Star Health Insurance, ICICI Lombard jump as government is likely to increase PMJAY insurance cover

Leading Indian health insurance firms Star Health Insurance and ICICI Lombard are trading higher on BSE on Tuesday (December 12, 2023) after the government sources told Zee Business that the government might increase PMJAY insurance cover in the budget.  

Star Health Insurance closed the day higher by 0.20 per cent, or Rs 1.10, at Rs 552.50, while the shares of ICICI Lombard ended the session up by 0.66 per cent, or Rs 9.55, at Rs 1455.45 each on Tuesday. 

On Monday, sources told Zee Business that the central government might increase Pradhan Mantri Jan Arogya Yojana (PMJAY) insurance cover in the upcoming budget.

What is Pradhan Mantri Jan Arogya Yojana (PMJAY)?

PMJAY is the national public health insurance scheme of the central government.

The medical scheme aims to provide free access to health insurance coverage for low-income earners in the country.

Approximately, the bottom 50 per cent of the country qualifies for this scheme.