Budget 2024: Anticipated 50% Surge in Insurance Cover Under 'Ayushman Bharat' Scheme

As the union government gears up to present the interim budget on February 01, significant expectations surround potential announcements, especially in the realm of public welfare. Speculations are rife that Finance Minister Nirmala Sitharaman might unveil notable changes, with a particular focus on enhancing the Ayushman Bharat Scheme.

Expected Increase in Insurance Coverage:

Recent reports suggest that the government is contemplating a substantial increase in the insurance coverage provided by the Ayushman Bharat Scheme. The proposed enhancement hints at a potential surge of 50%, elevating the existing cover amount to 7.5 lakhs. While this development has garnered attention, there is yet to be an official confirmation from the government.

Ayushman Bharat Scheme Overview:

Launched on September 23, 2018, under the National Health Policy 2017, the Ayushman Bharat Scheme stands as the world's largest health insurance initiative. Presently, Ayushman cards have been distributed to 25.21 crore individuals, and this figure is anticipated to surpass 30 crores in the near future.

Since its launch in 2018, the Ayushman Bharat Scheme, also known as Pradhan Mantri Jan Arogya Yojana (PMJAY), has become a shining example of India's commitment to universal healthcare. Let's delve deeper into this ambitious initiative with the latest facts and figures:

Reaching New Heights:

• Beneficiaries: As of October 27, 2023, a staggering 28.14 crore individuals have received Ayushman cards, exceeding the initial target of 25 crores. This translates to coverage for over 112 crore beneficiaries, approximately 40% of India's population.
• Hospital Network: The scheme boasts a vast network of over 18,000 empanelled hospitals across the country, ensuring widespread access to healthcare services for beneficiaries.
• Financial Impact: Ayushman Bharat has empowered families by disbursing a whopping Rs. 33,214 crore in claims since its inception, significantly reducing the financial burden of healthcare for millions.

Beyond Numbers:

• Preventive Healthcare: The scheme goes beyond hospital care, incorporating 1,50,000 Health and Wellness Centres (HWCs) nationwide. These HWCs offer comprehensive primary care services, including preventive health screenings, early disease detection, and management of chronic conditions.
• Digital Innovation: Ayushman Bharat leverages technology through the Ayushman Bharat Digital Mission (ABDM). This initiative aims to create a unified digital health infrastructure, facilitating seamless data exchange between healthcare providers and improving patient care coordination.
• Challenges and Future Goals: Despite its remarkable progress, the scheme faces challenges like ensuring quality service delivery across all empanelled hospitals, addressing capacity constraints in rural areas, and further strengthening its IT infrastructure.

A Beacon of Hope:

Ayushman Bharat continues to transform India's healthcare landscape, bringing essential medical services within reach of millions. From expanding coverage to embracing preventive care and digital solutions, the scheme is actively shaping a healthier future for India.

Existing Health Coverage Under the Ayushman Bharat scheme:

Under the Ayushman Bharat scheme, impoverished and marginalized families benefit from an annual health insurance cover of 5 lakhs. Notably, the scheme has garnered widespread participation, with 5.68 crore hospitals enlisted to provide medical services under its umbrella.

Finance Minister's Stance:

Despite Finance Minister Nirmala Sitharaman's prior statement dismissing populist announcements in the budget, there remains anticipation for significant unveilings in the interim budget ahead of the 2024 general election.

Implications for Ayushman Bharat Beneficiaries:

If the speculated increase in insurance coverage is formally announced, beneficiaries under the Ayushman Bharat Scheme would witness a substantial boost in financial protection against healthcare expenses, contributing to the government's commitment to bolstering healthcare accessibility.

SBI Green Rupee Term Deposit Bonus:

In a related financial development, the State Bank of India (SBI) has introduced a specialized FD scheme named "SBI Green Rupee Term Deposit." This scheme comes with unique interest rates and maturity periods.