In Budget 2022, the government accepted this demand, then the premium would be reduced and health insurance would be cheaper.
Amidst the Corona transition, there are high hopes from the industry to the common people from the Budget 2022 to be presented next month. In view of the difficult situations, the government can also give many reliefs in this budget.
Meanwhile, in view of the ever-increasing cases of Kovid-19, insurance companies have urged the government to reduce the GST on it, emphasizing on increasing the reach of health insurance. is of.
In the suggestion given to the government for the budget, insurance companies say that there is a period of uncertainty regarding health at this time. Treatment is getting increasingly expensive.
Retail inflation has reached around the upper limit of 6 percent of the Reserve Bank of India (RBI). In such a situation, in order to increase the scope of health insurance to more and more people, it is necessary to make the premium cheaper.
Need to reduce GST to 5 percent
Bajaj Allianz General Insurance CEO and MD Tapan Singhal says that premium is more important than coverage in people’s decision to buy health insurance. Due to the cost, people postpone the decision of buying health insurance.
In such a situation, the government should consider reducing the GST on it from 18 percent to 5 percent in order to make its premium cheaper in this budget. This will not only increase the inclination of people to buy health insurance, but they will also get the facility of more coverage at a lower premium.
