"Insurers are requested to confirm compliance before October 31, 2022," IRDA announced in a circular released on Tuesday.
The circular released by IRDA confirms that insurance plans can cover mental illnesses and comply with the Mental Healthcare Act 2017 without any exemptions. The Act was in effect from May 5, 2018. The Act stipulates that all insurers must provide medical insurance for treating mental disorders in the same way as they do for physical ailments.
The regulator for insurance, in August 2018, ordered every insurance company to adhere to the rules in the Mental Healthcare Act immediately. "Insurers are requested to confirm compliance before October 31, 2022," IRDA declared in a circular released on Tuesday.