Insurers To Give 5% Discount On 'Corona Kavach' Policy Premium To Health Workers

On 14 July, the Insurance Regulatory and Development Authority of India (IRDAI) asked insurers to give 5 percent discount on 'Corona Kavach' premium to doctors and health workers, and ensure that hospitals do not deny cashless treatment to insured persons in conformity with the terms of the policy.

As per the regulator's mandate, all the 30 general and health insurers that offer indemnity based health insurance have started offering individual COVID-specific Standard Health Policy called "Corona Kavach".

"As a gesture of acknowledgement of the contribution of healthcare sector in the nation's fight with COVID-19, the insurance companies will provide a 5 percent discount in premium of 'Corona Kavach' to doctors, nurses and other healthcare workers...," IRDAI said in a release.

In another statement, Irdai said it is aware of reports that some hospitals are not granting cashless facility for treatment of COVID-19 despite such arrangements with the insurers.

The regulator further said it has also been brought to the notice of the authority that some of these hospitals are also demanding cash deposits from the policyholders.

Therefore, it is clarified that the policyholders are entitled to a cashless facility at all network providers (hospitals) with whom the insurance company/TPA has entered into an agreement in accordance to the norms of service level agreements (SLA), it said.