CTI Urges Action as Health Insurance Premiums Surge, Squeezing Middle Class

The Chamber of Trade and Industry (CTI) is calling for government intervention as health insurance premiums rise sharply, putting financial pressure on middle-class households and small traders. CTI highlights the ineffective role of the Insurance Regulatory and Development Authority of India in regulating premiums.

The Chamber of Trade and Industry (CTI) has expressed serious concerns over the soaring costs of health insurance premiums, urging governmental intervention to bring relief to the financially burdened middle class and small traders.

In an appeal to Finance Minister Nirmala Sitharaman, CTI chairman Brijesh Goyal highlighted a worrying trend of 15 to 20 percent premium increases over recent years. He stated that these hikes are straining household budgets, resulting in many individuals prematurely ending their policies.

Goyal criticized the Insurance Regulatory and Development Authority of India for its inadequate oversight, as he called for uniform premium regulation to protect citizens from arbitrary price hikes by insurance firms.

(With inputs from agencies.)