In order to make health insurance available to all, the Insurance Regulatory and Development Authority of India (IRDAI) recently introduced certain new laws in order to make health insurance more user-friendly. To start with, a committee report that restricts exclusions under a health insurance policy has been introduced which are completely customer-friendly. Specifically, IRDAI issued a draft to introduce a standard health insurance plan for all with a basic sum insured of ₹50,000 to ₹10 lakh, as per the requirement of the customer. Alternative medicineIRDAI also mandated that the standard health insurance plan will also provide coverage for expenses incurred on alternative treatment such as AYUSH, which includes homeopathy, ayurveda, siddha or unani. (The author is Business Head, Health Insurance, Policybazaar.com)

Source: The Hindu October 20, 2019 16:07 UTC