Indians dip into savings for medical expenses
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.