Health premium growth jumps, but coverage lags

Despite a 22% growth in health insurance premium numbers, insurance penetration in India remains sluggish. The number of lives covered under individual health insurance policies has grown by 2.5% to 528.9 lakh in March 2023, lower than March 2021 levels. Overall, the number of lives covered under health insurance, including group business, has increased by 5.7% in FY23. However, government scheme coverage has declined to 29.8 crore in FY23. The affordability of health insurance remains an issue, leading to older people dropping out due to higher rates.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lNUWMcj