A LEGAL FRAMEWORK OF HEALTHCARE INSURANCE MARKET AND COVERAGE REQUIREMENTS AND ITS APPLICATION IN CONSUMER PROTECTION DURING POST COVID-19 ERA-AN ANALYSIS
Keywords:
Health Insurance, Regulatory Changes, Consumer Protection, COVID-19, IRDAI, Pandemic Policies, Policyholder RightsAbstract
India is a country where most of its people are uninsured in which only 18% of the population in the urban area and 14% in rural areas are covered in this. Even though many schemes like Ayushman Bharat havecome, but the gap was never covered. Even in life insurances, the pandemic has led to an increase in the death claim, putting pressure on the life insurers. Furthermore, it has led to decline in business premiums due to unstable economy and the mobility restriction made in hard to onboard more customers. In this paper we will be exploring the regulatory responses to the covid 19 pandemic and legal framework for consumer protection
along with economic and market implications and the future of the health insurance regulations.The COVID-19 outbreak has caused some unforeseen changes in the world-wide medical system by requiring regulatory agencies to take immediate actions to provide crucial health services. The study focuses on a retrospective look on the changes in the health insurance sector in India as a result of the pandemic, with questions addressing the legal issues of post COVID-19 health insurance coverage standard and consumer protection. The study will provide insight into the regulatory changes during the pandemic and its repercussions on various
stakeholders like policyholders, insurers, and healthcare providers.
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