Health is a systemic entity and inequalities in health outcomes not only limit an individual’s potential to contribute to the economy but also inhibits one from living one’s life to the fullest potential, affecting one’s own well-being and social welfare at large. The purpose of this study is to assess the magnitude of inequalities in health outcomes and to explain the contribution of different factors to the overall inequality. Using the data of National Sample Survey Organization (NSSO) 60th (2004) and 71st (2014) rounds for the analysis, the health outcome of interest was self-reported morbidity captured in the survey with 15 days recall period. Socio-economic status was measured by per capita monthly expenditure, and the concentration index is used as a measure of socio-economic health inequalities and is decomposed into its contributing factors. Our findings show that high-level inequalities in self-reported morbidity were largely concentrated among wealthier groups in India. On the other hand, even though the inequalities in self-reported morbidity were more among the wealthier groups for Karnataka, yet the magnitude of inequalities in reported morbidity was low for both the years. Decomposition analysis shows that inequalities in reported morbidity are particularly associated with demographic, economic and geographical factors.