Health insurance in India: more from your pocket

January 2007 saw the introduction of free pricing regime in the Indian insurance sector. This has meant that insurers are starting to 'price' risk more actively, particularly in health insurance. In practical terms, this impacts individuals who are covered by health insurance policies in the following ways:

• Premiums could have gone up by 30-100 %
• Larger portion on the medical costs need to be paid by the individual, before insurance kicks in
• Approved hospital lists are getting shorter as insurers try to reduce costs.

It is therefore advisable to read your health insurance policy in detail now to avoid surprises when you need the money !