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Published on : Aug 03, 2015

China has plans of expanding the medical insurance that it offers, in order to cover most serious illnesses that affect its population. This will finally be implemented by the second half of this year. The government is trying to come up with a healthcare system remedy for a situation over which the public had expressed its discontent. 

As per a statement on an official website of the government, fifty percent of the total medical costs would be borne by the insurance with a view towards being more proactive and effective in decreasing the surging medical costs. Xi Jinping, the president has expressed the importance of affordable healthcare in his administration. He has also discussed the importance of catering to the needs of the population of China. 

There have been numerous complaints and grievances from the masses about high expenditure on healthcare arising from low and insignificant insurance coverage. Quite a few people in China have expressed that the treatment of ailments such as diabetes and cancer has become a major burden on most households. 

According to the state council, the main rationale behind increasing health insurance was to reduce the problem of poverty arising from different types of illnesses. This would ultimately lead to the creation of strong healthcare system for China. The total funds spent by China in 2009 on bringing about reforms in the healthcare sector was 307 billion pounds. But the problem of scarce doctors, frequent assault on medical staff by patients, and the presence of a fragmented retail and drug distribution market are lingering issues in the current healthcare system of China. 

As per economists, China must necessarily better the quality of healthcare in order to enhance domestic consumption and bring about positive changes in the economy. It is also said, that a strong safety measure in this regard will in a way encourage the Chinese to save less and perhaps spend more.