Care Health Insurance highlights Inadequate Health Coverage as a Growing Household Financial Risk

News Desk, News Nation 360: Emphasising that a catastrophic illness can drain a family's hard-earned savings in today's inflationary environment, Care Health Insurance has advised Indian families to re-evaluate their health insurance plans. Despite rising insurance penetration, many Indian households are highly vulnerable to being unable to cope with potentially crippling out-of-pocket medical expenses (OOPE), which continue to fund 43.4% of India's total health expenditure, as per the National Health Accounts 2023 released by the Union Health Ministry and reiterated in the National Sample Survey Organisation's (NSO) 2025 Household Consumption Expenditure Survey. A simple ₹2-5 lakh entry-level floater or corporate cover cannot meet the costs of a liver transplantation worth ₹18-35 lakh or expensive chemotherapy or surgeries. The insurer advised people to move from questioning "Do I have insurance?" to "Do I have enough?" and suggested that people should conduct an annual review of their sum-insured and assess the fine print, such as room rent capping and sub-limits, and buy an individual policy, instead of relying only on the corporate cover provided by employers. People could also look at super top-up policies as an affordable way to create a robust health protection umbrella. They should take up specific policies to cover elderly parents who may need more expensive care.

Pic: Courtesy