Money & Banking

Black fungus fully covered under health covers: Star Health MD

Surabhi Mumbai | Updated on June 14, 2021

Mucormycosis has emerged as one of the significant complications of Covid-19   -  PTI

Insurance has to pay for any infection, bet it viral, bacterial or fungal and such claims have to be fully approved by all insurance companies and all policies, Says S Prakash

Claims for black fungus or mucormycosis are fully covered under health insurance covers, said S Prakash, Managing Director, Star Health and Allied Insurance.

“Black fungus has to be 100 per cent settled by insurance. Insurance has to pay for any infection, bet it viral, bacterial or fungal and such claims have to be fully approved by all insurance companies and all policies,” Prakash said, adding that the insurer is honouring all such claims.

Mucormycosis has emerged as one of the significant complications of Covid-19, although it happens in other cases too.

The medical costs for treating the disease are high and there is also need for prolonged hospitalisation.

Also read: Indians already ravaged by virus now slammed with medical debt

Prakash said, insurers are now trying to track Covid-19 complications based on the International Classification of Disease or ICD code.

“We have created a separate ICD code, WHO has also given an ICD code for Covid complications. With this, we should be able to track more and more complications related to Covid in days to come,” he told BusinessLine in an interaction.

The standalone health insurer has incurred Covid related claims of ₹1,530 crore in 2020-21 and worth ₹990 crore this fiscal.

Rising demand

Prakash said that the demand for health insurance is increasing but families now prefer to take a comprehensive cover rather than opt for the Covid specific Corona Rakshak or Corona Kavach policies.

“Star Health is still offering Corona Rakshak and Corona Kavach policies. But these were designed with the expectation that the pandemic would be contained in a few months. Now people are preferring to buy a standard mediclaim cover, as they feel that short term covers are not enough or really meaningful,” he said.

The average sum insured for families has also increased to ₹5 lakh, he noted.

He also said the insurer is not differentiating amongst customers who have had Covid-19 for medical insurance policies.

“Star is not imposing any specific guidelines for people who have recovered from Covid-19. No questions are being asked, they will be considered like any common person without exclusions or loading of premium,” he said.

Published on June 14, 2021

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