How Does Mental Health Coverage In Your Health Insurance Ensure Absolute Protection?

Stereotypes and stigma have long permeated the field of mental health in our society. Even though there have been tremendous advances in the medical field, these age-old stereotypes refuse to diffuse!

Therefore, it is unsurprising that even though people encountered this problem, they were reluctant to discuss it publicly. The epidemic era did have one benefit: after collectively enduring a life of isolation and experiencing personal losses, this conversation was made public.

Although the awareness is beginning to sink in gradually, there is still a long way to go. It is crucial to secure mental health coverage under a comprehensive health insurance plan, just as seeking treatment for mental health conditions. Despite increased awareness due to the Covid-19 outbreak, many individuals are unaware that comprehensive health insurance includes mental health coverage.*

Understand Mental Health

After the pandemic, the Insurance Regulatory and Development Authority of India (IRDAI) issued new instructions to insurance companies to include mental health coverage in all health insurance plans by 2020. As a result, the insurers must adhere to the Mental Healthcare Act 2017’s definition of mental disease when evaluating the risk. #

What Is Covered By Insurance For Mental Health?*

Most comprehensive health insurance plans today cover hospitalization expenses related to potential mental illnesses for the policyholder.  This insurance pays for the patient’s hotel rental, prescription drugs, diagnostic tests, ambulance fees, and medical expenses.

A person with a mental condition will also likely incur considerable OPD (Out-Patient Department) costs, such as nursery services, medications, or physician visits. Insurance firms are developing more and more OPD cost-covering programmes. The necessity of choosing coverage that covers OPD costs cannot be overstated. *

The following conditions are examples of mental illnesses that are covered by insurance:

  • Anxiety conditions
  • Chronic Depression
  • Trauma-related stress disorder
  • State of attention-deficit/hyperactivity
  • Bipolar illness
  • Uneasy feeling
  • Schizophrenia
  • Disorder of compulsive behaviour
  • Psychotic agitation

Who Ought To Buy It?

Mental health illnesses are not exclusive to any age group or population due to the growth in general stress levels. Even students and young adults are susceptible to them, making them prevalent in younger and older groups. Individuals with a family history or personal experience of such conditions should strongly consider buying family health insurance, as these factors increase the likelihood of being affected. Those with a history of antidepressant or narcotic use should also purchase mental medical insurance.

Is There A Waiting Period For Insurance For Mental Health?

Like with any insurance, a person with a pre-existing condition must wait a specified amount of time from the date the policy was issued before receiving the benefits of the policy. This waiting period is specified in the policy. This time frame often falls between two and three years. Therefore, starting as early as feasible is advised if someone plans to obtain this medical coverage.

*     Standard T&C Apply

# Visit the official website of IRDAI for further details.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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