Notification in this regard to be issued soon
Insurance coverage will now be available for ayurveda, yoga, unani, siddha and homoeopathy treatments. The Ayush department, which recently held a meeting with industry representatives and insurance service providers, will soon be issuing a notification to this effect.
The insurance sector has approved the Ayush information document, which includes Ayush system-wise index of diseases requiring hospitalisation, indicated therapies/ treatment procedures and average treatment rates for insurance coverage.
The sector was represented by the insurance regulatory and development authority of India (Irdai), Oriental Insurance, United India Insurance, Bajaj Allianz General Insurance and Apollo Munich Health Insurance.
The document has been prepared in consultation with the representatives of the insurance sector, Ayush research councils and hospitals. The document explicitly mentions the specific therapies and treatment procedures, along with average period of hospitalisation and rates, for the diseases that need to be treated on the indoor basis. The rates are to be considered as benchmark rates based on which the insurance companies may develop customised products/ insurance policies.
The rates mentioned in the document may be treated as average benchmark rates and the rates for treatment in the Ayush hospitals located in the metro cities may be fixed at 25 per cent more than these average benchmark rates.
During the meeting, suggestion was made to set up a central panel of experts that could be consulted by the insurance companies in settling the insurance claims of Ayush treatments and related matters.
“Though the cost of Ayush treatments is lower than that of allopathy, they were not being covered by insurance due to lack of standardised treatment protocols. We have compiled a list of diseases that can be covered by the insurance sector, along with the treatment procedures and their average cost. This will be beneficial for the insurance companies in introducing products for Ayush,” said D Induchoodan, convener, treatment standardisation committee, the ayurveda hospital managements association