Understanding the drivers of differences in the outcomes of insurance reforms is critical to inform future implementations of publicly funded health insurance to achieve the broader goal of universal health coverage. This paper makes a significant contribution to the existing literature by combining the data on claims, prices, and costs of health care packages to examine the impact of health benefit package (HBP) revisions. It demonstrates the significant positive impact of PM-JAY HBP revisions in package nomenclature, construction and pricing.