India is a developing country, and as per the data presented by the World bank in 2019, 65% of the Indian population belongs to rural areas.
Today COVID pandemic is at its peak, and a major part of the population has already been victimised; the cost of medical expenses has shown an unabated growth. In addition to that, the economically weaker section of society, the daily wage workers, farmers or small-scale industrialists, suffer from all kinds of illnesses because of poor hygiene and safety practices. Additionally, the medical treatment centres in their areas are still under development, so the problem prevails. These problems lead to one or the other issues, ultimately causing the deaths of a mass of people.
One thing that can be the best solution for these issues is a micro health insurance plan. Micro Health Insurance plans, also called bite-sized health insurance plans, are special medical insurance plans designed for people who cannot afford high treatment costs. These plans are the best alternative, especially for the people living in rural areas. While for some, micro health insurance plans are important health insurance add-ons, for some it is the only financial back-up in case of an illness.
Micro Health Insurance’s prominent features:
Following are some of the features that a Micro Health insurance policy offers
- As it is a micro health insurance plan, the sum assured offered here will have to be limited in some ways. The plan usually has an assured sum ranging from INR 1 lakh to INR 5 lakhs
- Micro health insurance policy term is fixed to only one year
- Micro health insurance plans are specially designed to offer quality healthcare services to the economically weaker sections of society at an affordable price
- The policyholder can opt for the family floater plan and include his entire family in the micro health insurance plan
- Micro health insurance policies come with a lifelong renewability feature, making them even more worth it
- The policyholder need not undergo any pre-entrance medical tests in case of micro health insurance plans
Micro Health insurance Benefits
Here are some of the micro health insurance benefits that one can look out for:
- Micro health insurance plans provide pre-hospitalisation charges for the insured
- Micro health insurance plans provide coverage for child care treatments.
- The policyholder gets quality treatment at various network hospitals
- The plan offers coverage for ambulance charges as well
Importance of Micro Health Insurance plans
When it comes to the poverty-stricken areas of our country, we know where we lie. The worst part is that most people in this section suffer from several severe illnesses and still get poor medical treatments. With micro health insurance plans, this section of the population is to be targeted.
Micro health insurance plans are very important for people with low-value assets or no savings. The issue of concern here is that rural families are offered poor medical facilities while they are more prone to illnesses. And very often, ignorance and non-awareness of these people worsen the case
Micro Health Insurance - A Step Forward
Many NGOs and organisations in India are actively spreading awareness about the importance of health insurance. Many organisations and government hospitals now offer free medical treatments and tests. The Government of India is planning to launch many similar schemes like micro health insurance plans to look after and manage the health of the rural population.
India is a country that still needs help when it comes to maintaining the health and fitness of its population. However, micro health insurance plans have contributed a lot. Slowly and steadily, the purpose of designing these plans is getting fulfilled. People are beginning to understand the importance of health, the right medication and insurance. The silver lining that came with COVID is that more and more people today are concerned about their health.