Concern Over COVID Procedure Rates

The General Insurance Council (GIC) has recently come out with rate chart for COVID-19 treatment, taking into account rates published by various state governments, after discussion with experts. The council has made it clear that the reference rates are variable and will be revisited every month. Insurance companies shall be guided by the treatment protocols prescribed by ICMR. These rates are broadly based on the schedule of rates suggested for COVID-19 treatment by Niti Ayog panel. These rates will be applicable to both cashless and reimbursement claims in states/ union territories/ cities where any government authority has not published standard charges for COVID-19 treatment. Wherever, treatment charges have been published by any authority, those charges shall be applicable to insurance claims with member companies. The settlement under COVID-19 insurance claims shall be subject to...