Insurance Regulatory & Development Authority of India (IRDAI) on January 3, said that all health insurance policies issued by all general and health insurance companies that cover treatment costs of covid-19 will also cover the costs of treatment towards Omicron variant of Covid-19 as per the terms and conditions of policy contract.
All the indemnity based health insurance products that cover the treatment costs of hospitalization offered by all general and health insurance companies cover the costs of hospitalization treatment on account of Covid -19, the regulator said.
The regulator advised insurers to put in place effective coordination mechanism with all their network providers (hospitals) for the purpose of making available seamless cashless facility to all policyholders in case of hospitalisation if any and render speedy services to all policyholders.
The regulator also requested hospitals to honour the service level agreements (SLA) that have been entered with insurance companies for the purpose of providing cashless treatment to health insurance policyholders.
