A study on consumer's understanding of health insurance benefits

Abstract

Background: India is way behind many developing countries such as China, Sri Lanka, and Vietnam in terms of some health indicators and health insurance utilization. Aim: The study aimed to evaluate: (1) the source of health insurance in India, (2) the awareness of health insurance in India, and (3) to measure the satisfaction level of investors on health insurance provider. Methodology: Primary data were collected through the questionnaire among 102 general population of Maharashtra. Results: Ninety-seven percent are aware of health insurance and also have a policy. About 47.1% have all the family members covered under the health insurance, whereas 8.5% said that only the head of the family is covered. About 79.4% of the consumers were satisfied with the service provided by their health insurance provider. In the private sector, Apollo Munich and ICICI Lombard are among the ones which were preferred by the people. Sources of awareness of health insurance include employer, the Internet, newspaper, friends, and television. Conclusion: It is concluded that there is a need to create awareness among people for health insurance. Health insurance investment should not look at contingency, but it must be a regular habit. Nearly 79.4% of consumers of our sample are satisfied with the current service provider of health insurance.