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Planning to get mental health insurance? what you should Know

Mental health insurance and what it covers

Mental health issues have become one of the growing concerns today, especially after the COVID-19 pandemic, which has led to a spurt in cases of mental illness.

Efforts are being made through campaigns and other means to create awareness about mental health. However, many of those facing such issues are hesitant to seek help for fear of being stigmatized.

As in the case of physical illness or injury, it is important to get medical help for mental health problems.

There is also an act, Mental Health Care Act 2017, To “protect, promote and fulfill the rights” of persons with mental illness while providing mental health care and services.

Further, the Act also states that “every insurer shall make provision for medical insurance for the treatment of mental illness on the same basis as is available for the treatment of physical illness.”

Implementing this, the Insurance Regulatory and Development Authority (IRDAI) had recently directed insurance companies to cover mental illness in their insurance products and confirm compliance with the MHC Act 2017 before October 31, 2022. Indian Express,

This means that if you need to be hospitalized for inpatient treatment, your mental health insurance plan will cover the cost of the treatment.

This includes cost of medicines, cost of diagnosis, treatment, ambulance charges and hotel fare. This cover may vary for different insurance companies.

some Mental Disorders There are depression, bipolar disorder, eating disorder, bipolar disorder, post-traumatic stress disorder (PTSD, schizophrenia, and eating disorder).

But before you plan to buy mental health insurance, it should be noted that the coverage has some exclusions.

Currently, coverage does not cover mental retardation or intellectual disability. In addition, any consequences arising out of alcohol or drug abuse are also not covered under the scheme.

Apart from making sure that your illness is covered under the plan, you should also explore the various options available in the market, as the cost of mental health insurance can vary.

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