The Cost of Care: How Rising Healthcare Costs Are Forcing Tough Choices

As medical expenses skyrocket, numerous policyholders are taking loans to keep their health insurance active. With premiums increasing by as much as 30% for some, financial pressure is building. Insurance premium financing has become a big hit, with policyholders taking loans at interest rates of 8-12% to pay premiums. This indicates the increasing affordability gap in healthcare, where out-of-pocket costs are high and insurance penetration is low. In spite of these disadvantages, funding avenues are opening up, keeping people covered for necessary care.

 

Source: Business Standard, Moneycontrol