A STUDY OF AWARENESS OF HEALTH INSURANCE IN NON-TEACHING STAFF IN COLLEGES OF MAHARASTRA STATE [OTHER THAN MUMBAI]

A STUDY OF AWARENESS OF HEALTH INSURANCE IN NON-TEACHING STAFF IN COLLEGES OF MAHARASTRA STATE [OTHER THAN MUMBAI]

Mrs. Rohini Anant Bodas

¹

, Prof.Dr. Shilpa Kiran Bendale

²

1Assistant Professor, KCES’s Institute of Management And Research, Jalgaon North Maharashtra University, Jalgaon. (India)

2Head, Dept Of Management, KCESs COEIT, Jalgaon North Maharashtra University, Jalgaon, M.S., India

ABSTRACT

Education Industry mainly runs with 2 sectors i.e. teaching and non teaching staff. Teachers are form to aware and expand the knowledge level of students where as non teaching staff work on completing formalities and procedure of candidate’s eligibility.

Basically non teaching staff consist of 3 categories: 1) Office Superintendent 2) Clerical Staff and 3) Peon;

Researcher consider non teaching staff of only Management Institute, Senior College:- Engineering , Commerce; Arts; Science college ( excluding Medical College) to study awareness of Health Insurance.

It is good to have insurance against some of the bigger problems your business could face to avoid total disaster if they arise. A promise of compensation for specific potential future losses in exchange for a periodic payment.

Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event.

'Health Insurance' A type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly.

It is necessary to focus on non-teaching staff to know level of awareness of Health Insurance. It will help to study and analyze the literacy level. It has wide scope for Insurance co. to capture the untargeted market and develop new plans if necessary.

There are different types of Health Insurance Plans with different premium amount.

Keywords: Affordability, Health Insurance, Insurance, Schemes.

I. INSURANCE

Insurance means a promise of compensation for any potential future losses. It facilitates financial protection against by reimbursing losses during crisis. There are different insurance companies that offer wide range of insurance options and an insurance purchaser can select as per own convenience and preference.

Several insurances provide comprehensive coverage with affordable premiums. Premiums are periodical payment and different insurers offer diverse premium options. The periodical insurance premiums are calculated according to the total insurance amount.

Mainly insurance is used as an effective tool of risk management as quantified risks of different volumes can be insured.

Area Of the Problem:- My previous work was related to “health insurance through Bancassurance”. Most of the research work focus on teachers, Professors, and area of non teaching staff is neglected. So, researcher trying to focus on them.

II. HEALTH INSURANCE

Individual Health Insurance is one in which the individual is provided with a long-term benefits for their health and medical hazard costs. The individual makes an investment known as a premium for the variable costs incurred by him due to accidents, illness or sudden hospital checkups. It is a comprehensive medical coverage for the individual customer and / or his family. They are different from employer group or organizations health Insurance schemes. There is variety of medical insurance options available to the customers with customized services attached and at affordable rates.

III. TYPES OF HEALTH INSURANCE

There is no best plan designed for a particular family or individual. One needs to choose the plans judicially considering the following:

1. Whether the need is for long-term coverage or for the short-term?

2. Looking for a basic coverage or more comprehensive coverage?

3. Prefer to pay for services before they are used or at the time of usage?

4. How easy is the access of specialists (doctors) for the user?

5. Any specific doctor or hospital preferred by the individual or family?

6. The maximum sum of money that the user can afford to pay in case of a serious illness or injury.

7. In spite of having ESIC as a tool of health measure, still are they interested in buying health insurance?

IV. BENEFITS OF BUYING HEALTH INSURANCE

As being insured is good thing, everyone must insure themselves. There are some benefits of taking health insurance:-

1) It helps in emergency case.

2) It helps to minimize the pressure of medical expenses

3) It helps to take quick decision regarding higher level of treatment.

V. OBJECTIVE

1) To study the level of awareness regarding health insurance in non-teaching staff.

2) To study their affordability for investment

3) Many permanent and senior employees are hesitant to buy health insurance as they say “they are having ESIC” still they buy health insurance, giving a cause for study.

VI. HYPOTHESIS

1) Private Health Insurance is well known to non teaching staff 2) They are having sufficient amount to invest.

VII. LIMITATIONS

1) Employees hesitate to give numeric data.

2) Time constraint was observed in survey of employee.

3) Group health insurance schemes were observed to be taken privately by many colleges.

VIII. RESEARCH METHODOLOGY

Basically Research methodology is the way to find out the numerical values which are expected as outcome form respondent opinion. It’s a form of question; it may be objective type or descriptive type. Here researcher using primary as well as secondary data to study.

In Primary data, researcher distributed questionnaire. Study on different opinions of the respondents.

Secondary data:- data which is already prepared by others in different form can be called as secondary data. It may be books, journals, news, previous study reports etc…online data , websites also included in secondary data.

8.1 Sample Size

No of Samples: - 10000 questionnaire distributed in non teaching [administrative staff ] in Senior College.

8.2 Analysis

Are you doing exercise regularly? Do you have Health Insurance?

Yes 35%

No 65%

Regular Exercise

YES 28%

NO 72%

Health Insurance

Q3. Who is your Insurer? Q4. What type of Health Insurance Policy you have?

a) Public

Company Private Company Any other (Specify)

1700 1100

0

Insurer

Series1

a) Individual

Health Insurance Family Floater

Health Insurance Group Health Insurance

1000 600 1200

Type of Policy

Series1

Q5. For which purpose you

purchase this policy? Q6. Who motivate you to bring this policy?

Previous Diseases 50%

Income Tax Benefit

0%

Risk cover for Future illness

7%

Employer’s Contribution

43%

Any other (Specify)

0%

Purpose to purchaes

Relatives, 600

Friends, 1700 Advertisemen

t, 200 Insurance Officials, 100

Yourself, 200

44%

56%

Q 7 If group health insurance is there, then have u taken a separate H I policy for your

family?

Yes No

7%

70%

23%

If yes , mentioned the cover

Upto 2 Lakh 2 to 5 Lakh Above 5 Lakh

SA 0%

A 36%

I 32%

D 18%

SD 14%

I am aware about the companies offering health insurance

SA 11%

A 53%

I 29%

D 7%

SD 0%

I am aware about schemes offered by major health

insurance companies.

SA 7%

A 11%

I 50%

D 21%

SD 11%

I am aware about diseases not covered in health insurance

premium.

SA 32%

A 29%

I 21%

D 11%

SD 7%

I am aware about the benefits of health insurance

SA 50%

A 28%

I 11%

D 11%

SD 0%

A health insurance policy can cover the risk of a major medical

expenditure

SA 0%

A 43%

I 29%

D 7%

SD 21%

I am aware about the general cost of health insurance

premium

0%

21%

47%

18%

14%

I am aware about the health insurance claim procedure.

SA A I D SD

SA 67%

A 19%

I 11%

D 3%

SD 0%

Low salary/non availability of funds

SA 70%

A 22%

I 8%

D 0%

SD 0%

More hidden cost involved

SA 0%

A 53%

I 28%

D 15%

SD 4%

Don’t feel the need for it

SA 0%

A 60%

I 32%

D 8%

SD 0%

Inadequacy of knowledge on the part of insurance agents

SA 74%

A 18%

I 5%

D 3%

SD 0%

Unaware about it

SA 1%

A 31%

I 58%

D 10%

SD 0%

Narrow policy options

SA 0%

A 40%

I 43%

D 13%

SD 4%

Lack of comprehensive coverage

SA 0%

A 67%

I 15%

D 10%

SD 8%

Lack of reliability and flexibility

SA 50%

A 31%

I 11%

D 5%

SD 3%

Linked hospitals are not easily accessible

SA 58%

A 17%

I 11%

D 10%

SD 4%

Difficulty in availing services in hospitals

SA 46%

A 38%

I 16%

D 0%

SD 0%

Don’t like to buy

SA 0%

A 8%

I 60%

D 18%

SD 14%

Saving in some other areas to meet health care needs

SA 0%

A 14%

I 54%

D 21%

SD 11%

Prefer to invest money in some other areas

IX. FINDINGS

1) Very few respondents do regular exercise. Therefore more chances of becoming patients.

2) Only 28% from total sample size have Health Insurance. It shows low level of awareness.

3) Most of the respondent believes on Public Company to opt for Insurance.

4) As an employee mostly respondent covered under Group Health Insurance and others prefer Individual Health Insurance rather than Family floater.

5) Respondent mentioned their purpose of purchasing Health Insurance Plan as Previous diseases. No one preferred for the purpose of Income Tax.

6) Friends and relatives are the main motivator who insist to purchase plan.

7) 36% agrees on showing their awareness about companies, offering Health Insurance.

8) 53% of total respondent are aware about schemes offered by major Health Insurance CO.

9) 50% respondents have their indifferent views regarding awareness about diseases not covered in Health Insurance Premium.

10) Different views from respondent received related to the benefits of Health Insurance

11) 50% respondents strongly agree that health insurance policy can cover the risk of major medical expenses.

12) Very few people disagree to show their unawareness about general cost.

13) Many respondents are aware about claim procedure , but still it requires to make them aware about it.

X. NON-INSURED

Respondents give different reasons of not purchasing health insurance; they are as follows:-

Low salary, they feel it includes more hidden cost, there is need of HI, Inadequacy of knowledge of agents, unaware about it, narrow policy options, Lack of comprehensive approach, lack of reliability and flexibility, Linked hospitals are not easily accessible, difficulty in availing services, Don’t like to buy, want to save in different setor, already saved in different area to fulfill medical need if any, and so on…

X. CONCLUSION

Education Institute are basically divided into 2 :- Granted and Non Granted Colleges, which have major impact over purchasing Health Insurance.

It was observed that many respondent from non granted colleges are still uninsured as they get low salary from their Institute. Here it proves that they don’t have sufficient amount to invest in health insurance. Respondent in Pune are quite aware about Health Insurance as compare to other locations.

The service aspect is still a major concern because in many of the cases specially in rural areas the customers were found that they were not understanding the English forms as the local language i.e Marathi,Ahirani were in force and plus the literacy levels and local connections came into play more;

It is necessary to increase campaign for awareness of health insurance, many respondent are not perfectly know about difference between health insurance and life insurance.

BIBLIOGRAPHY AND REFERENCES Websites

1) http://www.businessdictionary.com/definition/insurance.html#ixzz3lDMhDeRE 2) http://www.investorwords.com/2510/insurance.html#ixzz3lDMokU00

3) http://finance.mapsofworld.com/insurance/meaning-insurance.html 4) www.irda.gov.in

5) Times of India 6) www.rgjournals.com Journal Papers

[1]. Pooja Kansra and Gaurav Pathania, A study of factor affecting the demand for health insurance in Punjab, Journal of Management and Science, Vol.2. No.4.Dec 2012 ISSN 2250-1819 / EISSN 2249-1260, 1-10 [2]. Bawa, S and Ruchita 2011 Awareness and willingness to Pay for Health Insurance : An Empirical Study

with Reference to Punjab India, International Journal of Humanities and Social Science ,Vol 1 No. 7