Health Insurance: IRDAI to Change Major Health Insurance Rules in 2024

Health Insurance:  The Insurance Regulatory and Development Authority of India (IRDAI) has mandated that individuals insured for health insurance policies should get a Customer Information Sheet (CIS). This move came after the IRDAI received many complaints about the lack of information and gaps between the insured and the insurance firm.

Implementation of New Health Insurance Changes

According to IRDAI, on the customer service information sheet, the insured must provide all relevant health insurance information in very basic language, such as the kind of policy, the waiting time, and coverage details. In addition, information on how to file a claim and contact information must be provided to the insured in very basic language, and all of this information must be included on the CIS sheet. According to IRDAI, this will help in reducing disagreements and ensure that claims are resolved as fast as possible. This significant change will take effect on January 1, 2024.