Health Insurance Claim: Treatment is becoming expensive, health insurance claims have increased by 30 percent

Health Insurance Claim: In the case of health insurance, people have started making more claims than before. Especially after Corona, it has increased by 30 percent in the last three years.

Health Insurance Claim: In today’s fast-paced life, people’s daily routine is changing rapidly. People are falling sick more often than before. There are queues of patients in hospitals. The cost of treatment has also started increasing and its claims have also started increasing. Data from Policybazaar operated by PB Fintech shows that the average claim payout of health insurance has increased by 30 percent in the last three years.

Treatment became expensive after COVID

A Gurugram-based health insurance company claims to settle 15,000-20,000 claims annually and the average claim amount in FY25 was Rs 81,000. Data showed that Tamil Nadu had the highest claim of Rs 1.13 lakh.

Siddharth Singhal, Head of Health Insurance at Policybazaar, said, “The cost of treatment has increased significantly post-Covid, which is responsible for the rising inflation in the medical sector. Also, customers are opting for add-on covers to include the cost of consumable coverage in their health insurance, which is increasing the claim amount.”

Treatment became expensive after COVID

Youth are making more claims

It was observed that the number of claimants has increased from an average of 4.9 to 6.4 in the financial year 2023. It is believed that people have started becoming very aware about health insurance. In today’s time, people have to be hospitalized several times a year even for seasonal diseases like dengue.

It has been observed that most of the claims, about 38%, are being made by young people in the age group of 18-35 years. Insurance companies keep an eye on these figures because the amount spent on claims is a large part of their cost. In such a situation, it is being considered to design the policy in such a way that customers can be asked to pay more for different categories and coverage.

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