Soon, your healthcare policy may provide coverage for dental treatments, infertility, psychiatric disorders, among others. It stems from the fact that Insurance regulator, IRDAI has removed around 10 items from the list of “optional cover” for health insurance.
In a notification, the Insurance and Regulatory Authority of India (IRDAI) on Monday said in a partial modification of guidelines on standardisation of health insurance business some items have been deleted from the said list of ‘items for which optional cover may be offered by insurers’.
These include dental treatment, hormone replacement therapy, infertility, subfertility, assisted conception procedures, obesity treatment, psychiatric and psychosomatic procedures, corrective surgery for refractive error, treatment of sexually transmitted diseases, any expense for retro virus or suffering from HIV and AIDS, stem cell implantation, etc.
If implemented, it will help people to avail insurance claim under above mentioned diseases for which there is no need of hospitalisation.
Experts believe there is some ambiguity in the notification and to away with confusion; the insurance regulator most likely will issue a separate order soon.
It is well-known fact that despite many appeals and awareness programmes, insurance penetration in our country remains low. According to a Industry report, India’s current insurance penetration rate stands at 3.42%, far below the global average of 6.2%.