Abstract
: The health insurance sector has grown at a double digit growth rate in India in the past decade. The Government schemes for the individuals' insurance coverage from the low-income group have resulted in higher penetration. Raise in the disposable income of the middle income and awareness of health insurance has led to self-subscription by private individuals. An increase in insurance penetration has also led to an increment in the claims for the insurer. However, the insurance coverage has been actively subscribed by the population in the age group of 19-64 years. The average claim amount processed is higher in infants and aged people. Days of hospitalization for the insured treatment help the insurers derive the claims' amounts and hence can budget the reserves accordingly. Days of hospitalization is found to have a strong positive relationship with age. Logistic regression of Half-yearly bins data has the predictability of Days of hospitalization of claimants at 69%.
Highlights
The united health insurance covered State-owned employees in India for a long time
This study explores to understand the relation between the number of days of hospitalization, age, and the claimed amount
The increment in the middle-income group's disposable income and rapid expansion of private health infrastructure has led to the health insurance subscriptions increment
Summary
The united health insurance covered State-owned employees in India for a long time. Overburdened government hospitals in terms of treatment and lack of human resources and equipment have led the government to support the common man for alternative treatments. Post-2000, the Rapid growth of the service sector driven by private firms, has enabled the private employees to be covered by group health schemes. Both the state and central governments have increased efforts to provide health insurance coverage to low-income groups with insurers as partners. Focus on quality treatment has made high and middle-income groups to access the private medical infrastructure. This rapid increment in the health insurance subscription has led to the increment in the claims by subscribers. Insurance coverage has provided access to medical infrastructure to common people and has burdened insurers with huge claim amounts. The study would help the insurer rightly underwrite a policy and calculate the premium
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