Most health care spending in Myanmar is borne by means of out-of-pocket payment (OOP). A national health insurance scheme has not yet been established. This cross-sectional study explored the awareness and acceptance of community related to health insurance, and their willingness to pay during February and March, 2014. Multi-stage random sampling procedure was used to recruit 1,346 household heads from 27 townships. As might be expected, the awareness of health insurance was low (8.4%; 95% CI = 7.0%, 10.0%). But following thorough explanation, the acceptance towards health insurance scheme was high (78.5%; 95% CI = 76.2%, 80.7%). The challenges towards the acceptance included as being poor (42.3%), thought as unnecessary (17.5%) and good health (12.2%). Significant determinants for the acceptance of community on health insurance were level of awareness, education, family size and urban/rural residence. The average annual value of willingness to pay (WTP) per person was 19,767 kyats (approximately 20 US$). People who were aware of health insurance, those with higher income, those with higher education status, those with smaller family size, those without experience of hospitalization, males and rural dwellers stated higher WTP values than their counterparts. This study pointed out that in line with the readiness of the community members, establishment of a national health insurance scheme should be considered and the awareness on its benefits requires improvement to ensure the success and sustainability of this scheme. The premium for health insurance should be adjusted for income.