Why Buy Health Insurance?
Health insurance policy offers a peace of mind; help to reduce stress about treatment expenses. They also help you to focus your energy on getting better treatment and acquiring good health faster.
Most people suffer from high levels of stress, because of life style changes such as they work for long hours. They eat junk food no exercise and the huge traffic and less infrastructure it increase the chances of accident in urban areas and also most of the people are now obese. Suffering from B.P., Sugar, Heart attack, strokes in age of 35 To 40.
The Hospitalization cost of health care expenses is unbelievably expensive. Modern research and technology have resulted in cures for dreaded diseases. However these cures have high operating cost and hence are available to a select few. In fact even among the affluent class of people, 10-20 % need to sell their valuable assets so that they can accumulate the total amount need for the treatment. It is estimated that the cost for hospitalization and other medical expenses would further rise with the increase in inflation.
Cost Of Surgeries
| Sr. No. | Treatment | 2007 Cost | 2012 Cost | Inflation | 2016 Cost |
|---|---|---|---|---|---|
| 1 | Cataract | 16000 | 24000 | 50% | 36000 |
| 2 | Angiography | 14000 | 22000 | 57% | 34540 |
| 3 | Coronary Artery Pass Graft (CAiGB) | 165000 | 235000 | 42% | 333700 |
| 4 | Appendectomy | 28000 | 42000 | 50% | 63000 |
| 5 | Piles | 21000 | 35000 | 67% | 58450 |
| 6 | Gall Bladder Removal | 32000 | 52000 | 63% | 84760 |
| 7 | Prostate Surgery | 37000 | 62000 | 68% | 104160 |
| 8 | Angioplasty with 2 stents | 155000 | 245000 | 58% | 387100 |
According to a survey conducted average medical costs in a quality hospital and estimated costs in the future years.
| Estimated costs | ||||
|---|---|---|---|---|
| Health Ailments Approximate cost | in 2010 5 years - 2015 | 12% inflation 10 years- 2020 | 8% inflation 20 years- 2030 | 8% inflation |
| Coronary Artery Bypass | Graft 1,50,000- 4,00,000 | 2,64,000 - 7,05,000 | 3,24,000 - 8,64,000 | 6,99,000-18,65,000 |
| Angioplasty | 1,00,000- 3,00,000 | 1,76,200 - 5,28,000 | 216,000 - 6,48,000 | 4,66,000-13,98,000 |
| Cataract | 25,000-50,000 | 44,000 - 88,000 | 54,000 - 1,07,000 | 1,17,000-2,33,000 |
| Lithotripsy (Kidney stone removal) | 30,000- 50,000 | 53,000 - 88,000 | 65,000 - 1,08,000 | 1,40,000-2,33,000 |
It is important to add indirect cost to understand the complete expenditure incurred for a medical treatment. An approximate of 35 % of the total costs is incurred as indirect expenses. Most individuals over look indirect expenses like travel, boarding, and lodging and even temporary loss of income when planning for medical expenses.
Most urban individuals insure their houses, vehicles, child’s education and even their retirement plans but forget to insure their health which is of out most importance. It is important to remember that medical emergencies strike without a warning and have a great impact on our finances and eat into our assets and investments in the absence of a good health insurance in India. There are several types of health insurance Coverage policies that are available. You can buy the policy that best suits your requirement. It is suggested that you buy a policy of a maximum sum assured that you can pay.
Buying a health insurance policy is now possible at a MISS CALL ON +91 98 81 96 47 02. info@paragbopardikar.com