By Admin 
- Health insurance premiums can be 10-15% costlier.
- The increase will be implemented gradually on renewal.
- The main reason is the increase in medical expenses.
- Pressure on companies increased, expenses have to be balanced.
Health Insurance Cost Rise: Taking health insurance may become a bit expensive in the future. This news is going to raise some concerns for those taking health insurance policies.
Industry experts say that in the next 12 to 18 months, an increase of about 10 to 15 percent may be seen in the premium. Companies will not make this increase all at once, but will be implemented gradually at the time of policy renewal. So that its pressure does not come on people all at once.
Premium will increase in this way
According to a report published in India, this increase will not be the same for everyone. Premiums can be decided based on factors like age, city of the customer, sum insured and claim history. People living in big cities and senior citizens may have to face the biggest impact of this change.
What is the reason behind this?
1. The biggest reason behind health insurance becoming expensive is the continuous increase in medical expenses. Healthcare costs in the country are increasing at the rate of about 14–15 percent every year. This is much higher than general inflation. In such a situation, getting treatment is becoming more expensive than before.
2. Secondly, increase in hospital fees, expensive tests and increased claims after Covid have also put pressure on insurance companies. For this reason, companies can increase the premium rate to balance their expenses.
Important advice for customers
1. Keep renewing the policy on time, so that the cover continues without interruption.
2. Choose adequate cover as per requirement, taking too little cover may cause problems later.
3. Avoid closing the policy, otherwise you may have to spend more out of pocket in case of medical emergency.
Even before, companies have increased the premium
If we talk about the figures for the financial year 2023 to 2025, the individual health policy premium has become costlier by about 23 percent. Besides, the family floater plan has also become quite expensive. While in the year 2021 it was around Rs 15 thousand, in the year 2025 it has reached the figure of around Rs 22 thousand. That means there has been a direct increase of about 46 percent.
https://www.youtube.com/watch?v=LiQ1B2UYIi
Also read:
Your bank balance is not low! Banks recovered Rs 19 thousand crores in the name of penalty in 3 years, who is on top?