Critical Analysis of Health Insurance Portabililty in India

Abstract

The Insurance Regulatory and Development Authority (IRDA) introduced health insurance portability with a view that the facility will serve its customers better, bringing about a revolutionary change in the health insurance sector through better product plans and improved competition. However, not many transactions have been seen. What could be the reason for the same? Should the sector and the regulator be blamed for the poor numbers benefiting from the scheme or should the implementation be made simpler and standardized? Present research is conducted by using both primary as well as secondary data. Also, an analysis of the mobile number portability was done. It was found that lack of awareness was a major reason for the less number of insurance switchovers. These bottlenecks need to be addressed so that the actual aim of serving the customer needs can be met through the implementation of this scheme.