Mental Illness to be Included in Health Insurance Coverage
One of the most underestimated illnesses in society is mental illness. Despite the advances we have made in technology and science, as well as the fact that mainstream social media should have raised awareness already, most people still consider it as a theory, more than established disease that has been the root cause of many deaths, especially suicides.
This is reflected in most health insurance plans, as they are usually associated with strictly only physical ailments, like the malfunctioning of any organs in the body, as well as the hospitalization that usually follows for this kind of treatment. However, it seems all the attempts at spreading awareness have not been in vain, as even mental illness is going to be covered under insurance policies, and the costs needed during treatment are going to get reimbursed.
The Mental Healthcare Act of 2017, which was effectuated in May of this year, states that every insurer will make provisions in medical insurance regarding the treatment of mental illness on a similar basis as is available for physical illnesses treatments.
Because of this, the insurance regulator served a circular asking all insurers to follow this provision of the Mental Healthcare Act immediately. This means that the mental health benefits can’t have more restrictive requirements compared to those that apply to physical health.
Definition of Mental Illness in the Act
The Mental Healthcare Act states that mental illness is defined as a substantial disorder of thinking, perception, mood, memory or orientation that extremely hinders behavior, judgment, ability to meet the ordinary demands of life or capacity to recognize reality, mental conditions connected to the abuse of drugs and alcohol, but will not include mental retardation which is a condition of incomplete or complete development of a person’s mind, specially noted in the sub normality of intelligence.
Two important things are apparent from the definition. One is that it clearly won’t include mental retardation. However, it does include mental conditions that are associated with drug and alcohol abuse. But insurers are able to exclude the latter, if they wish. According to Vaidyanathan Ramani, the Head of Product and Innovation at Policybazaar.com, the traditional exclusions in physical illness like a full day of hospitalization required, or an outcome caused by alcohol might be excluded from mental illness too.
For now, most policy documents and brochures will exclude mental illness. According to experts, it will state that treatment of any psychiatric or mental condition including but not limited to mental or nervous breakdown, insanity, dementia, depression, and Alzheimer’s disease.
Mental Illnesses Commonly Known
Ramini also adds that whatever is classified as mental illness according to the World Health Organization’s ICD, also known as the International Classification of Diseases, will be considered covered. The norms here will be according to ICD-10 and 11. For example, schizophrenia and bipolar disorder are considered as mental illnesses.
Just In case of hospitalization due to mental illness, diagnosis and analysis of a person’s mental condition, as well as treatment and care and rehabilitation of the person for his mental illness, suspected or otherwise will be covered. The 24-hour mandatory hospitalization will also be a part of the healthcare process.
Will this include existing plans?
The insurer’s pre-existing plans might need to be re-filed with the regulator, and it should be expected that there be a price revision as well. According to Ramani, the insurers are to begin covering mental illness starting on the day the regulation was issued, which was last Aug 16. Also, the mental illness is going to be covered in the existing plans to the extent that is specified by the National Mental Healthcare Act of 2017.
More in Insurance
How to be Better at Work With a Job Makeover
You may start noticing some unpleasant occurrences as part of warning signals. When you see that your professional life is swinging...February 21, 2019
Porsche Makes in Six Seconds What Some US Employees Make in One Week
Staveley Head’s Report Two months ago, Staveley Head, a motor insurance provider based in the UK considered the financials of fourteen...February 21, 2019
How To Be Debt-Free in 2019
The yuletide in the air is almost fading away, yet we are faced with the big task of checking out our...February 21, 2019
Ariana’s Thank U, Next Beats Beatles’ Record after 60 Years
Ariana Grande is so talented that whenever she picks up a microphone, her voice sends chills down our spines. The gifted singer currently...February 21, 2019
Business Tips for First-Time Business Owners
Starting and owning a business is everyone’s dream. Yet, the road to achieving this dream is not all smooth. Most young...February 21, 2019
Celebrities That Get the Most Pay for Each Sponsored Instagram Post
It turns out that the social networking app, Instagram, known to a lot of people as a mobile application for sharing...February 21, 2019
Study Shows 40% of Millennials Do Not Prioritize Saving for their Retirement!
Most millennials today are enjoying their lives by eating out at fancy restaurants, buying their favorite expensive high-end gadgets or traveling...February 21, 2019
Watch Out for These Hidden Retirement Fees and How to Avoid Paying Them!
Most financial advisors advise their clients to save and build their retirement fund while they’re still young. Our retirement funds serve...February 21, 2019
How to Deal With Rising Insurance Costs
Most financial experts will advise the young workers to start saving early. If you save early, you’ll have more time, freedom,...February 21, 2019