Covid-19 Health Insurance Cover: Home treatment coverage to come under new plans as add-ons; customers may have to pay MORE on premiums

Health insurance coverage on home treatment will soon be a possibility and the insurance companies may offer this service as an add-on to the customers. However, the buyers of these health insurance policies may have to dish out more toward the payment of premiums.  

In a recent circular issued by the Insurance Regulatory and Development Authority of India (IRDAI), the insurance watchdog has allowed insurance companies to include home treatment service in the new policies as an add-on service. Meanwhile, the customers can also opt for home treatment in existing policies by paying extra premium.  

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As per the IRDAI circular, the home treatment claim will be processed as per the terms decided by the insurance company and the policyholder will be required to submit documents related to active treatment by the doctor. The claimant will also be required to furnish the daily monitoring charts while applying for the claims.  

Meanwhile, the insurance companies will be required to apprise the customers about the extra premium charges. Under the new rules the sum assured could go up to 100 per cent of the treatment cost.  

The Corona Kavach policy that was introduced on the directions of IRDAI during the pandemic will also allow home treatment as per this new circular. Other ailments will also be covered under the health insurance policies now if the treatment is taken at home and is recommended by the doctor.   

How it benefits the Customers? 

If the home treatment comes under the health insurance policies, the customers will be saved from paying for the expensive hospital room rents. Though they may have to pay more for doctor visits, nurses and other medical staff. 

More ailments are likely to be included as add-ons in the health insurance policies. The pricing of the insurance policies will now be depending on the add-on services.  

IRDAI has made it clear that the home treatment will have to be done by the doctor and the customers will have to produce documents that would substantiate active home treatment claims.