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Post Budget Quote 2018 – Sandeep Patel, MD & CEO, Cigna TTK Health Insurance

  • The focus on health and wellness of its citizen indicates that the Government is driving a robust health and well-being ecosystem.
  • Deduction under Section 80D – that includes amount paid towards health insurance premium for covering senior citizens (60 years & above) has been increased from existing limit of INR 30,000 to INR 50,000: It is a positive step and would help increase penetration of health insurance in India. It would have positive impact on the health insurance companies. However existing limit of INR 20,000 for citizens below 60 years has not been revised, which if done would have further helped citizens, as India has a large young population within 60 years age.
  • The health and wellness centers should be well leveraged. It is a great opportunity for the government to educate people about health, sanitation, hygiene and so on.
  • The step to provide universal healthcare of an unprecedented amount of Rs 5 lakh medical insurance cover per year for 10 crore families across the country means that more people will now have access to health insurance who have affordability issues. This will also help in creating the awareness for the importance of health insurance and will positively impact private health insurance players in India.
  • Increase in medical colleges is a positive step forward to meet the growing healthcare demand in India.
  • Tuberculosis, a major health risk has been tacked head-on with the Government taking concrete steps to help people with TB with free drugs and Rs. 500 per month.

Sandeep Patel, MD & CEO, Cigna TTK Health Insurance

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