Insurance for Mental Health

People are claimed to have been deterred from getting treatment for mental health concerns because of the stigma associated with them.  It also doesn't help that treating mental illnesses can be expensive.

However, it is not just financial constraints that prevent people from receiving effective care. In truth, India's present healthcare system is unprepared to handle mental health issues adequately. The majority of behavioural disorders in people with mental illness, according to mental health specialists, should be identified and treated early. Unfortunately, most hospitals lack the bare essentials for treating physical and mental illnesses. In India, the number of mental healthcare specialists, such as behavioural therapists and psychiatrists, is also very low. Because of all of these circumstances, it is extremely difficult for patients to receive appropriate treatment.

The Insurance Regulatory and Development Authority of India (IRDAI) proposed that mental diseases and various other health concerns be included in all ordinary health insurance coverage in its exposure draught released last year, with the goal of making mental healthcare accessible to all. IRDAI made it explicit in the exposure draft that insurers cannot refuse coverage to consumers who have previously used opioids or anti-depressants. People with a demonstrated history of clinical depression, personality or neurological disorders, sociopathy, or psychopathy cannot be denied coverage by insurers.

In addition, the IRDAI instructed insurers to include puberty and menopause-related illnesses, as well as age-related macular degeneration, in standard health insurance plans. Many insurers began producing products to meet the special needs of those suffering from mental diseases once the directives were announced.

There are several insurance options available.

Reliance Health Insurance Company and Max Bupa Health Insurance, two well-known insurers, have already created health plans tailored to patients with mental illnesses.

The Health Pulse Plan from Max Bupa covers mental health therapy. Policyholders are covered up to the full amount of the insurance policy. Only a few requirements apply to a limited sub-limit. For the time being, the plan is limited to treating patients in tier 2 and 3 cities. However, residents of tier 1 cities including as Delhi, Kolkata, Mumbai, and Chennai will eventually be covered by the scheme.

HDFC Ergo's Critical Illness Plan - Platinum, on the other hand, covers Alzheimer's disease as well as 15 other critical illnesses.

The Health Pulse Plan from Max Bupa is a conventional health insurance plan, whereas the Platinum Plan from HDFC Ergo is a fixed benefit plan.