How One Insurance Professional Can Make a Huge Difference for the Country – Dr Tapan Singhel

Pune, 4th September 2025: A single voice of consistent advocacy has played a defining role in shaping a landmark decision that could impact millions of Indians. Dr Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance, has for years urged policymakers to reduce the Goods and Services Tax (GST) on health insurance premiums to make healthcare protection more affordable. His call has now been answered, with the GST Council moving health insurance under the NIL GST bracket.

Industry experts and citizens alike are calling this move a turning point in India’s push towards universal healthcare. According to Dr Singhel, the exemption will significantly ease the burden of rising medical inflation, reduce financial strain on households, and accelerate insurance penetration across the country.

“This decision is not just a tax reform; it is a progressive step towards achieving the vision of ‘Insurance for All by 2047’,” Dr Singhel said. “By lowering the cost barrier, the government has strengthened India’s health security and taken a decisive step in ensuring every Indian has access to comprehensive healthcare.”

While hailing the GST exemption as a milestone, Dr Singhel emphasised that the journey toward affordable healthcare is far from complete. He called for the establishment of a dedicated regulator for hospitals to tackle unchecked medical costs, which remain a significant challenge for both patients and insurers.

“The absence of regulation allows hospitals to levy unregulated charges, directly driving up healthcare costs and, in turn, premiums,” Dr Singhel explained. “A regulator would bring transparency, standardised pricing, and fairness to the system — ultimately making insurance more stable and affordable.”

Analysts say the combination of GST relief and hospital regulation could reshape the landscape of healthcare affordability in India. If implemented, the two measures together could not only ease household expenses but also contribute to strengthening the country’s healthcare ecosystem.

With health insurance now freed from tax and discussions gaining traction around regulating hospital charges, India moves a step closer to ensuring equitable and accessible healthcare for all.