By – Sapna Desai, CMO, Manipal Cigna Health Insurance
We’ve all heard the phrases “Health is Wealth” and “Health is Happiness,” but few truly believe them until they personally face a health scare. What’s worse is when people must struggle to undergo expensive treatments that disrupt life and add a heavy financial burden. Let’s discuss how people can break the financial barriers to accessing cancer diagnostics, surgery, chemotherapy, and supportive care.
Cancer Treatment in India
We are all aware that cancer treatment in India is exorbitantly expensive. On average, a cancer patient can incur costs ranging from INR 5 lakh to over INR 20 lakh, depending on the type of cancer, stage at diagnosis, and choice of treatment centre. These expenses include immediate treatment costs as well as regular follow-ups, post-treatment care, and sometimes travel and accommodation for specialized care.
Treatment costs have also risen with the rise in medical inflation. These escalating expenses can deplete savings, especially for families or individuals from low – and middle-income strata. This can lead to debt and long-term financial instability.
The financial stress caused by cancer treatment extends beyond immediate expenses. Many families are forced to borrow money and sell assets to afford care. This economic strain creates a vicious cycle where treatment costs become a lifelong financial burden. Despite government initiatives to support healthcare, there remains a gap in coverage for critical illnesses, particularly cancer, which leaves a significant portion of the population financially vulnerable.
How Comprehensive Health Insurance Can Help
For individuals facing the possibility of high healthcare costs, a comprehensive health insurance plan is a powerful tool to protect themselves and their families from the financial shock of a cancer diagnosis. A robust plan covers hospitalization, diagnostics, and treatment costs for critical illnesses, enabling families to access quality care without exhausting their savings. Such plans offer peace of mind, ensuring that finances will not limit access to essential treatment in times of crisis.
Thankfully, health insurance plans specifically tailored to India’s missing middle directly address these challenges. The missing middle population is affected by the financial strain caused by hospitalization for 4 major illnesses like heart diseases, stroke, major organ/bone transplant, and cancer. The comprehensive plans available in the market address the immediate and long-term financial needs of those who may not have access to high-end insurance products. With coverage extending to hospitalization, such plans ensure that treatment can proceed without financial stress, helping individuals and families focus on recovery and stay financially secured.
Accessible and Affordable Cancer Care
Health Insurance plans designed to meet the unique needs of India’s underinsured population pave the way for accessible, affordable, and inclusive health coverage. Having access to a tailored health insurance plan ensures that quality treatment remains within reach.
It is essential to recognize the importance of comprehensive insurance plans that cover critical illnesses and to consider how these offerings can be expanded and adapted to bridge financial gaps in healthcare. The road to accessible cancer care is long, but through innovative products which provide essential coverage for 4 major illnesses including Cancer with personalised plan that can be modified as per medical needs, we can work toward a future where India has access to affordable financing options when it comes to health and health care.