Why Mental Health Coverage Is Essential in Today’s Health Insurance Plans

Increased awareness about mental health led the Indian insurance regulatory body, IRDA, to mandate mental health coverage in all health insurance policies in 2019. With mental health treatments skyrocketing, it is important for health insurance plans to provide coverage for the same. This makes it easier to diagnose and treat mental health issues on time. Also, policyholders can choose from a wider network of experts for their specific mental health issues when coverage is part of their health insurance plans.
Why Mental Health Coverage Is Essential in Today’s Health Insurance Plans
Updated on
3 min read

Introduction

Mental Health is not a taboo topic anymore. With many people, especially celebrities in India and abroad, discussing openly about their mental health issues, the general public has become broad-minded in discussing these topics. Today, it is not a shame anymore to acknowledge you have been suffering from depression, anxiety, or any other mental health issue.

Mental Health Insurance - Meanings, Inclusions and Exclusions

What is mental health insurance?

This is a type of health insurance that provides coverage for the costs incurred for treating mental health ailments like depression, anxiety, bipolar disorder, Post-traumatic Stress Disorder (PTSD), Attention Deficit Hyperactivity Disorder (ADHD), eating disorders and the like.

Inclusions of mental health insurance

·         Doctor consultation charges

·         Costs involved in diagnostic procedures

·         Treatment costs for therapies, counselling and medications

·         Hospitalisation costs

Exclusions of mental health insurance

·         Mental disorders caused due to overuse of drugs and alcohol

·         History of frequent episodes of mental health disorders

·         Treatments and medication for mental retardation

It is important to check the terms and conditions of your service provider to know the exact details.

Why is Mental Health Coverage a Critical Part of Health Insurance Plans?

·         Costly Treatment Procedures

Mental health treatments are expensive. The therapies and counselling sessions, medications and other consultation procedures run into thousands of rupees. For example, an hour’s therapy session may cost about Rs. 2,000 in small cities and up to Rs. 9,000 in big cities like Mumbai and Delhi.

This is why mental health coverage should be part of your health insurance policy Your policy should provide coverage against therapies, doctor consultations, medications, diagnostic procedures and more.

·         Better Access to Professionals

When you set out to look for a mental health expert, your choices are limited. You may choose these experts based on reviews on the internet and references from friends and relatives. However, when your insurance plan offers coverage for mental health, you have better access to experts. Most insurance companies have tie-ups with some of the best mental health experts in your area, allowing you to choose the best.

This is quite helpful for your parents’ health insurance plans. Senior citizens are prone to mental health issues like depression, anxiety, irritability, social withdrawal and more. So, choose a plan with proper mental health coverage when buying health insurance for your parents.

·         Early Diagnosis

Most people don’t consult a doctor, even when they start showing visible symptoms of depression, stress, anxiety, post-traumatic stress disorder and other mental health issues. The first tendency is to ignore these symptoms, assuming they will improve with time. Also, since mental health treatments are costly, most people refrain from seeking medical health at the onset of these symptoms.

It is important to include mental health coverage in health insurance plans. When people know that their consultation charges and diagnostic processes are covered, they are more likely to consult an expert as soon as they experience symptoms. This way, the symptoms are diagnosed early, making recovery easier and quicker.

·         Huge Scope of Coverage

Today, most health insurance plans cover a host of mental health issues – right from anxiety and stress to the most complicated problems like bipolar disorder and schizophrenia. Hence, you can be assured of getting financial coverage for your mental health, regardless of its type and severity.

Choosing the Right Mental Health Coverage?

If you want to get the full benefits of the coverage, you should be aware of the following:

·         Choosing the right plan: It is very important to thoroughly understand your insurance plan's mental health coverage terms. This will help you understand the policy’s inclusions, exclusions, and conditions.

·         Checking the network of hospitals: If mental health is covered in your health insurance plan, check the network of hospitals. This will help you visit only those hospitals that are part of this network and get cashless treatment.

·         Knowing about coverage limitations: Some health insurance plans may limit the number of therapy sessions or hospitalisation periods covered. Check with your insurance provider about this. For example, if your policy covers you only for five therapy sessions a year, you should be aware of it.

Conclusion

Today’s fast-paced life, peer pressure, unhealthy lifestyles and inadequate work-life balance have led to an increase in mental health issues. With adequate mental coverage, you can be assured of better access to experts, quick diagnosis and proper treatment of your condition. Read through all your health insurance policy terms and conditions for a detailed list of mental health coverage inclusions and exclusions to avoid regrets later.

 Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

Disclaimer: This content is part of a marketing initiative. No TNIE Group journalists were involved in the creation of this content.

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