Budget 2016 - Quote from Future Generali
India Insurance Co.
Basis the announcement made by our Finance Minister Mr.
Arun Jaitley, Mr. Krishnamoorthy Rao, MD
& CEO, Future Generali India Insurance has shared his views on the
announcement.
“This year’s
budget announcements are reflective of the Government’s intent to move towards
a better economic growth and to restore confidence in India Inc. It has laid
out a clear roadmap to promote affordable healthcare in India, especially
targeted towards the poor and marginal section of the society.
 |
| Mr. Krishnamoorthy Rao, MD & CEO, Future Generali India Insurance |
The existing RSBY scheme which has a limit of Rs. 30,000
would be replaced by the new health scheme announced by the Government where
the hospitalisation sum insured is increased to Rs. 1 lac with an additional
top up package of Rs. 30,000 for Senior Citizens. With this, the number of
ailments/procedures where complete cost of treatments can be covered would increase
than in the existing scheme. This would also increase the number of quality
hospitals within the network of this scheme with more number of hospitals
getting empanelled. For the BPL families, this scheme would definitely reduce
the financial burden of catastrophic Health care costs. We anticipate that this
scheme would run on the existing RSBY platform and with use of technology, this
would be very effective. There would be revised ailment / procedure wise
package charges with the network hospitals. As there is a substantial quantum
of jump in the sum insured, the overall cost of premiums which the governments,
both central and state, share is also expected to go up.
Setting up 3,000 pharmacies under the government’s Jan Aushadhi
Yojana is aimed towards better and easier availability of generic drugs through
which the overall health care cost would be pushed downwards. This would be a
boon to the lower as well as middle income groups especially for patients
suffering from chronic illnesses.
Public Private Partnership model in healthcare got a
major boost with the launch of a national dialysis
service under the National Health Mission to provide dialysis services at
district level hospitals. This is a welcome move which would be beneficial to
people living with Chronic Renal Failure. Sometimes, the cost of dialysis in
private hospitals becomes unaffordable and such facilities are being offered
only in major towns and cities. By making Dialysis available at all district
hospitals, the treatment cost would come down substantially as the patients
will not be required to travel distances to avail this treatment.
Additionally, service tax exemption on premiums of
schemes under Nirmaya scheme will reduce the cost of this scheme and will
encourage more people to enrol to this. The scheme and subsequent exemption
will in turn make people with special needs as much financially independent as
possible."
For media contact
Udaya Kumar
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