Protect Yourself From Financial Burden & Uncertainty ✓ Learn About The Drawbacks Of Lacking Sufficient Healthcare Coverage & Find The Right Solution For Your Better Future.
Health insurance is a crucial tool for financial protection against medical expenses. However, many choose not to get health insurance or ignore its importance. According to a report by Forbes Advisor India, about 400 million individuals in India have zero access to health insurance. Even among those with some form of health insurance, only 37% of the people are covered under health insurance schemes. This means that a majority of Indians are vulnerable to the high costs of medical treatments and hospitalization, which can lead to financial distress and impoverishment.
In this article, we will discuss some of the major drawbacks of not having adequate healthcare coverage in India.
- Out-of-pocket expenses: Out-of-pocket expenses refer to the amount a person has to pay from their pocket for healthcare services without any reimbursement from the insurance company or the government. According to a report, out-of-pocket expenses account for 62.6% of the total health expenditure in India. This is one of the highest rates in the world and indicates that most Indians have to bear the burden of healthcare costs on their own.
Out-of-pocket expenses include consultation fees, diagnostic tests, medicines, surgeries, hospital charges, etc. These expenses can be very high, especially for chronic or critical illnesses, and can deplete a person’s savings and assets. Out-of-pocket expenses can also push a person into poverty or debt, as they may have to take loans or sell assets to pay for medical care.
- Lack of access to quality care: Not having adequate healthcare coverage can also limit a person’s access to quality care, as they may have to compromise on the choice of hospital, doctor, or treatment. However, if a person does not have health insurance, they may not be able to avail themselves of cashless treatment at some of the best hospitals in India. They may have to opt for lower-quality or substandard care at other facilities. This can affect the quality & outcome of the treatment and may lead to complications or infections.
- Delay in seeking treatment: Another drawback of not having adequate healthcare cover is that it can cause a delay in seeking treatment, as a person may postpone or avoid visiting a doctor or a hospital due to financial constraints. This can have serious outcomes for the person’s health, as some diseases may worsen or become irreversible if not treated on time. This reduces the chances of survival and increases the cost of treatment. If a person had health insurance, they could have sought early diagnosis and treatment, improving their chances of recovery.
- Loss of income: Not having adequate healthcare coverage can also result in loss of income for a person and their family, as they may have to take leave from work or quit the job due to illness or injury. This can affect the person’s livelihood and standard of living, as well as their ability to pay for household expenses and other obligations. Moreover, if the person is the sole breadwinner of the family, their absence can have a devastating impact on the family’s financial security and well-being.
- Mental stress: Lastly, not having adequate healthcare coverage can cause mental stress and anxiety for a person and their family, as they may have to worry about how to cope with the medical bills and other expenses. Mental stress can affect a person’s physical and emotional health, as well as their productivity & performance at work. Mental stress can also lead to depression, insomnia, hypertension, heart problems, etc.
How CarePal Secure Can Help You Overcome These Drawbacks?
As you can see, not having adequate healthcare coverage can have many drawbacks for your health, finances and quality of life. Fortunately, there is a solution that can help you overcome these drawbacks and protect yourself and your loved ones. CarePal Secure offers affordable and comprehensive healthcare plans for individuals and families. With CarePal Secure, you can enjoy the following benefits:
– Access to a network of trusted and qualified healthcare providers across the country
– Coverage for preventive, primary, specialty, and emergency care
– Low monthly premiums and deductibles
– Flexible payment options and discounts
– Online tools & resources to manage your health & wellness
– 24/7 customer support and assistance
With CarePal Secure, you can get quality healthcare services at affordable prices. CarePal Secure is the smart choice for your health and well-being.
Don’t let the drawbacks of not having health insurance affect your health and finances. Get the CarePal Secure plan today and secure your future. You deserve the best healthcare possible, and CarePal Secure can help you achieve that.
