“All insurance policies shall cover mental illness”: IRDAI
According to the Mental Health Act of 2017, every insurer will be required to provide medical insurance for the treatment of mental illnesses on the same basis as physical health insurance, if health problems or illnesses arise. Concerns about the pandemic aim to highlight the need for increased funding for mental health services, raise awareness of behavioural health needs in health and policy discussions, and work to banish behavioural health stigmas. The insurance regulatory and development authority has directed insurance companies to provide coverage for mental illness and problems Health insurance plans will now cover mental health illnesses as well under health insurance policies before October 31, 2022. According to the Mental Health Act of 2017, all insurance must provide products and medical insurance for the treatment of mental illnesses while adhering to the same basic requirements as physical illness treatment.
According to the IRDAI, all insurance products must cover mental illness and adhere to the provisions of the Mental Health Care Act of 2017. Insurers are asked to confirm compliance before October 31, 2022.
Due to the pandemic, or COVID-19, mental health and illness have become a leading cause or highlight of concern nowadays, which has eased stress and anxiety levels. However, it is frequently being side-lined as the stigma surrounding mental health is fading and more people seek medical attention. Including any physical illness, it is necessary to take important steps to ensure one's or an individual's mental well-being. In addition, the health insurer also observed that many health insurance products marketed by insurers do not provide cover to infants and newborns with congenital birth defects from day one. The regulator says that all health insurance products that cover infants and newborns will provide coverage for internal congenital birth defects from day one without imposing any waiting periods, submits, or any other restrictive conditions. The 2017 Mental Health Care Act was enacted to ensure that all individuals with mental illnesses and problems have access to appropriate health facilities and services, as well as to protect, promote, and fulfil their rights while receiving such services.
What will your health insurance plan cover these days?
Now there is not enough clarity, but yet, insurance companies will make provisions for mental health illnesses including depression, bipolar disorder, eating disorders, post-traumatic stress disorder, schizophrenia, and so on. any standard health insurance policy over and above existing provisions. As a result, for anyone who needs hospitalisation for inpatient treatment of mental illness and problems, health insurance plans will cover the cost of the treatment, including medicine, diagnostics, ambulance fees, and so on.
Is there any exception to the plan?
At present, reports state that health insurance plans may not cover mental retardation or intellectual disabilities. However, insurance plans will also not cover drug and alcohol abuse under the current provisions or current situation.