All Health Policies To Cover Mental Illness, Says Irdai
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Irdai tells insurance companies to ensure that all health insurance policies cover mental illness by October 31, 2022
The Insurance Regulatory and Development Authority of India (Irdai) has directed insurance companies to ensure that all health insurance policies should cover mental illness. Insurers have been asked to implement the new rule by October 31, 2022.
“All insurance products shall cover mental illness and comply with the provisions of the MHC Act, 2017 without any deviation. Insurers are requested to confirm compliance before October 31, 2022,” said the Irdai circular.
According to the Mental Healthcare Act, 2017, every insurer will have to make provision for medical insurance for treatment of mental illness like they do for the treatment of physical illness.
"All existing polices would have to evolve to meet the holistic requirement for mental wellbeing," says Amjad Khan, director, employee benefit practice and international business, Anand Rathi Insurance Brokers.
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It should not end up driving up mental healthcare costs.
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Like how in the U.S. of A, (for all kinds of ailments) the insurers (agents sitting in insurance company or its TPA) override what the doctors suggest.
Sometimes denying procedures or claims with sacrilegiously insane reasons or simply deny.