Standalone health insurance company is a solution which IRDA is contemplating for the spread of health insurance. But will it be able to deliver the required and expected results? Any insurance company can only provide financial resources at a cost. Problems surrounding healthcare services are more complex since different stakeholders can appreciate only their personal interests. Unless they develop an integrated perspective and take a long-term view of the issue involved, there will not be any satisfactory solution for this problem.

All the stakeholders in health insurance-the public and policyholders, insurance companies and IRDA hospitals and doctors and, above all, the government are not satisfied with the present state of affairs in the healthcare sector. Each one has got his/her own interests to protect and therefore looks at the issue from his/her own perspective.

As a result, there is so much unsatisfied need and demand for health insurance, which the insurance industry in its present position is unable to handle and the IRDA as the supervisory body is unable to fulfill the expectations of the government.

The central government has proposed various health insurance schemes like universal health insurance scheme with a subsidized premium. Earlier they proposed Jan Arogya Scheme with very low rates of premium before liberalization. This policy was sold to a certain extent but the policyholders found it difficult to utilize fully.

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