A mentally ill person’s life gets significantly more difficult when he or she loses the ability to do all of these essential functions. Even in the twenty-first century, mental illness is stigmatised in society, and individuals are unable to recognise or admit it openly.
Previously, no health insurance plan covered mental illnesses in any meaningful way. However, the worldwide breakout of the Covid-19 pandemic, which resulted in lockdown, increased the number of cases of mental stress and despair dramatically. It compelled individuals to look at life in a different light. This new normal lifestyle brought to light a number of previously overlooked aspects. The elements and terms of health insurance policies were also updated as a result of the “new normal” situations.
Are mental illnesses covered by health insurance?
Following various conversations, conflicts, and arguments, insurance companies are now beginning to consider mental illnesses as part of their coverage. They’ve now promised to pay for the treatment as well as any health or psychological issues that arise during the course.
Psychological problems must be covered by health insurance under the country’s existing legal obligation. The IRDA has argued for the inclusion of mental illnesses in health insurance plans, citing the Mental Health Act of 2017, which states that they must be witnessed and treated as any other physical sickness. Any conventional health insurance must now cover the costs of diagnosing any psychiatric ailment, expert consultation, and treatment expenditures as a result of the introduction of this new rule.
The advantages of covering mental problems in a health plan
Incorporating mental health care into health insurance has various advantages:
1. One of the most significant advantages in this regard is that Indian law mandates mental patients to be covered by health insurance. Insurance companies are no longer able to exclude mental illness from their coverage under the improvised requirement. They must provide adequate health insurance coverage to cover the costs of diagnosing any psychiatric disease, consultation fees, prescription fees, pharmaceutical prices, and any related expenditures incurred during the procedure.
If you are a valid policyholder, you are fully protected by the law and are entitled to proper compensation from the concerned insurance company if you suffer a mental illness.
2. Existing plans are impacted: This is yet another standout feature that you can use in conjunction with your current health plan. It is not an easy undertaking to revise, expand, or combine any health coverage with an existing plan. It takes some time and involves a lot of documentation.
Inclusion of mental illness coverage, on the other hand, is simple and requires no additional effort. It is seamlessly integrated into your current health insurance plan structure.
3. Covers a wide spectrum of mental illnesses, including:
Most of us are unaware of the various forms of mental diseases that exist since we are not yet open to the difficulties. Bipolar illness, anxiety disorder, schizophrenia, dementia, and Alzheimer’s disease are only a few of the conditions for which insurance companies provide adequate coverage and financial assistance.
When these problems develop, normal brain functionality and consciousness are disrupted, making it harder to conduct daily tasks. This facility’s presence is extremely advantageous for those who require continual medical supervision, coverage, financial aid for rehabilitation, regular testing, and proper treatment.