What is Health Insurance? Benefits, Types & Coverage

Health insurance in Bangladesh is a topic of growing importance, as the country continues to develop and its population increases. The health system in Bangladesh is highly underdeveloped, with a lack of access to quality healthcare services and limited resources.

However, the government of Bangladesh has made efforts to improve its health system, including the introduction of health insurance schemes.

This article will discuss what health insurance is, its key benefits, the different types of coverage available, and how you can get insured to protect yourself and your loved ones. It will also explore various health insurance initiatives, schemes, and aggregators in Bangladesh, including Carnival Assure and micro-insurance schemes.

What is Health Insurance?

Health insurance is a type of insurance that covers medical costs incurred by an individual or family. It is designed to provide financial protection against the high cost of medical care services like hospitalization, doctor visits, diagnosis, etc., and can help to ensure access to quality healthcare services.

In Bangladesh, the term is new, but there are some reliable services including Carnival Assure.

Why Health Insurance in Bangladesh?

Health insurance in Bangladesh is important for a variety of reasons. It can help to increase access to quality healthcare services, while also improving the health outcomes of individuals in the country.

Additionally, health insurance can help to reduce the financial burden of medical expenses including hospitalization, doctor visits, diagnosis, etc., which is especially important in a country with high levels of poverty.

Finally, health insurance can also help to reduce disparities in access to healthcare services between the rich and the poor, as well as between urban and rural areas. All of these factors make health insurance an important consideration for the government of Bangladesh and its citizens.

Benefits of Health Insurance

• Increased access to quality healthcare services.
• Improved health outcomes.
• The reduced financial burden of medical expenses.
• Reduced disparities in access to healthcare services.
• Improved financial security.
• Improved access to preventive care.
• Increased access to specialist care.
• Improved ability to manage chronic illnesses.
• Improved access to mental health care.
• Improved access to emergency care.

Types of Health Insurance

There are a variety of health insurance schemes in Bangladesh.

Private health insurance is purchased by individuals or businesses and is typically more expensive. Apart from this, Carnival Assuare health insurance provides access to a wider range of affordable health insurance services with micro policies such as Assure Health (Bronze), Carnival Safety First, Assure 365, etc.

Micro-insurance schemes of Carnival Assure are designed to provide protection to low-income households. These schemes typically cover a range of health-related services, such as medical treatment, hospitalization, and preventive care. For example, Guardian Life Starter, and Carnival Solo (Silver). 

In addition to these health insurance schemes, there are also a variety of private health financing options available in Bangladesh, such as community-based health financing and social health insurance.

Who Needs Health Insurance?

Everyone in Bangladesh needs health insurance, as access to quality healthcare services is essential for a healthy population. Health insurance may assist in decreasing the cost of medical expenses while also offering access to a variety of healthcare services.

That is particularly necessary for individuals who need financial support in healthcare, as they are more likely to face significant financial hardship as a result of medical bills.

Additionally, health insurance is important for people with chronic illnesses, as it can help to ensure access to the treatment and medication they need.

How Do You Get Health Insurance?

Getting health insurance in Bangladesh is relatively easy. Carnival Assure health insurance is available to all citizens and can be applied online. You can purchase directly from the website, sitting at home, anywhere, or on the go.

Once a health insurance plan is selected, the policyholder will be required to pay a yearly premium to enjoy benefits for 12 months, which will vary depending on the type of insurance and the insurance company.

How Much does Health Insurance Cost?

The cost of health insurance in Bangladesh will vary depending on the type of insurance and the insurance company. It starts only from 350 Taka yearly from Carnival Assure, an insurance aggregator. You can get ideas from the Carnival Assure Health Insurance page.

How Health Insurance Works?

Health insurance is one of the most important considerations when it comes to managing your health and well-being. The health insurance industry is constantly changing, with new regulations and plans being introduced all the time. It can be difficult to keep up with the latest developments, so here is a brief overview of how health insurance works in Bangladesh.

In order to access health insurance, you will need to select a plan that is suitable for your needs. Once you have selected a plan, you will need to pay a yearly premium in order to receive coverage. The amount of the premium will depend on the type and level of coverage you choose. Additionally, you may be required to pay a deductible or co-payment in order to receive coverage.

Health insurance can be an important safety net for individuals and families, offering financial protection and access to quality healthcare services. It can be a difficult and confusing process, but with the right knowledge and advice, you can make sure that you are getting the coverage you need.

Health Insurance Company or Aggregator List in Bangladesh

1. Carnival Assure Health Insurance (an insurance aggregator)

2. MetLife Health Insurance

3. DeltaLife Health Insurance

4. Green Delta Health Insurance

5. Pragati Insurance Health Insurance

Conclusion

Health insurance is an important consideration for the government of Bangladesh and its citizens, as it can help to reduce the financial burden of medical expenses and provide access to quality healthcare services.

All of these schemes have their own benefits and costs, and it is important to carefully consider which one is best for an individual or family. With the right health insurance plan, the people of Bangladesh can access the healthcare services they need and improve their overall health and well-being.