The role of health finance in the personal finance of the communities to reduce financial stress during healthcare

Nimesh P. Bhojak; Jyoti Bala

Abstract

Personal finance play significant role to fulfill the present and future need and expectation of the individual. The individual fulfills their need based on the earning from the livelihood of the individual. But the saving and investment of finance need to fulfill their present and future expectation. Individual savings mainly considered as income minus expenses. The investment means invest the saving money to fulfill the future need of individual therefore the deposited money in the saving account and current account is not defined as investment. Investment helpful to purchase assets in the future, fulfill the retirement source of income like PPF and CPF, insurance investment like life insurance to fulfill the family need in the future, health insurance to fulfill the healthcare need etc. During the pandemic, community requires the healthcare finance which play major role to sustain and improve the quality life. This study reviews previous article and discuss the role of the healthcare finance to prepare the personal finance by the communities of the nation. The studyprovides the result which beneficial for the communities and policy maker to consider the healthcare finance as major concern for their personal finance.

Abstract

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