Ever since Vibha was young, her family followed traditional Indian medicine. Be it cough, cold or general illness, Vibha’s parents trusted Homeopathy. Now, with the roles reversed, it is Vibha who is taking care of her parents. Recently, when her father required hospitalisation, Vibha was worried that despite health insurance coverage, her father’s treatment in a homoeopathic hospital would not be covered. To Vibha’s surprise, she realised that, like allopathic treatments, various alternate treatments are also covered under health insurance plans. Vibha was relieved and did not worry anymore about the coverage.
When it comes to health insurance coverage for elderly parents, we usually believe the health insurance policy only covers allopathic medical treatments. Well, just like Vibha, it may come as a piece of good news to you that alternative medicine is also covered in health insurance.
Health Insurance and Alternative Medical Treatment in India
Like in Vibha’s case, a lot of people from Generation X and even millennials prefer alternative medicine. Considered to be more reliable and free from side effects, alternate treatments in health insurance cover Ayurveda, Yoga, Unani, Siddha, and Homeopathy. They are often called AYUSH treatments. While coverage for alternative medical treatment in India was scarcely available for some time, it was on 1st April 2020 that the Insurance Regulatory and Development Authority of India, IRDAI, mandated all health insurance companies to cover AYUSH treatments up to the sum insured.
Recently, the Madras High Court gave a verdict regarding IRDA rulings for settling the claim under AYUSH treatment. The key highlights of the verdict are as follows:
- The expenses incurred in either AYUSH treatment or allopathic treatment should be placed on an equal scale.
- The insurer will reimburse the claim for the AYUSH treatment up to the insured amount of the policy.
- The insurer will not show any discriminatory attitude toward AYUSH treatment.
- The policyholder can not be deprived of the claim if he has taken traditional medicines under a certified AYUSH practitioner.
If you are looking for health insurance coverage for elderly parents, you too can opt for a plan that allows comprehensive coverage for the same. Here’s hoping that this guide will help you with everything related to your parents’ alternate treatment health insurance coverage. Read on to also learn about the benefits of alternative medicine and how you can be eligible for its health coverage. Once you know how alternative treatment works in health insurance and how a claim can be raised, you will be able to make the most of your health insurance.
What is an Alternate Treatment?
Despite the advancement in modern technology, AYUSH or alternative medicines are considered the safest and the most effective ones by many in India. Government statistical data reveals that the AYUSH treatment sector will grow at the rate of CAGR of 8.6% (2022-27) in India. AYUSH treatments, also called alternate treatments, are not chemical-based but rely on natural substances and therapies. Therefore, they usually don’t show any side effects. On the contrary, the side effects of allopathic treatment can often outweigh its benefits.
Benefits of Alternate Treatments
Here are some of the key benefits of alternate treatments:
Physical as well as Mental well-being
AYUSH, or alternate treatment, focuses on the holistic treatment of the human body. It includes both physical and mental well-being. Natural ingredients that are used to treat the patient are effective in enhancing positivity in the patient's life along with curing his illness. This can be seen as lacking in allopathic treatment. They may not subdue negative emotions.
Lesser Side Effects
Fewer to no side effects in comparison to allopathic treatment are among the major benefits of alternative medicine. The medications are produced with the help of natural herbs and other natural ingredients. Examples of alternative medicine are Ayurvedic medicines and Homoeopathic medicine. Though the patient recovers gradually from his illness, they can eliminate the root cause of the disease.
Reduced Stress for Senior Patients
The peace of mind that parents may get out of the traditional ways of treatment is incomparable. Experts believe that when a patient believes in the treatment, it can significantly help in the recovery.
Alternative Medical Treatment in India is Cheaper
Another important stress-related factor for seniors can be the cost of treatment. If you compare the prices of AYUSH treatment with the modern allopathic treatment, you will find that AYUSH treatment is cost-effective. This is one of the biggest reasons behind parents’ great interest in AYUSH medications. Allopathic treatment can raise their stress level on account of their out-of-pocket expenses on medications, diagnostic tests, and other modern treatments.
Better Quality of Life
Alternate treatment is known to improve the quality of life. Therefore, it is popular in both rural and urban areas. These therapies are known to help individuals cope with both mental and physical disorders. Examples of alternative medicine include yoga, which is known to uplift you physically, mentally, and spiritually.
Things to Know while Investing in a Health Insurance Plan with AYUSH Coverage
Before you buy AYUSH insurance coverage for parents, you should know some essential things. Check out the following pointers and become a smart policyholder:
Know Exclusions and Inclusions
Even when buying health insurance from a trustworthy company like Care Health Insurance, you need to go through the exclusions and inclusions of the policy very well. The coverage can vary between different insurance policies. Hence, you need to know for what medical insurance benefits you are eligible under the AYUSH treatment. You must go through the AYUSH treatment’s exclusions and inclusions in the policy document.
Premium
The health insurance coverage you choose will directly affect the premium that you have to pay. You can easily calculate the premium using the health insurance premium calculator. Using this online tool will help you plan the coverage in line with your budget.
Network Hospitals
An extensive list of network of hospitals ensures immediate treatment along with cashless benefit. Make sure that you are well aware of the hospitals where you can seek the required treatment.
Let’s Conclude
Awareness of alternative medications has been on the rise. AYUSH treatment has replaced modern medical treatment in many urban and rural households. IRDA has made it mandatory for medical insurance companies to provide AYUSH coverage along with regular health insurance. When you buy comprehensive insurance coverage for parents, you not only cover your finances but also help them get the best possible health care.
Care Health Insurance has introduced Arogya Sanjeevani Health Insurance that also offer AYUSH coverage. Invest in a health insurance policy by Care Health Insurance today and give your parents the gift of guaranteed healthcare benefits.
>> Also Read: Avail AYUSH Benefits with Arogya Sanjeevani Policy
Disclaimers: All plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.
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