Health Insurance Policies Cover Widens: The Insurance Regulatory and Development Authority of India (IRDAI) has made it obligatory for all well being insurance insurance policies to cowl psychological sicknesses. Earlier, most well being insurance insurance policies didn’t cowl psychological sickness no matter being pre-existing or recognized after the coverage buy. However, that can change from November 1.Also Read – Uttar Pradesh: Woman Chained For 36 Years Finally Gets Her Freedom
This Will Cover Both New And Old Insurance Plans
“This mandatory coverage means that the insurers will have to consider mental illnesses the same way as physical illnesses, both in the old and new policies. That means the insured will be covered for hospitalisation expenses towards treatments of mental illnesses, too,” ET quotes Siddharth Singhal, Business Head-Health Insurance, Policybazaar.com Also Read – Money Talks: As Claims Double & Health Insurance Premiums Rise, Use These Hacks To Save Your Money
The New Rule Will Make It Mandatory To Cover All Kind Of Mental Illnesses
The illnesses like dementia and Alzheimer’s weren’t coated by primary complete well being insurance policies earlier. Not anymore. “All mental illnesses such as dementia, depression and bipolar disorder shall be covered unless some specific exclusions are mentioned in the policy,” says Singhal. Also Read – New Surrogacy Rules: Couples Must Buy 3-Year Health Insurance For Surrogate Mothers. Full Details Here
Will OPD Cost Of Mental Illness Be Covered?
Most well being insurance protection works solely when 24 hours of hospitalisation is required. These insurance policies will cowl any psychological sickness the place such hospitalisation is required.
However, there are lots of new insurance insurance policies that provide OPD protection. What occurs right here in case of a psychological sickness prognosis? “If the customer has purchased an OPD cover, then the costs towards doctor consultations, diagnostic tests, etc, shall also be provided by the insurer,” says Singhal.
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