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Guide To Buy Health Insurance For Senior Citizens

Updated On May 02, 2021

With the medical inflation in India and the increasing danger of COVID-19, a health insurance policy with an adequate amount assured is a must-have for all. It is especially important if you have elderly parents at home. People become more vulnerable to different diseases as they age, and they will need to visit the hospital more often. And if your parents are protected by your employer's group health insurance scheme, it is preferable to purchase your own.

Guide To Buy Health Insurance For Senior Citizens

Guide To Buy Health Insurance For Senior Citizens

The Benefits Of Purchasing A Senior Citizen Mediclaim Policy

  • Cashless services are available at various hospitals across India that are part of the insurer's network.
  • Expenses for in-home hospitalisation are covered.
  • 15-day free trial duration
  • Annual health examinations are given at no cost.
  • The tax advantages of the premium charged for the policy
  • Policy renewal

Now that you've learned about the advantages of senior health insurance, it's time to learn how to purchase a policy for the seniors.

  1. Hospitalization Costs Are Covered To The Greatest Extent Possible.

    Both health insurance plans cover in-patient medical costs by default, which ensures the insurer will pay for any expenses you might incur while in the hospital. The following expenses are covered: doctor appointment fees, medications, diagnostic tests, and so on. Some senior citizen health insurance plans can have a sub-limit for specific expenditures. Some plans that cover in-patient hospital costs, for example, may have a cap on doctor appointment fees or a limit on bed charges. Senior citizens also need longer stays in hospitals. As a result, it's important that you find a senior citizen health care plan that covers all of your hospitalisation costs.
  2. Be Aware Of The Restrictions On Post-Hospitalization Coverage

    In most cases, insurance providers reimburse policyholders for losses incurred when they are released from the hospital. Postoperative care, follow-up check-ups, diagnostic examinations, chemotherapy, dialysis, and other costs are included. You may be eligible for reimbursement for expenditures incurred up to 90 days after discharge, depending on the type of policy you have. However, several insurance providers have post-hospitalization coverage of 7 to 10% of the claim sum. You should read the agreement terms before signing the papers and choose a policy that covers 100 percent of the post-hospitalization expenses.
  3. Check Whether Domiciliary Treatment Is Included

    Geriatricians may recommend that elderly patients be treated at home if they are unable to travel or if the treatment needs specialised and long-term care.
    Insurance providers pay the costs of home care, such as medications, doctor's appointment fees, nurse fees, and so on, through this programme. Since this type of treatment is popular among the elderly, you can look for senior health insurance that includes domiciliary care.
  4. Look For An Insurance Package That Includes AYUSH Care

    AYUSH is an acronym for Yoga, Unani, Siddha, and Homeopathy. Many elderly people would rather pursue alternative therapy than use allopathic medicine. If your parents want AYUSH medication, it is best to purchase a healthcare package that includes this service. This feature is often sold as an add-on, and it is prudent to buy it to ensure full coverage in the event of a medical emergency.
  5. Understand the Exclusions

    It's just as critical to understand the policy's inclusions as it is to understand the policy's exclusions. Cosmetic surgery, dental care, illnesses diagnosed within 30 days of purchasing the policy, treatment costs for STDs, AIDS, and other expenses are not covered by senior health insurance.

Take Away

There are a number of factors to consider when purchasing health insurance for your parents to ensure a smooth transaction. Most policies have an entry age restriction, and if the restriction is violated, the policy seeker will be unable to purchase the policy. Check the entry age before purchasing a policy. Often, choose a package for your parents that provides comprehensive coverage for critical illnesses and pre-existing conditions. You should search for a health plan from an insurer that specializes in products for elderly parents.

Must Check:- Tips for Senior Citizens to Stay Healthy During Coronavirus Lockdown

Best Senior Citizen Health Insurance Plans in India

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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