ESI ( Employee's State Insurance Act) : This act has been enacted in India in 1948 but came into reality from 25th feburary 1952.Employees' State Insurance is self financing social security & health insurance scheme for Indian worker.For all employes earning 25000 per or less per month as wages are eligible to avail this scheme.The employer contributes 4.75 % & employee contributes 1.75 % , total share 6.5 %. This fund is managed by ESI corporation according to rules & regulation ESI act 1948, which oversees the provision of medical & cash benefits to employees & their family through its large network of branches, hospitals & dispensaries through out India. ESIC is an autonomous corporation under ministry of labor & employment , Government of India.This provides medical & cash benefit to employees.
Recently Union ministry of labor has raised salary cap for availing ESI to rs 25000. This move is expected to expand coverage to an additional 5 million workers & their dependents.
Out of pocket expenditure on health at 67% india's total spending on health as per the planning commission figures, is the highest in the world. As due to ESI benefit there will be reduction in medical expenses by the employees & it would be a potential boost for consumer spending.
Apart from this any contributory provisioning of medical treatment is at best a short term solution in a largely poor country.
Planning commison's high level expert group has recommended to merge the National rural health mission & rashtriya swasthya bima Yojna into a system of universal health coverage(UHC) which should be entirely tax funded & cashless at delivery.
Recently Union ministry of labor has raised salary cap for availing ESI to rs 25000. This move is expected to expand coverage to an additional 5 million workers & their dependents.
Out of pocket expenditure on health at 67% india's total spending on health as per the planning commission figures, is the highest in the world. As due to ESI benefit there will be reduction in medical expenses by the employees & it would be a potential boost for consumer spending.
Apart from this any contributory provisioning of medical treatment is at best a short term solution in a largely poor country.
Planning commison's high level expert group has recommended to merge the National rural health mission & rashtriya swasthya bima Yojna into a system of universal health coverage(UHC) which should be entirely tax funded & cashless at delivery.
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