IRDAI Sets Deadline to Include Mental Illness Cover Under Health Insurance

Kathmandu: The Indian Insurance Regulatory Authority (IRDAI) has set deadline for mental health insurance service amid unnecessary delayed implementation by the health insurance companies.

In a circular issued by IRDAI on October 18, IRDAI has issued instructions to all health insurance companies to compulsorily introduce health insurance policies with the facility of providing treatment expenses for mental illnesses by October 31.

In the circular, the regulator has said, “It is reiterated that following the provisions of the Mental Health Act 2017, all health insurance policies will cover mental illness from 31 October 2022.” According to the Act, every insurer has to provide coverage for the treatment of mental illness under health insurance policy. Insurers have also been instructed to confirm compliance within the stipulated time frame.

Earlier, the IRDAI had in August 2018 directed all insurance companies to implement the provisions of the Act immediately. And even in June 2020, the Supreme Court had directed the central government and the regulator to provide medical insurance cover for the treatment of mental illness, but insurance companies are refusing to provide such coverage.

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