Mumbai, August 17: Insurance regulator IRDAI on Thursday has issued circular directing insurers to cover mental health care because till now none of India’s insurers has introduced a product that covers ailments such as depression, schizophrenia, and bipolar disorder. The Times of India report mentions that, according to the Mental Healthcare Act, 2017, which came into effect from May 29, it is now mandatory to provide for 'medical insurance for treatment for mental illness on the same basis as is available for treatment of physical illness'. In our society, there is a major stigma attached to mental illness, and it remains a major concern as the number of people affected with mental disease is increasing every day. The insurance regulatory body has thus asked insurers to immediately comply with the new mental health law.

Dr Soumitra Pathare, psychiatrist and director at the Pune-based Indian Law Society’s Centre for Mental Health Law and Policy, as quoted in the report said, “It is extremely inhuman to discriminate people in this fashion. Today, no one can say we won’t cover cancer, tuberculosis or heart attack. So why do we have this block towards covering mental health issues? They are just as debilitating and corrosive to a person’s well-being as physical ailments.”

Companies those who will include mental health coverage will have to file a fresh product with the IRDAI or add this to an existing product and file again. 'How To Cope With Depression' Post of The Health Ministry Irks Doctors: Here's What It Gets Wrong (And Right) About Mental Health Problems

ICICI Lombard General Insurance chief actuarial officer Sanjay Datta quoted in the report said it is a question of actuarial and financial risk. “It is uncharted territory. There are two coverages needed: First, OPD cover for therapy, consultation and drugs. Second, hospitalisation or rehab, which would be long-term and expensive. In western countries, both are covered. But in India, it is untested ground,” he said.

(The above story first appeared on LatestLY on Aug 17, 2018 11:28 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).