The regulator has set up a working group to look at rationalising exclusions under health plans
Insurance Regulatory and Development Authority of India (IRDAI) is looking to minimise the exclusions under health insurance policies. The regulator has set up a ten-member working group to look at rationalising the exclusions that are prevalent in policies.
The group, headed by Executive Director-Health at IRDAI, has representations from the industry as well as third-party administrators. It will submit its report in eight weeks.
“It is desired that the industry adopts a uniform approach while incorporating the ‘exclusions’ as part of product design as well as for the wording of the exclusions,” said IRDAI.
The committee will also look at rationalisation of the exclusions that disallow coverage with respect to new modalities of treatments and technologically advanced medical treatments.
The working group will also identify the type of exclusions which will not be allowed.
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