Health Insurance: IRDAI has issued important guidelines for health insurers, including those treating patients at home.
The IRDAI has ordered insurance firms to offer new plans that would cover those who have been treated at home. The following are the specifics.
With coronavirus changing patterns, so has the treatment methods too which have evolved dramatically. Millions of individuals who were infected afflicted with coronavirus stayed at home and took medications to protect themselves. The Insurance Regulatory and Development Authority of India (IRDAI) has ordered insurance companies to develop a new form of an insurance policy based on these considerations. As a result, health insurance will be accessible for at-home treatment for any condition.
The new scheme can be added to the existing policy.
The IRDAI has asked businesses to create plans to cover those, who have been treated at home with insurance. An existing policy can be supplemented with this feature. According to an IRDAI circular sent out to insurance firms, businesses can add this feature to existing health insurance or house insurance policy by charging clients a fee. According to the IRDAI, if a doctor recommends that an ailment be treated at home, it is covered under home treatment insurance if hospitalization is considered necessary later. Currently, health insurance benefits are only available for hospitalization and treatment.
Shankar Bali, Managing Director of Vidal Health Joint, stated that health insurance options that include home care are still restricted. However, he did say that with the new IRDAI circular, firms would be able to introduce new sort of home treatment products. It will help both businesses and consumers.
Can be treated with the help of a nurse
Bali said, "Suppose a patient undergoes surgery and later needs dressing or physiotherapy, then it is not covered in insurance at present. This type of home treatment can also be included in the new product. If the doctor sees the patient through video conferencing and the treatment is carried out at home with the help of a nurse, then this can also be covered under insurance."
The cost to companies will also be saved
According to experts, this sort of product will save insurance companies money because home treatment is less expensive than hospital care, and sales of such products will be more likely.