Left Menu
Development News Edition

Health insurance policy packages may soon offer vouchers for gym membership, protein supplements

Health insurance policy packages may soon offer vouchers for gym membership, protein supplements
Image Credit: Flickr

Health insurance holders may soon get vouchers for a yoga centre, gymnasium memberships and even for buying protein supplements, with regulator Irdai proposing new guidelines to promote wellness among people. In its 'Exposure Draft on Guidelines on Wellness and Preventive Features/Benefits', the watchdog said policyholders can be offered health-specific services by network providers or other empanelled hospitals for outpatient consultations or treatments, pharmaceuticals, health check-ups and diagnostics.

"Based on fitness and wellness criteria stipulated and disclosed, insurers may endeavour to promote wellness amongst health insurance policyholders," it said. According to Irdai, this can be done by offering outpatient consultations or treatments, health check-ups and diagnostics, redeemable vouchers to obtain protein supplements, and discount vouchers for membership in yoga centres or gymnasiums for participating in fitness activities.

The guidelines would specify the rewards that can be offered as wellness benefits in the health insurance products and the manner in which those benefits can be utilised would be mentioned in the policy contract, as per the draft. In this regard, there would be changes to wellness features and benefits under the Insurance Act 1938.

As per the draft, policyholders can be provided with redeemable vouchers to obtain protein supplements and other consumable health boosters and supplements, and for membership in yoga centres or gymnasiums for participating in fitness activities as part of their health insurance policy. Also, discounts can be offered on premiums and/or increase in sum insured at the time of renewals based on wellness regime followed by policyholders in the preceding policy period, the Insurance Regulatory and Development Authority of India (Irdai) said.

The draft said the costs towards the wellness services should be factored into for the pricing of the underlying health insurance product and the cost factored should be disclosed in all insurance advertisements wherever wellness features are disclosed and promoted. "No wellness feature/benefit shall be offered without it being filed or incorporated as part of the product in terms of the Product Filing Guidelines," it added.

Further, the regulator said there should not be any discrimination in providing any of the wellness features/ benefits offered to the same or similarly placed categories of policyholders of the underlying health insurance product. "Every insurer shall assess the pricing impact of wellness and preventive features offered, if any, and the same shall be disclosed upfront in the File and Use or Use and File application, as may be the case, prescribed in the Product Filing Guidelines or applicable File and Use norms," Irdai said.

Comments on the draft guidelines have been sought till November 18.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



Hyderabad Encounter: A sentiment analysis of public mood on day of encounter

Sentiment analysis of twitter users revealed that they showered salutes on Hyderabad police for eliminating alleged gang rapists of the veterinary doctor but only a few believe in cops version of successive events leading to encounter....

Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....


Latest News

Huawei's CFO wins Canada court fight to see more documents related to her arrest

Lawyers for Huaweis chief financial officer won a court battle when a judge asked Canadas attorney general to hand over more evidence and documents relating to the arrest of Meng Wanzhou. However, the Supreme Court of British Columbia cauti...

UK reports bird flu for first time 2017

Britains government said bird flu had been confirmed at a chicken farm in eastern England on Tuesday, the first such report since June 2017.Some 27,000 birds at the farm would be slaughtered following the discovery of the H5 strain, which t...

Facebook under fire as political ads vanish from archive - FT

Thousands of political ads have gone missing from Facebook Incs public archive less than 48 hours before the British general election, the Financial Times reported on Tuesday. The report added that on Dec. 5, the social media ad library sho...

Musician Sting lauded for work to defend the Amazon as death toll rises

British musician Sting was awarded an international prize on Tuesday for his work to protect the Amazon rainforest and its indigenous inhabitants where a battle over land is becoming more deadly with a spate of killings in recent days.The G...

Give Feedback