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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Comparing UHC models across countries
Countries like the UK and Canada offer robust UHC models through public-funded healthcare systems.
In the UK, the National Health Service (NHS) provides free access to essential medical services, funded by general taxation.
Similarly, Canada’s Medicare ensures healthcare access at no direct cost to patients, with expansions like the Pharmacare Act covering medications.
In contrast, India relies on a mix of public schemes like Ayushman Bharat and private insurance.
While public schemes address basic and emergency care, private insurance fills gaps by covering specialised treatments.
Despite these measures, India still faces challenges like inequitable access and high out-of-pocket expenses, highlighting the need for robust health insurance.
Health insurance: A shield against rising medical costs
With rising medical expenses driven by technological advancements, chronic diseases, and medical inflation, health insurance has become indispensable.
G. Srinivasan, MD & CEO of Galaxy Health Insurance, explained its importance, “Health insurance provides financial protection against high medical expenses, ensures access to preventive care, and reduces out-of-pocket costs through negotiated rates with healthcare providers. This predictability in expenses helps individuals budget better.”
It’s not just about financial security—health insurance brings peace of mind during medical emergencies, letting families focus on recovery instead of worrying about finances.
Bhabatosh Mishra, Head of Product Development and Claims at Niva Bupa, added:
“Health insurance not only mitigates the financial burden but also ensures access to the best healthcare available.”
Common mistakes in managing healthcare costs
Handling healthcare expenses can be challenging, with several financial pitfalls.
Srinivasan highlighted mistakes such as inadequate insurance coverage, ignoring preventive care, and delaying treatments due to cost concerns.
“Skipping regular check-ups or misunderstanding policy details can lead to unexpected expenses,” he noted.
Mishra added, “Many individuals underestimate medical inflation and buy insufficient coverage. As a result, families face financial strain when medical emergencies arise.”
To avoid these errors, experts recommend purchasing comprehensive health insurance, prioritising preventive care, and leveraging tax benefits under Section 80D of the Income Tax Act.
UHC’s role in enhancing financial stability
Globally, Universal Health Coverage aims to make healthcare accessible for all, especially for low- to middle-income households.
In India, the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (PM-JAY) has significantly reduced healthcare costs for vulnerable populations.
“PM-JAY has decreased out-of-pocket healthcare expenditures by 21% and emergency loans for medical expenses by 8%. Families now focus on well-being without financial stress,” said Srinivasan.
The program also covers up to ₹5 lakh per family annually for secondary and tertiary care, enhancing financial protection for households.
Mishra pointed out that UHC could be as transformative as mandatory motor insurance.
“A minimum basic health coverage for all, mandated by law, can significantly improve financial well-being,” he said.
How UHC complements private health insurance
UHC and private health insurance serve distinct but complementary roles in financial planning.
“UHC ensures basic healthcare for all, while private insurance offers customization and faster access to specialised treatments,” said Srinivasan.
Public-private partnerships also create opportunities for insurers to offer supplementary plans, enhancing overall coverage.
Mishra added, “Preventive healthcare under UHC reduces severe health issues, indirectly benefiting private insurers by lowering high-cost claims.”
