In a bid to comply with the provisions of the Mental Healthcare Act, 2017, the insurance regulator IRDAI has asked all insurance companies asked all the insurers to provide medical insurance for treatment of mental illness from immediate effect.
The IRDAI order issued on Aug. 16, said that, “every insurer shall make provision for medical insurance for treatment of mental illness on the same basis as is available for treatment of physical illness.”
Currently, almost all insurance companies exclude treatment for mental illnesses from health insurance.
According to the Mental Health Care Act 2017, “Every insurer shall make provision for medical insurance for treatment of mental illness on the same basis as is available for treatment of physical illness.”
Mental healthcare includes analysis and diagnosis of a person's mental condition and treatment as well as care and rehabilitation of such person for his mental illness or suspected mental illness, according to the Mental Healthcare Act 2017.
Mental-health issues like depression are one of the biggest triggers of suicide in India,
In addition to decriminalizing attempted suicide — which was earlier punishable under Indian law with up to one year in prison or a fine — the new Act l recognizes the rights of the mentally ill.
Atleast 15 crore Indians were in need of active interventions for different levels of mental disorders, according to the National Mental Health Survey of India 2015-16. Families had to spend approximately Rs 1,000 – Rs 1,500 a month for treatment and travel to access care. Other hidden and intangible expenses, mostly out-of-pocket, added to the financial burden, the survey found.