Health Insurance Based on Credit Card in Financial Institutions for Developing Countries: Challenges and Opportunities

In developing countries, access to health insurance remains a critical challenge, with large segments of the population unable to afford adequate coverage. One potential solution is integrating health insurance with financial institutions, particularly through credit cards, offering a convenient and accessible method for individuals to manage health expenditures. Credit cards can open a new horizon to make healthcare affordable, convenient, competitive and important in improving service quality. Act as innovative tools to innovate and introduce financial institutions.This paper explores the concept of health insurance linked to credit cards, examining its viability in developing countries. We investigate the potential benefits, such as increased healthcare accessibility and financial inclusion, alongside challenges like limited financial literacy, regulatory barriers, and credit risks for low-income populations. Additionally, this paper highlights opportunities for financial institutions to partner with healthcare providers, expanding access through innovative models. Through case studies and analysis, we identify key success factors and propose a framework for effective implementation. The findings suggest that credit card-based health insurance has the potential to significantly improve healthcare access in developing countries, provided that regulatory, technological, and socio-economic challenges are adequately addressed.