Our healthcare system is crumbling day by day and public is devoid of basic healthcare facilities though we proudly say that India is having access to any healthcare technology available in world but we feel if we can not provide it to masses, that technology is irrelevant for us. Government both at centre and state level are unable to do sufficient efforts because of budgetary constraint and mismanagement of available resources.
In developed countries government and insurance companies bear a part of healthcare expenses along with patient while in India most of the expenses have to be borne by the patient that leads to avoidance of health monitoring and costly delay in treatment.
A high expense in healthcare makes many poor families to remain below the poverty line and their whole life incomes become consumed in a single major surgery or treatment.
This paper is presenting an introspection of present health insurance system and prospect of health insurance in India and how could it change the Indian healthcare system and life of millions of Indians. Present growing market offer a large unexplored market for private insurance companies and offer new product (Insurance scheme) to millions of middle class Indians.