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Does Health Insurance Cover Psychological Disorders?

Published On Apr 05, 2021, Updated On May 10, 2021

Mental health and psychological disorders have always remained an integral part of our well being and affects the way we react to and handle stress, decisions and life choices. Talking about mental health is still stigmatized and earlier, there was no proper health insurance policy for mental disorders. However, the pandemic of Covid-19 has forced us to think beyond the box as cases of depression and anxiety soared, in addition to Covid infections and in this article, we are going to have a discussion of whether health insurance covers psychological illnesses or not.

Does Health Insurance Cover Psychological Disorders?

Does Health Insurance Cover Psychological Disorders?

After much debate and discussion, health insurance companies have started to offer health insurance plans for mental illnesses covering the costs of treatment and any physical or behavioral shortcoming that might arise from the same. In India, insurance coverage for psychological disorders is mandated by law. The IRDA has argued in favour of covering health insurance under insurance policies and it is supported by the Mental Health Act, 2017, ensuring the equal treatment of mental health, at par with physical illnesses. Health insurance plans now incorporate the costs of diagnosis, consultation, medicine and treatment of psychological disorders as part of this mandate.

The following points will help you to better understand the different benefits of a health insurance plan for psychological disorders.

Benefits Of Health Insurance For Psychological Disorders

  • Mandated By Law

One of the chief benefits of health insurance for psychological disorders is that it is mandated by law. Health insurance companies can no longer refuse to include mental diseases as part of their coverage. Neither can they deny the costs associated with the diagnosis, consultation and treatment of mental diseases. As a policyholder, you are protected and guaranteed by law to receive full compensation in case you suffer from a psychological disorder.

  • Impressive Coverage

Health insurance policies for psychological disorders come with a handsome sum assured amount. Expenses such as pre and post hospitalization charges, diagnosis, tests, treatment and recovery are all covered. In some cases, the policyholder can also avail a cashless claim benefit and it is augmented by extending coverage to people who show signs of a disorderly mood, perception, memory and poor decision making capacities.

  • Applicable To Existing Plans

Another attractive benefit is the fact that it can be applied to your existing health insurance plan. While the capacity of extending or incorporating other health coverages in an insurance policy is comparatively complex, health insurance plans that cover mental disorders can be fused with your existing plan structure without any kind of formality.

  • Covers Wide Range Of Psychological Disorders

Insurance plans for psychological disorders are impressive in addressing and providing financial help for a wide range of disorders such as Bipolar Disorder, Schizophrenia, Anxiety Disorder, Alzheimer’s Disease and Dementia. These diseases affect the everyday lives of individuals and interfere with the normal consciousness of the human brain. The coverage and financial help for regular tests, therapy and treatment of such illnesses is a significant benefit for a person requiring intense medical attention.

Take Away

You are now aware that health insurance plans do cover psychological disorders and there is no need to shy away from asking medical or financial help if you or a loved one is diagnosed with any kind of mental disease. In India, several reputed health insurance companies offer insurance plans for psychological disorders and you can choose the one best suited to your financial and medical needs for promised coverage and protection.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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