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How COVID-19 Reshaped The Health Insurance Sector?

Published On Feb 03, 2022 10:00 AM By InsuranceDekho

COVID-19 has caused a scarcity of tests, equipment, and personal protective equipment (PPE), as well as a great deal of stress on healthcare practitioners and the delivery system—and the consequences for patients, providers, and payers will linger for years. This crisis in the health insurance business can act as a catalyst, with the lessons learned serving as a model for a large and, preferably, speedy restructuring of the industry.

The COVID-19 epidemic has taught us all to adapt to difficult situations. To escape the epidemic, people all around the world have been compelled to adjust their habits and practice social isolation. But it isn't simply the individuals who have changed their ways of life. The health-insurance market has also undergone significant adjustments in response to the pandemic's concerns. The goal is to keep providing health insurance to the general people without jeopardizing their protection against the coronavirus. Having stated that, this essay focuses on six major developments brought on by the COVID-19 pandemic that have had a direct influence on the health insurance business. To understand more on how COVID-19 reshaped the health sector, read on.

How COVID-19 Reshaped The Health Insurance Sector?

How Did COVID-19 Reshape The Health Sector?

Following are the factors through which COVID-19 reshaped the health sector -

1. Availability of Health insurance coverage for coronavirus - The COVID-19 pandemic opened the path for coronavirus-specific health insurance. Under the guidance of the IRDA, health insurers in India created two such plans, the Corona Rakshak and Corona Kavach policies. This insurance cover any medical costs incurred as a result of contracting COVID-19. Unlike conventional health insurance plans, both the Corona Rakshak and Corona Kavach policies cover the cost of consumables such as personal protective equipment (PPE), masks, gloves, and other items required during coronavirus treatment. In reality, the Corona Kavach policy includes coverage for comorbidities-related medical bills. The short-term coronavirus health insurance policies are offered for 3.5, 6.5, and 9.5 months. The Insurance Regulator has permitted insurers to extend these policies until March 31, 2021. Furthermore, it enables policyholders to transfer their Corona Kavach insurance to any other indemnity-based health plan.

2. Telemedicine coverage is available now - Health insurance policies have finally begun to cover medical expenditures incurred through telemedicine, which is a welcome improvement. For the uninitiated, telemedicine refers to medical consultations conducted over the phone, chat messaging, video chats, and other means in which the patient is not required to meet the doctor in person. Telemedicine consultations are typically not covered by health insurance. The COVID-19 epidemic, on the other hand, resulted in a lockdown and social isolation, compelling individuals to seek out off-site medical consultations rather than going to the doctor. As the number of individuals using telemedicine increased, the IRDA required health insurers to include the expense of telemedicine in plans that cover doctor consultations.

3. Premiums for health insurance can be paid in installments now - The epidemic of COVID-19 has also resulted in the development of a payment plan for health insurance premiums. The epidemic has had a negative impact on global economies, particularly India's. A large portion of the country's population has suffered a financial setback, with many losing their source of income. The IRDA developed an installment mechanism for paying health insurance premiums, recognizing the financial hardship that many individuals are experiencing. This approach not only makes health insurance more inexpensive at a time when it is most needed, but it also allows consumers to choose a bigger sum insured that best meets their requirements.


The epidemic of COVID-19 has wreaked havoc on everyone's lives. However, it has resulted in significant reforms in the health insurance business, which have benefited the general people. For starters, coronavirus health insurance policies have enabled consumers to pay the medical costs associated with COVID-19 sickness. Furthermore, anyone may purchase a Corona Rakshak, Corona Kavach, or other health plans online without having to sign anything and pay the premiums in installments. These reforms should, hopefully, enhance the uptake of health insurance in India.

Also Read:- Preventive Measures To Take To Safe From Omicron Variant

Key Terms Used In Health Insurance Policy

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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