In­di­ans dip into sav­ings for med­i­cal ex­penses

India Business Journal - - NEWS ROUND-UP -

A whop­ping 62 per cent of In­di­ans paid from their own pock­ets for their med­i­cal ex­penses in 2016, ac­cord­ing to a re­cent study by Cigna TTK Health In­sur­ance. The study re­veals that In­di­ans pri­mar­ily de­pend on their own sav­ings when it comes to fund­ing health emer­gen­cies. It also un­der­scores the low pen­e­tra­tion of health in­sur­ance in the coun­try. While 85 per cent of In­di­ans are cov­ered by pri­vate med­i­cal in­sur­ance, nearly two-thirds of med­i­cal ex­penses are self-funded. Lo­cal gov­ern­ment and pub­licwel­fare schemes con­trib­ute a pal­try 7 per cent.

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