ManipalCigna Health Insurance on Monday said it has waived the mandatory co-payment clause for senior citizens aged 65 years and above, if they need treatment for coronavirus.
The mandatory co-payment refers to an arrangement in which the policyholder will need to pay a portion of the medical expenses on their own and the insurance company will pay the remaining amount.
The scheme is applicable for the customers of ProHealth Insurance plans who have an obligation of mandatory co-payment benefit and policy is issued on or before April 30, 2020, a release said.
"The unexpected expense for COVID-19 treatment can jeopardise a family's financial security, thus we have taken this early action to give our customers greater peace of mind in these trying times and to help them focus their energies on fighting the virus and not on their medical bills," the company's managing director and CEO Prasun Sikdar said in the release.
The customers of the company can avail co-payment waiver benefit for the claims arising due to COVID-19 treatment, until August 31, 2020.
ManipalCigna Health Insurance is a joint venture between Manipal Group, US based global health service leader Cigna Corporation and Indian conglomerate TTK Group.
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