New Delhi: The Union Government is likely to pay an annual premium of less than Rs.1,200 per family for the ambitious National Health Protection Scheme, for which approximately Rs.12,000 crore is required every year.

For 2018-19, the Government has made an initial provision of Rs.2,000 crore and an extra Rs.800 crore is expected from the States, when they join the scheme.

Some money is also expected from the enhanced health and education cess. Taken together, the resources are adequate to launch the scheme, most probably on Oct.2, say Government officials.

The NITI (National Institution for Transforming India) Aayog is working towards a launch on Independence Day of the Government’s latest flagship National Health Protection Scheme, which was announced in the Union Budget Thursday.

Top officials in the Aayog said that Gandhi Jayanti, on Oct.2, was the “upper limit” deadline for the formal launch while the full-scale roll out, subject to the pace of work by States, is expected to take place in about one-and-a-half years. Consultations with States are expected to start next week.

“Gandhi Jayanti is the latest by which the scheme will be launched. We, in fact, are working towards an Independence Day launch. We are ready. Work has been going on for very long now,” said NITI Aayog Member (Health) Dr. V.K. Paul.

Union Finance Minister Arun Jaitley said, the scheme, dubbed as the world’s biggest health cover plan that provides medical insurance to 50 crore individuals, would be cashless and not a reimbursement scheme.