15-01-2021
IRDAI tells insurers to work out Covid treatment rates with healthcare players
Insurance AlertssIRDAI tells insurers to work out Covid treatment rates with healthcare players
Hyderabad: The Insurance Regulatory and Development Authority of India (lRDAI), has asked health insurers to work with healthcare players to come up with agreements on Covid-19 treatment rates on the lines of other diseases.
“… the insurers shall make efforts to have agreement with health providers on rates for treatment of Covid-19 similar to other diseases for which rate agreements are in place,” IRDAI said. It said that while entering into such agreements, insurance players can take into account the reference rate of GI council for guidance alongwith rates fixed by state governments and Union territory administrations.
The regulator also said that all the insurers need to ensure that the reimbursement claims under a health insurance policy are settled as per the terms and conditions of the respective policy contract.
Besides this, in another order, IRDAI has constituted a ‘Health Insurance Advisory Committee’ to examine various aspects of health insurance in India. The 10-member committee including Dr Nachiket Mor, visiting scientist, The Banyan Academy of Leadership in Mental Health, Dr AK Chand, professor and neurosurgeon, Dr BK Mohanti, former professor and oncologist, AIIMS, and Dr K Hari Prasad, a city anaesthetist, among others, will examine the availability of the health insurance products in the country.
The panel will suggest an approach on coverage of specific diseases. The committee, headed by IRDAI chairman, will develop a strategy on treatment protocol or rate structure to improve affordability of health insurance in India.
Source: The Times of India
