Star Health and Allied Insurance Company is introducing innovative health insurance packages for pain therapy. In the beginning of this year, the insurer had launched a policy for bariatric surgery, which is performed to reduce obesity.

“Around 12,000 bariatric surgeries took place in India in 2014-15 but most insurance companies do not offer insurance for such problems,” said S Prakash, Executive Director, Star Health and Allied Insurance Company.

The number of people undergoing such surgeries is likely to increase and hence, it is necessary for companies to cover such procedures, he added.

The company also plans to launch insurance for pain therapy in another two months.Therapies like anesthetising a particular nerve to stop pain would be covered in this scheme, Prakash said, adding that these have huge potential as many people undergo such treatments for relief. Almost 40 per cent of the 3.2 lakh medical claims the company received last year were for non-communicable diseases, such as diabetes and cancer. “Earlier, 70 per cent of our claims were for infections and fever but now chronic ailments are on the rise and insurance companies should come up with innovative packages that cater to the needs of the people,” Prakash said.

Healthcare insurance According to a study conducted by Star Health, currently only 3.5 per cent Indians have privately bought health cover. Unlike developed countries where most of the citizens are covered by insurance, 75 per cent of the medical costs incurred by Indians are borne by them.

While the health insurance sector in India grew at 15.6 per cent in 2014-15, Star Health logged 37 per cent growth.

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