IVF or other fertility treatments are often spotted in the exclusion list of insurance companies; exclusion list is a list comprising of specific diseases that are not covered under the particular healthcare plan of an insurance provider.
In spite of the current insurance policy, there are various insurance companies or providers thinking of including IVF or other fertility treatment charges into their healthcare plan.
The reason behind contemplating such possibility is to protect the interest of the person choosing to undergo a fertility treatment, and placing a sub limit on the expenses of the treatment in order to avoid the financial exploitation of the insured person.
Most of the insurance companies do not provide coverage for infertility treatment and other related procedures in their health plans. IVF is a famous infertility treatment that enables a couple to become parents who encounter difficulty in conceiving by natural process.
Infertility is a widespread issue that has inflicted over 30 million people in India. It is a condition that impairs the ability of a couple to produce their own offspring via natural method of conceiving.
Undergoing a single IVF treatment cycle amounts to INR 1,50,000. The amount may not seem heavy when taking the first IVF cycle, but often the patient has to undergo more than a single cycle before finally achieving pregnancy, which means the patient has to incur substantial charges to receive desired results.
Owing to the uncertainty of the fertility treatment process, insurance undertakings are considering putting a cap on the IVF expenses by making it a part of their healthcare plan.
“IVF is a planned event and there is reluctance to cover it, however, it is likely to be part of the highsum-insured premium policies,” said Sanjay Datta, head of underwriting, ICICI Lombard.
As a stepping towards fertility treatments coverage, the insurance plan of IVF will clearly enunciate the exact number of performing the process of embryo transfer, and will attempt to provide coverage to the additional IVF cycles in case the first cycle proved to be futile. IVF will be added as component in healthcare plans that cover maternity services, new-born care services, outpatient care, pediatric services, etc.
Nikhil Apte, Chief Product Officer, Royal Sundaram General Insurance, stated, “We are looking to include IVF treatment in the health plans and to avoid frauds we will go for people who have been with us for six years, include sublimit and link it to maternity cover,”