Irdai consolidates health cover rules

HYDERABAD: Insurance regulator Irdai on Tuesday issued consolidated health insurance regulations with amendments that include changes made in the recent past.
Amit Chhabra, head — health insurance, Policybazaar.com, said the guidelines state that general and health insurers may devise mechanisms or incentives to reward policyholders for early entry, continued renewals, favourable claims experience, preventive and wellness habits among all policy seekers and buyers.
It also states that in order to accept a policy which is being ported in, the insurer shall not levy any additional charges exclusively for the purpose of porting. Besides, an insurer shall not deny the renewal of a health insurance policy on the ground that the insured had made a claim or claims in the preceding policy years.
“The guideline highlighting all announcements around health insurance selling is an indication of how Irdai is making health insurance products more customer-centric and easy to buy even during the lockdown. The motive behind coming up with an elaborate and consolidated guideline listing all the changes announced so far is that the regulator believes how crucial it is for customers and insurers to rightly understand the real purpose of
health insurance and the types of coverages to those making a purchase decision,” Chhabra explained.
As part of amendments, Irdai has also asked insurers to provide coverage for one or more systems covered under Ayush treatment. It also sports special provisions for senior citizens. It also says that all life insurers, general insurers and health insurers and TPAs shall establish a separate channel to address the health insurance related claims and grievances of senior citizens.