Although there are many health insurance companies in the country, many of them exhibit the character of Shylock when it comes to the services they provide to the common man. Especially, in the case of the elderly who are over sixty. It is not that they do not know that people need more protection as they age. However, with each passing year, they charge an unbearable premium amount to provide insurance coverage to this group. The practice of including parents as dependents in the insurance of children is widespread. Only a few companies allow people to join health insurance plans on their own after sixty. In short, insurance companies are the ones who exhibit the tendency to exclude the elderly from the mainstream the most, as in many others. This is because the risk of illness and disease increases with age.

The Insurance Regulatory Commission has ordered companies selling health insurance policies not to increase the annual premium for those above 60 by more than 10 percent. The order came into effect immediately. The commission has proposed that the companies can recover the revenue loss caused by this by increasing the premium proportionately from other categories of policyholders. The withdrawal of any insurance plans for senior citizens without the prior permission of the regulatory commission has also been banned. Companies were increasing the insurance premium for senior citizens without any control at all. With the imposition of restrictions, it is expected that there will be a significant reduction in the premium amount. The burden of the children paying the premium for the elderly will also be reduced.

The government and big companies also introduce insurance schemes for their employees and their dependents. The amount is deducted from the salary. There are also many complaints about the shortcomings of the MEDiSEP insurance scheme introduced for state government employees in Kerala. Many hospitals are opting out of the schemes. Many have had the experience of having to pay a deposit when the treatment is completed even though it is said to be cashless. Elderly people included in the insurance scheme also face other discriminations. The claim for treatment is often not approved as per the promise made when joining the scheme.

The company has set a limit on the cost of treatment for many fatal diseases. For example, it will be promised that a maximum of Rs 15 lakh will be paid as treatment costs. However, only one-third of that will be allowed for specific diseases. The intervention of the Regulatory Commission is essential to end such discriminatory approaches also. Health insurance schemes are intended to help the common man. The central government also has the responsibility to ensure that the elderly, who need these benefits the most, are provided with seamless services. The public demand to reduce the existing 18 percent GST on insurance schemes has not yet been considered by the GST Council.