Skip to main content

Why Health Insurance is Mandatory

 
Buy Health Insurance Policy Online



Let's face facts --- medical treatment is expensive! Not only are medical costs high, inflation is also rising. There is already huge financial pressure on citizens and a trip to the hospital is only going to make their financial problems worse. To save us from extra financial burden we should have health insurance. And just like car insurance, health insurance should be made mandatory by the government.


So let's examine the reasons why people must have health insurance.


The Benefits:

Financial security:

The most important reason for mandatory health insurance is to reduce the pinch in one's pocket should you or a loved one need to be hospitalised. When a person has health insurance, she doesn't have to worry about having enough cash for her treatment. The insurance policy will reimburse her and thus save her from financial turmoil. The cashless facility also gives an added benefit of not needing to gather funds during a medical emergency. The patient and doctors can concentrate on the treatment and not worry about money.


Good Healthcare:

Everyday new breakthroughs and advancements are made in science. The latest equipment makes medical procedures more reliable and safer. Investing in new technology costs the hospital money and it can increase rates. If one has health insurance, you would be protected from these rising costs and can afford the necessary treatment. Therefore, health insurance gives you access to the best healthcare available at any given time.


But before the government makes such a rule, there are many hurdles to cross. Let's take a look at some of them.


Existing Problems:

Poor infrastructure:

For people in villages, the first and biggest burden in a medical emergency is reaching good hospitals in time. If there aren't even roads to take you to a hospital, no amount of health insurance can save you.


Unaffordable Premiums:

With shrinking wages and rising inflation most people cannot afford to buy health insurance. Not just that, once you have made a claim or are diagnosed with some illness your premiums increase. The increasing cost of premiums is only going to add to your financial woes.


Insurance coverage:

With exclusions and restrictions to what illnesses are covered in your health plan, one needs to be extremely careful about what insurance they are getting. You may have health insurance, but it may not cover you for any pre-existing illness and treatments that you may require.


Conclusion:

If the government makes health insurance mandatory, it should be made affordable for everyone. The government should also provide schemes for people who cannot afford insurance. To share the costs in such an enterprise, employers could be given incentives to insure their employees. Insurance companies and hospitals should work together on cutting costs and providing universal healthcare. There should be minimum basic coverage, regardless of any pre-existing conditions so that every citizen is covered. If every person is insured, regardless of their financial condition, they will be given the proper medical treatment they deserve. Health insurance will protect a person from additional financial burden. Health insurance should be mandatory so that the common man can avail medical treatment at good facilities.

 



------------------------------------------
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact Prajna Capital on 94 8300 8300

--------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Call us on 94 8300 8300

---------------------------------------------

 

Popular posts from this blog

Mutual Fund Review: Religare Tax Plan

Tax Plan is one of the better performing schemes from Religare Asset Management. Existing investors can redeem their investment after three years. But given the scheme's performance, they can continue to stay invested   Given the mandated lock-in period of three years, tax saving schemes give the fund manager the leeway to invest in ideas that may take time to nurture. Religare Tax Plan's investment ideas revolve around 'High Growth', which the fund manager has aimed to achieve by digging out promising stories/businesses in the mid-cap segment. Within the space, consumer staples has been the centre of attention for the last couple of years and can be seen as one of the key reasons for the scheme's outperformance as compared to the broader market. It has, however, tweaked its focus and reduced exposure in midcaps as they were commanding a high premium. The strategy seems to have worked as it returned a 22% gain last year. Religare Tax Plan has outperformed BSE 100...

ICICI Prudential Balanced Fund

 ICICI Prudential Balanced Fund scheme seeks to generate long-term capital appreciation and current income by investing in a portfolio that is investing in equities and related securities as well as fixed income and money market securities. The approximate allocation to equity would be in the range of 60-80 per cent with a minimum of 51 per cent, and the approximate debt allocation is 40-49 per cent, with a minimum of 20 per cent. An impressive show in the last couple of years has propelled this fund from a three-star to a four-star rating. The fund has traditionally featured a high equity allocation, hovering at well over 70 per cent, which is higher than the allocations of the peers. But in the last one year, the allocation has been moderated from 78-79 per cent levels to 66-67 per cent of the portfolio. ICICI Prudential Balanced Fund appears to practise some degree of tactical allocation based on market valuations. Within equities, well over two-thirds of the allocation is parked i...

Mutual Funds: Past Performance is not just everything

Many a times your agent / distributor / relationship manager tries to push you some mutual fund schemes by enticing you with a typical sales pitch…"Sir, this scheme has generated 20% returns in the past one year." And this sales pitch often gets louder when the market conditions have been favourable. Some of the agents / distributors / relationship managers have another unique way of luring you. They say, "Sir / madam this scheme has been awarded the best scheme award in the past by a leading business channel"... And hearing all these sales talks you investors very often get attracted and sign a cheque in favour of the respective scheme.   But please ask yourself do you hear these sales talks when the capital markets turn turbulent? Why is it so that your agent / distributor / relationship manager avoids talking to you during turbulent times of the capital markets and doesn't boast about returns generated by the respective funds or awards being conferred on t...

All about "Derivatives"

What are derivatives? Derivatives are financial instruments, which as the name suggests, derive their value from another asset — called the underlying. What are the typical underlying assets? Any asset, whose price is dynamic, probably has a derivative contract today. The most popular ones being stocks, indices, precious metals, commodities, agro products, currencies, etc. Why were they invented? In an increasingly dynamic world, prices of virtually all assets keep changing, thereby exposing participants to price risks. Hence, derivatives were invented to negate these price fluctuations. For example, a wheat farmer expects to sell his crop at the current price of Rs 10/kg and make profits of Rs 2/kg. But, by the time his crop is ready, the price of wheat may have gone down to Rs 5/kg, making him sell his crop at a loss of Rs 3/kg. In order to avoid this, he may enter into a forward contract, agreeing to sell wheat at Rs 10/ kg, right at the outset. So, even if the price of wheat falls ...

PF e-Passbook

  Provident Fund e-Passbook   The Employees Provident Fund Organisation now runs an e-passbook service that enables members to log in and access their provident fund accounts . This facility enables tracking of the money and ensuring that the employer's contribution has been deposited into the account. This facility is available to those whose accounts are with the central provident fund commissioner for maintenance and can be availed at members.epfoservices.in . Registration A member can register at the portal easily by using PAN , Aadhar or passport number as the log in and the mobile numbers as the PIN . This combination enables easy retrieval of information. Accounts After logging in, the member has to choose the state where the employer is located, and enter the code number of the employer, account number and name. These details can be obtained from any existing PF document . PIN To download the passbook, the member will request...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now