Seeking relief. Rising health insurance premium leaves buyers sore
With premiums going through the roof, people are anxious over health insurance burning a hole in their pockets. Industry insiders and consumers businessline spoke to want the government to expedite the setting up of a health regulator or reduce the GST rate from current 18 per cent to curb the surging cost of health insurance.
According to Srinath Sridharan, an insurance customer, the rise in health premiums exceeds the average retail inflation rate by 3-4x.
“The sector’s foundation seemingly rests on a distrust of its customers, burdening policyholders with the onus of proof and claims efforts. This is evidenced by the persistently low claims ratio and payouts,” he said.
