February 11, 2014
Medical insurance companies are reporting more claims by cancer patients, indicating a rise in the incidence of the disease. Every year, at least one million new cases of cancer are detected in India and 600,000 die of it.
On the bright side, analysis of claim reimbursement data shows that the number of patients fighting cancer—and surviving it—is increasing, say medical and insurance experts. On the other hand, though cancer is mainly considered a disease of the elderly, almost half of the claims are from younger patients. Persons between 46 and 55 comprised almost a quarter of all claims from a private insurer, while almost one in five reimbursement demands came from those between 36 and 45, reported The Economic Times.
Data collated by the insurance regulator, Insurance Regulatory and Development Authority, show average claims paid for cancer treatment are the fourth highest among all ailments. In 2011-12, the latest year for which entire industry data are available, 47,182 claims for cancer treatment amounting to INR1.63 billion (US$26.2 million) were settled. Last year’s claims would be a multiple of this number, said industry officials.
Insurance experts say the growth in claims for cancer indicates that better and earlier diagnosis is leading to more patients seeking early treatment and, hence, better recovery rates. They also say that rising cancer rates have prompted people to purchase more health insurance policies with higher sums insured.