were covered under Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana. The scheme provides <keyword id="19894985" type="General" weightage="20" keywordseo="health-insurance" source="keywords">health insurance</keyword> cover of Rs 5 lakh per family per year for secondary and tertiary care hospitalisation to 55 crore individuals, corresponding to 12.34 crore families, he said. "No expert committee has been set up for extending the health benefits to cover <keyword id="19894991" type="General" weightage="20" keywordseo="senior-citizens" source="keywords">senior citizens</keyword> aged 70 and above," he stated. Responding to another question, Jadhav said 34 insurers and third-party administrators were live and approximately 300 hospitals ramping up to start sending their claims on the National Health Claims Exchange (NHCX), which aims to streamline and fasten health <keyword id="35450" type="General" weightage="20" keywordseo="Insurance" source="Orion">insurance</keyword> claim processing, as on July 21. Jadhav said the government built the NHCX gateway under the Ayushman Bharat Digital Mission. It aims to streamline and standardise health insurance claim processing, enhance efficiency in the insurance industry and improve patient experience. It serves as a gateway for exchanging health claim information among insurers, third party audit, healthcare providers, beneficiaries and other relevant entities and ensures interoperability, machine-readability, auditability and verifiability, making the information exchange accurate and trustworthy, the minister said. This system will enhance efficiency and transparency in the insurance industry, benefiting policyholders and patients, he added. Supported by the Insurance Regulatory and Development Authority of India and the General Insurance Council, the NHCX will enable standardised and faster health insurance claim processing, Jadhav said.

No panel formed for extending benefits to cover citizens above 70 under Ayushman Bharat, says govt

(Eds: Adding Marico's comments) New Delhi, Apr 27 () Leading FMCG companies as Nestle India, Godrej Consumers Products Ltd, Marico and Dabur are providing special insurance covers to frontline workforce, including those of distributors, who are engaged in supply and distribution of their products during the coronavorus pandemic.The FMCG makers, which have witnessed a huge disruption in their supply chain during the lockdown, are empowering their frontline workforce with medical insurance schemes covering risk against any possible fallout from COVID-19, which includes cashless treatment to reimbursement of medical expenses, in case of any eventualities during their work.The companies have tailored special schemes in collaboration with many insurance firms to keep people involved in its supply chain motivated so as to ensure supply and availability of their products in the market during the health crisis.Godrej Consumers Products Ltd (GCPL) on Monday said it has insured over 4,000 extended workforce part of the supply and distribution chain in India."The medical insurance covers personnel on channel partners' payrolls or contracted by them to ensure smooth business operations for GCPL. For medical hospitalisation or treatment of COVID-19, each employee is entitled to cashless treatment or reimbursement of medical expenses up to Rs 50,000," GCPL CEO – India and SAARC Sunil Kataria said.The persons covered under the medical insurance are contract labourers, delivery teams, carrying and forwarding agents, loaders and unloaders and logistic teams including drivers."COVID-19 has posed a great threat to public health in India. Be it permanent, contracted or third-party, GCPL has commitment towards all its extended workforce," he added.The Godrej Group firm has established a "comprehensive health and safety monitoring system" in all its operating locations and said it "will continuously review our policy to keep them in line with current requirements and needs of our workforce".Similarly, Marico Ltd Chief Human Resource Officer Amit Prakash said apart from securing its people on ground with personal protective equipment, all distributor salespersons are covered under insurance for COVID-19 related treatment. "We have extended insurance covers for distributor salespersons for COVID related treatment and the ones not covered by the insurance are given a special COVID insurance cover for a year. They will also be given extra monetary help under 'COVID Assistance'," he added.For other staff of distributors such as delivery personnel, operators, loaders, merchandisers who do not have insurance cover and are detected positive with COVID-19 and hospitalised, Marico will provide medical assistance, Prakash said.Likewise, homegrown wellness and FMCG firm Dabur India has also introduced a special insurance scheme 'Dabur Aashray' for its frontline staff and its distributors."With the entire country under lockdown, the frontline staff at Dabur and our distributor partners have been working towards ensuring regular supply of medicines, essential products, food and hygiene products to citizens," Dabur India CEO Mohit Malhotra said.He further said, "We have rolled out a special insurance scheme 'Dabur Aashray' for over 600 individuals who are currently not covered under the corporate and state insurance scheme to support them and take care of their medical needs in case of any emergency arising out of COVID-19."Similarly, Nestle India has also introduced a special scheme called "Nestle Suraksha" covering all the frontline sales force, which work with their distributors for next three months."Our frontline sales force who work for our distribution partners are the heroes who ensure Nestle India's standing in the marketplace and we will looking at rolling-out a 'Nestle Suraksha' programme to cover each one of them, who is not covered by Employees' State Insurance, with a COVID-19 insurance protection for a period of three months," said a Nestle India spokesperson.He further said: "We want them to be safe and protect them should any unfortunate COVID-19 related event be fall them."India is presently going through an extended lockdown period till May 3 as the government tries to curb the spread of coronavirus pandemic. The virus has so far taken 886 lives in the country and infected as many as 28,380 people, according to the Union Health ministry. KRH RKL MKJ

COVID-19: FMCG cos launch special insurance schemes for frontline workers

<h1>
	 </h1> For a young person in his or her early 20’s, getting a <keyword id="6362363" type="ORGANIZATION" weightage="20" keywordseo="health-insurance">health insurance</keyword> plan is the last thing on the priority list. Unlike the West, where there is a lot of awareness about the need for medical insurance, in India, most people are yet to come to terms with the benefits and financial security that a health scheme offers. In fact, <a href="http://www.businessinsider.in/8-Insurance-Schemes-Modi-launched-and-how-they-benefit-you/articleshow/47418104.cms">Prime Minister Narendra Modi’s policy of insurance-led community engagement</a> stems on the basic philosophy of providing coverage to all Indians. 
 
Most young people procure a health insurance scheme only when they start working. Corporate companies offer health insurance to their employees at an affordable premium. However, corporate health does not offer comprehensive cover, which is why taking up an individual health insurance plan is such a necessity. 
 
Besides being oblivious about benefits of health cover, majority of youth feels that health insurance product is designed for middle age persons with families, senior citizen and critically ill individuals. In reality, this assumption is far from true. People only start relating with the importance of health insurance in mid-30s and 40s or when they are faced with a medical emergency and regret not taking a comprehensive health plan early on in life. This is because taking a health insurance at the start of a career (let’s assume 24 years) has many benefits such as – 
<h2>
	You pay less premium amount</h2>
 The biggest deterrent why most people hesitate taking a health insurance plan is that the premium amount they pay each year seems like an unnecessary expenditure. It is not only naïve to put a price tag on one’s health, but it is also important to view this expense as an investment in your health. Lifestyle diseases such as hypertension and diabetes are on the rise affecting more and more younger people. While the average age of the onset of diabetes is believed to be 45 years, doctors and physicians across various hospitals in the country have <a href="http://www.dnaindia.com/health/report-the-young-the-diabetic-2037486">reported</a> that a lot of people in 20’s and 30s are being diagnosed with Type II diabetes. It is to be noted that diabetes is the underlying cause for some ailments like kidney disease, heart-related disorder, and even stroke. 
To give perspective, taking a health insurance plan at a younger age means that you will be required to pay lower premium rate. The math is simple; greater the age, higher will be the premium. 
<h2>
	You get a health cover, even when you travel</h2>
It’s a common thing for working individuals in their early 20’s to plan holiday and trips with friends and colleagues. Although it is highly unlikely that a medical emergency will strike, it doesn’t hurt to be prepared for one. So, whether you are on a weekend getaway trip to Manali, Shimla or Lonavala or a holiday of the year to Goa, your medical insurance plan will come in handy. This is because more health plans such as <a href="https://www.hdfcergo.com/health-insurance.html">HDFC ERGO medical insurance</a> have tie-ups with a range of hospitals and multi-specialty clinics across India. All you have to do in go to a partner hospital and receive cashless treatment. In case you are visiting a non-partner hospital, you can produce the bills so as to get 100% reimbursement. 
<h2>
	You do not have to worry about waiting period</h2>
As per medical insurance terminology, waiting period is defined as the duration of time (which is usually 3-4 years, depending upon the policy), during which you cannot make any health claims for certain diseases. Buying, the health insurance at a younger age means, that by the time you need the assistance of the policy you have already exhausted the waiting period. This point stands valid with the statement- that you buy a health insurance when you don’t need one. 
<h2>
	You get a cover on wide range of procedures</h2>
Cashless hospitalizations, reimbursement on medical bills are some of the standard benefits of a comprehensive health insurance plan. In addition to that, the medical plan also covers an array of day care procedures like a minor eye surgery, skin tag removal, sinus operation, etc. that do not require hospitalization. 
<h2>
	You can avail tax benefits</h2>
Taking a health insurance plan at a young age means that you will start enjoying tax benefits. Under the section 80D of the Income-tax Act, an individual who has an ongoing health insurance policy can avail tax benefits. 
<h2>
	In conclusion</h2>
Learning the art of financial planning early on in life can prove to be highly beneficial in the long run. For a young person who has recently joined the workforce, the start can be by <a href="http://economictimes.indiatimes.com/wealth/insure/eight-reasons-to-buy-health-insurance-before-you-turn-30/articleshow/37317352.cms">taking up an optimum health plan</a>. Medical treatment is expensive and often come unannounced. Therefore, to secure your finances and saving, it is wise to take a health insurance cover in the early 20’s of life. 
 
(The article is authored by <a href="https://plus.google.com/+UtkarshSahu9?rel=author">Utkarsh Sahu</a>, a digital strategist with over three years of writing experience for business magazines) 
 
(Image: Thinkstock)

These are the 5 reasons you should get health
insurance in your early 20s?

<ul><li><keyword id="2071614" type="PERSON" weightage="20" keywordseo="Job-creation-in-India">Job creation in India</keyword> fell by 6.91% in January to 1.12 million, according to Employee State Insurance Corporation (ESIC) payroll data. </li><li>Indian Economy was able to create 1.20 million job same time last year. </li><li>The ESIC scheme attracted nearly 20.8 million new subscribers from September 2017 to January 2019.</li></ul>While <a href="https://www.businessinsider.in/indias-unemployment-rate-for-february-highest-in-two-years-cmie/articleshow/68280848.cms">unemployment in India stood at 7.2%</a> in February this year, the number of jobs created in the country also fell by 6.91% in January. The number decreased to 1.12 million from 1.20 million during the same time last year, according to the numbers put out by Employees State Insurance Corporation (ESIC). The ESIC scheme includes health and medical benefits for organisations that have an employee base of more than 20 and to employees with monthly pay upto ₹21,000. At the time of joining, the workers with basic monthly pay up to 15,000 are included under the ESIC scheme. According to ESIC scheme data, which provides health insurance and medical services, added nearly <a href="https://www.moneycontrol.com/news/business/economy/job-creation-dips-6-9-in-jan-to-11-23-lakh-esic-payroll-data-3698601.html">20.8 million new subscribers</a> from September 2017 to January 2019. The payroll data, floated by the Central Statistics Office, is based on the working professionals joining social security schemes under Employees Provident Fund Organisation (EPFO) and Pension Fund Regulatory Development Authority (PFRDA). Nearly 7.64 million subscribers were reportedly added to the scheme. From last year onwards, the CSO has been rolling out statistics on jobs and employment covering the data from September 2017. The report is based on the number of subscribers under the three schemes — Employees' Provident Fund (EPF) Scheme, Employees' State Insurance (ESI) Scheme and National Pension Scheme (NPS). However, the creation of jobs in the formal sector projected to a 17-month high at 896,000 in January 2019, the report highlighted. With elections just around the corner, the numbers on employment and jobs has been affecting the country’s youth largely. According to a recent <a href="https://www.businessinsider.in/indias-unemployment-rate-stands-at-13-2-among-graduates-and-post-graduates-cmie/articleshow/68517075.cms">analysis</a> by the Centre for Monitoring Indian Economy (CMIE), the unemployment rate hits the highest for the highly educated segment — bachelor’s degree and above — at 13.2%. See also: <a href="https://www.businessinsider.in/indias-unemployment-rate-for-february-highest-in-two-years-cmie/articleshow/68280848.cms">India's unemployment rate for February highest in two years: CMIE</a> <a href="https://www.businessinsider.in/indias-unemployment-rate-stands-at-13-2-among-graduates-and-post-graduates-cmie/articleshow/68517075.cms">Fewer jobs for better educated: India’s unemployment rate stands at 13.2% among the highly educated segment</a> <a href="https://www.businessinsider.in/male-workforce-is-reportedly-shrinking-in-india-reveals-job-survey-by-nsso/articleshow/68498030.cms">Male workforce is reportedly shrinking in India, reveals job survey by NSSO</a>

Job creation in India slows down by 6.9% in January: ESIC payroll data

<keyword id="2750528" type="PERSON" weightage="20" keywordseo="Pradhan-Mantri-Jeevan-Jyoti-Bima-Yojana">Pradhan Mantri Jeevan Jyoti Bima Yojana</keyword> is an innovative life insurance scheme of the Central Government of India which intends to benefit the poor and low income section of the society. Available to people between 18 and 50 years, the PMJJBY is a renewal kind of annual insurance plan that provides a life insurance coverage of Rs 2 lakhs in the event of the death of the subscriber due to any reason. The annual premium to enroll for this scheme is Rs 330 per annum. Important highlights of Pradhan Mantri Jeevan Jyoti Bima Yojana Life coverage for 1 year. The policy is renewable year on year by the insured. The insured can get out of the scheme and join it back again at any time. The policy provides a maximum of Rs 2 lakh risk coverage. The annual premium is Rs 330 only and the premium rate is equal for people of all ages between 18 and 50 years. The claim process is very simple and subscriber friendly. The death benefit will be terminated in the following cases If it is known that the insured person is above 55 years If the policy holder has subscribed for insurance through different bank accounts If the individual does not have enough bank balance to keep the insurance in force Benefits Provided by Pradhan Mantri Jeevan Jyoti Bima Yojana In case the insured happens to die during the period of subscription, the plan will give a death coverage of Rs 2,00,000 to the registered beneficiary of the policy Since this is purely a term insurance plan, the scheme does not offer any maturity or surrender benefit The premiums paid for the coverage is tax deduction eligible under section 80C of the Income Tax Act. If the subscriber has not submitted form 15 G/15 H, the life insurance proceeds going beyond Rs 1,00,000 will be taxable by 2%. The period of risk coverage under this scheme is one year. This policy can be renewed annually. I the auto debit option is enabled in the <keyword id="114757" type="PERSON" weightage="20" keywordseo="Savings-Account">savings account</keyword> of the person, a longer duration of coverage can be opted for. Eligibility Criteria for Pradhan Mantri Jeevan Jyoti Bima Yojana Any person between the age of 18 and 50 years can join this scheme through participating banks. The individual must first open a bank account with a bank of their choice. If the individual has multiple bank accounts, they can subscribe to this scheme only through a single savings bank account. To be able to benefit from the plan, linking aadhaar number with the bank account is mandatory. Those subscribers to this insurance plan joining after the primary enrolment plan between 31 August 2015 and 30th November 2015 will have to submit a self-attested medical certificate to prove that they are not suffering any critical illnesses that are listed out in the policy declaration form. Summing up This is a very simple scheme to which an individual can subscribe to by just linking the aadhaar card with the participating bank account. The subscribers can enroll themselves for this program at any time by making a full annual premium payment and submitting a health certificate.

All you need you about central government’s life insurance scheme

<a data-type="tilCustomLink">Check Live Budget Update</a> Amidst growing anticipations about the 2019 <keyword id="547606" type="ORGANIZATION" weightage="20" keywordseo="interim-budget">interim budget</keyword> by the present government, let us look back at the budget 2018 and compare it with the earlier ones to understand the amount of focus the public health sector receives in India. The spending on health by budget 2018-19 shows a rise of about 13% over what was allotted for this sector in the earlier budget. As part of this budget, the Finance Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> declared the globe’s largest national health insurance program. The budget also sanctioned scholarships for about 1,000 doctorate engineering students at the IIT and IIS. Construction of 18.8 million toilets across the country was announced to be completed by 2019. Some key points on the 2018 budget allotment towards public health There was a 2.1% decrease in the allocation towards the national health mission, which is the country’s largest primary health infrastructure program. In order the fund the increased allotment towards the health and education sector, Arun Jaitley said the cess on education and health payable by the taxpayers will rise to 4 percent from 3 percent. Presenting the bill in the Lok Sabha, he said, “This will enable us to collect an estimated additional amount of 11,000 crores.” Spending on health by the Narendra Modi Government <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Budget </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Allocation on health </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">Percentage share of the total budget </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2014-15 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">33121.42 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">1.8 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2015-16 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">30626.39 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">1.7 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2016-17 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">37671.3 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">1.9 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2017-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">51550.85 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2.4 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2018-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">52800 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;">2.1 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;"> </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;"> </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:0pt 5.4pt 0pt 5.4pt;"> </td></tr></tbody></table> Budget 2018 introduced a new national health insurance scheme which came as the world’s largest one covering 100 million households for Rs 5,00,000 per year per family. This scheme covered 30,000 more individuals than the one that preceded it. The spending on the Health Ministry decreased to 2.1% of the total Union Budget from the 2.4% in 2017-18. There was a 2.1% decline in the allocation towards National Health Mission, a National Health Program that provides the primary healthcare infrastructure by sliding from Rs 31,292 crores (2017-18 budget) to Rs 30,634 crores (2018-19 budget). As part of the government’s commitment to improve the nutrition status of the Indian children, the budget for the National Nutrition Mission that addresses under-nutrition, anemia and stunting increased by three times from Rs 950 crores in the 2017-18 budget to Rs 3,000 crores in the 2018-19 budget. Arun Jaitley said, “The Ayushman Bharat will build a New India 2022 and ensure enhanced productivity, well-being and avert wage loss and impoverishment. These schemes will also generate lakhs of jobs, particularly for women.” He added, “The government will also set up 24 new medical colleges and hospitals and upgrade existing district hospitals in the country.” The other kinds of investments in budget 2018 towards health Rs 600 crores was allotted for providing nutritional support to all the tuberculosis patients registered with the primary health centers. This scheme will spend Rs 500 per month per patient for 10 months over the full duration of the treatment provided. Rs 1,200 crores went for the National Health Policy, 2017 to support more than 150,000 health and wellness centers. This allotment aimed at combating the rising tide of non-communicable diseases like diabetes and other cardiovascular ailments.

You Searched For "health insurance schemes" and got 12 results

What is Prime Minister health insurance scheme?

BI India Bureau

India’s insurers are being left out of the country’s national health insurance scheme

Dilsher Dhillon

India's 'Modicare' insurance scheme needs some fixing

Dilsher Dhillon

Budget 2015-16: Time for financial independence

Guest Author

Released Rs 3,520 cr in last two years to states under AB-PMJAY: Health Minister

PTI

FM calls for speedy settlement under insurance scheme for healthcare workers battling COVID-19

PTI

No panel formed for extending benefits to cover citizens above 70 under Ayushman Bharat, says govt

PTI

COVID-19: FMCG cos launch special insurance schemes for frontline workers

PTI

These are the 5 reasons you should get health insurance in your early 20s?

Guest Author

Job creation in India slows down by 6.9% in January: ESIC payroll data

BI India Bureau

All you need you about central government’s life insurance scheme

BI India Bureau

Understanding the budget allocation for health In India

BI India Bureau

Popular Keywords

Buying Guides