Ayurveda, Unani, Siddha units to gain as insurers planning to include ISM under insurance cover

The medicines from Indian streams like Ayurveda, Unani, and Siddha and the treatment under these systems are likely to be included under the medical insurance schemes on par with allopathy system,  following a request from the Department of Ayush in this regard. The General Insurance Council, the apex body of the insurance companies, has set up a panel to study the matter and the  subcommittee had already held discussions. It may soon recommend  the inclusion of Indian System of Medicines (ISM) in the insurance schemes, it is learnt. The sub-committee, comprising chief executive officers from Star  Health, Max Bupa and Apollo, is examining the merits and demerits of the proposal. The recommendation of the Council will then be  submitted to the Insurance Regulatory and Development Authority for the final clearance, sources said. Though a large section of the population goes for alternative systems which are comparatively cheaper, the insurance companies often were not interested in extending the benefits as there are not established ways to verify the claims. The lack of official body to recognise institutes and hospitals under the traditional systems of medicines also complicated issue. However, the Department of Ayush had asked the General Insurance Council to look into the possibility of including the non-allopathic means of treatment for accepting claims under health insurance. It also made a detailed presentation  before the Council recently, prompting the latter to consider the issue favourably. The Health and Family Welfare Ministry has been pushing for  the wider acceptance and promotion of Indian systems of medicine which are considered to be more affordable for larger sections  of the people. The inclusion of the same under the medical insurance schemes is expected to give a major fillip to both  the practitioners and the huge number of manufacturing and  marketing units in the sector. Source:Pharmabiz