Health insurance policies that cover COVID-19 treatment costs will also cover the cost of treatment towards the Omicron variant, Insurance Regulatory and Development Authority of India (IRDAI) said.
The clarification was being issued in the wake of spread of Omicron cases. The regulator said this citing an April 1, 2020 statement in which it had clarified that all indemnity based health-insurance products that cover treatment costs of hospitalisation, offered by general and health insurance companies, cover the costs of hospitalisation on account of COVID -19.
“It is clarified that all health insurance policies issued by all general and health insurance companies that cover treatment costs of COVID-19 also cover the costs of treatment towards Omicron variant of COVID-19 as per terms and conditions of policy contract,” the IRDAI statement on Monday said.
The regulator advised the insurance companies to put in place effective coordination mechanism with their network providers (hospitals) for making available seamless cashless facility as well as speedy service to policyholders. It requested hospitals to honour the service level agreements they have entered with insurance companies for the purpose of providing cashless treatment to health insurance policyholders.
