IRDA catches up to common sense

Late last month, the insurance regulator, IRDA, came out with the updated master circular on health insurance. The headline news of the circular was that there would no longer be any age cap on getting health insurance. There's actually more. The gist of the new points is this: insurers are required to provide a range of products, add-ons, and riders to offer wider choices to policyholders and prospects. These offerings must cater to all ages, all types of existing medical conditions, pre-existing diseases, and chronic conditions. They should also encompass all systems of medicine and treatments, including Allopathy, AYUSH, and others. They must address every treatment situation, including domiciliary hospitalisation, outpatient treatment (OPD), daycare, and home care. The range of products should be available in all regions and for all occupational categories, persons with disabilities, and other categories. Additionally, all types of hospitals and healthcare providers should be included to suit the affordability of policyholders and prospects, ensuring that coverage is not denied in emergency situations. It also says that insurers must provide support for new medical technologies and lists a bunch of such technologies.