Government of India plans to launch new Health Insurance Scheme to aid families below poverty line (BPL) in India. The name of the scheme is yet to be disclosed, however, the premium will be as low as Rs. Rs.1,000 for the coverage of Rs. 50,000. The cover will be offered to the entire family, maximum 5 members can be covered under one policy and as such there will be no need to buy a separate health cover. It would be a cashless scheme, with a waiting period of 2 years for pre-existing conditions.
The new Health Insurance Scheme will be over and above the existing Rashtriya Swasthya Bima Yojana (RSBY) scheme which is for people below poverty line. The policy can be sold by any insurer, general or health. The government has already sent the proposal to the insurance companies. Moreover, banks are not the part of the new health scheme, unlike the other government schemes under Pradhan Mantri Jan Suraksha scheme, where insurers have been instructed to tie-up with banks for policy sales and claim payment.
Pradhan Mantri schemes has been a real masterstroke from the government of India as far as financial presence and insurance penetration in the country goes. Government is now taking the step to provide additional health insurance cover to the underprivileged segment of the society.
