‘Insurance cos should cover latest treatments in medicine’

CHENNAI: Health experts from across the country discussed the need for awareness on modern advancements in the medical sector among insurance companies at the FICCI conclave held recently in the city.

They said that better understanding can help them innovate the Health Cover that pays for the cost required for treatments related to cancer, transplantations, and other treatments.

FICCI Tamil Nadu State Council invited senior specialists and doctors in the field of oncology, along with insurance experts, to discuss and make treatments easily available through healthcare financing.

Dr S Prakash, convenor, FICCI Tamil Nadu Insurance Panel & MD, Star Health and Allied Insurance, said, “Common man should be aware of the Critical Illness Cover which is offered for heart, cancer or transplant. This cover requires proof of diagnosis for the insurance payment of the lump sum amount to the insured. This is very beneficial in times of medical emergencies. By 2028, the health insurance premium is expected to be 3.5 lakh crore.”

Doctors added that awareness of medical innovations and advancements, and the value addition of such innovations to health, the cost involved and the role of insurance in supporting the patients is significant.

Dr S Subramanian, senior medical oncologist, CMD-VS Group of Hospital, said, “Genome testing is an advanced methodology that has been instrumental in early detection and successful treatment. It’s welcome news that such advanced therapy can be covered by health insurance. However, there is presently no coverage for oral drugs, if introduced this will be a welcome boon to patients.”