Rs 1L coverage for Rs 10k: Dr Devi Shetty’s Narayana Health launches Aditi health plan

Dr Devi Shetty’s Narayana Health has introduced its first health insurance product, Aditi, the first of three such schemes planned by the group.

Aditi is the basic, entry-level plan, and its premium is set at Rs 10,000 a year. It will cover a family of four, where the eldest is 45 years old.

Bridging the gap

While launching the product on Monday (July 1), Dr Shetty hoped that in the near future, India will usher in a strategic shift where quality health care will not only mean strengthening infrastructure and access to malaria, TB and HIV but also surgical procedures.

The chairman of Narayana Health said India needs 70 million surgeries, but only 20 million are performed, as people do not have the means to undergo even bellwether procedures (caesarean delivery, laparotomy, and treatment of open fracture).

Pilot project

Aditi is the group’s initiative to bridge this gap. It is being introduced as a pilot project in Mysuru, Mandya, and Chamraj Nagar, and is expected to be launched in Bengaluru in a couple of weeks.

“We are going to see how this pans out, before taking it across India. Aditi is the basic, entry level plan, the first of the three plans we will introduce soon. Aditi’s premium is set at Rs 10,000 a year and will cover a family of four where the eldest is 45 years old,” said Viren Prasad Shetty, vice-chairman of Narayana Hrudayalaya Ltd.

Pocket pinch

According to Ravi Viswanath, director of Narayana Health Insurance Ltd, the premium will vary if there are existing co-morbidities and if the patients are older.

“The insured are covered to the extent of Rs 5 lakh in treatment and Rs 1 crore in surgeries. Traditional insurance companies charge anywhere between Rs 20,000 and Rs 48,000 for the same,” added Viswanath.

The idea is to offer health insurance to everybody, added Dr Shetty. “We are not going to say no to anyone who wants insurance, irrespective of their medical conditions,” he said.

How Aditi will work

Aditi will initially be restricted to only Narayana Health when it comes to elective procedures, but the insured can avail themselves of it anywhere for emergency treatment, said Viren Prasad.

“Unlike traditional plans, Aditi prioritises a smooth and efficient experience, so the coverage is primarily within the trusted Narayana Health network, where experienced doctors and advanced facilities wait. This minimises administrative hurdles. In other countries, what we offer is called managed care rather than insurance,” he added.

(With agency inputs)