Is Omicron Included In A Health Insurance Policy?
Published On Feb 04, 2022 11:00 AM By InsuranceDekho
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The rising number of COVID-19 infections in South Africa has generated worldwide concern. A new coronavirus variant named Omicron is likely to be responsible for the large increase in cases. This calls into question the efficacy of COVID-19 vaccines against the new omicron strain. While the omicron virus has spread to over 150 countries, efforts are still being made throughout the world to contain the spread of this apparently highly dangerous coronavirus type.
Coronaviruses have found novel ways to contaminate both host and neighbouring species. Although we do not yet have enough information on Omicron to make exact estimates about its unique character, we do know enough about it to comprehend its immense significance. Omicron is sending a clear message to the rest of the world, proving that this virus is capable of far more changes and variety than most people think. To understand and know more about the coverage of omicron virus in a health insurance policy, read on.
What Exactly Is The Omicron Virus?
This substantially altered COVID version is expected to be more infectious than the Delta variant because it has more than double as many mutations. COVID-19 cases in South Africa have increased fourfold in the preceding two weeks as a result of the new omicron virus. On November 26, 2021, the World Health Organization (WHO) identified 'omicron' as a coronavirus variant of concern.
Omicron symptoms, apart from scratchy throat and rapid exhaustion, are similar to those of other coronavirus variants, irrespective of the patient's age. Furthermore, those affected with the omicron virus do not lose their sense of taste or smell. Furthermore, while there was no evidence of a substantial drop in oxygen saturation levels, majority omicron COVID positive people recovered without the need for hospitalisation.
What Is The Coverage Of Omicron Virus In A Health Insurance Policy?
The costs of therapy related to being diagnosed with the omicron COVID subtype of coronavirus are covered by insurance. If the insured is determined to be infected with the omicron virus, it refers to a coronavirus health insurance plan that compensates for expenses incurred while hospitalisation or home treatment. Despite the fact that omicron is a COVID variant, all Indian health insurance policies cover it in the same manner as coronavirus does.
Once the initial waiting period has passed, a health insurance policy for the omicron variant provides the policyholder with comprehensive coverage. Also, because coronavirus is not a pre-existing illness, it will cover the cost of omicron virus treatment immediately now.
Is the Omicron Virus covered by our current health insurance policy?
Yes. Since the omicron virus is a coronavirus variant rather than a new ailment, many existing Indian health insurance coverage would cover treatment expenses. COVID-19 is a contagious disease, hence the Insurance Regulatory and Development Authority of India (IRDAI) has mandated that all existing health insurance policies cover it, regardless of its kind. As an outcome, all COVID-19-covered insurance would cover the treatment costs for the omicron version.
If a person obtains health insurance before even being tested for the omicron virus, the insurer will pay all of the costs associated with treatment. If an individual does not have health insurance and then purchases this after testing positive for the omicron variant, however, his or her coverage would not cover the cost of treatment.
Furthermore, there are no extra waiting periods for payment of omicron treatment costs under current health insurance coverage. However, if a person is diagnosed with the omicron strain of coronavirus within the initial waiting period of their health insurance plan, their medical expenses for treatments will not be paid.
Health insurance functions similarly to an emergency loan. If you have a terrible credit score, you won't be able to receive a loan, and if you've been diagnosed with a dangerous sickness and need health insurance, you'll find it impossible to get one. This is due to the fact that insurers are not obligated to provide you with coverage. They are for-profit businesses, so if you are too dangerous for them to insure, they may reject your proposal outright - or provide you with coverage with a lot of limitations and high rates.
Also read- Preventive Measures To Take To Safe From Omicron Variant
Will Health Insurance Policies Cover Omicron Variant?
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.