All You Need to Know About Senior Citizen Health Insurance Policy

Senior Citizen Health Insurance Policy

Considering the rapid increase of medical inflation in India, it has become extremely important for every individual to buy adequate health insurance plans for their loved ones and especially for elderly parents. With the increase in age, people are more prone to prolonged medical conditions and ailments. This can result in huge medical bills. With a senior citizen health insurance policy all the medical expenses are covered extensively, securing the financial future of the family.

Further in this article, we have discussed elaborately everything you need to know about senior citizen health insurance policy.

Why Are Health Insurance for Senior Citizens Required?

An individual must buy health insurance even if they have a group health insurance policy from the employer that provides coverage for parents. This is because a group mediclaim policy might not be sufficient to cover the health risk of the whole family including the parents. Thus, with a senior citizen health insurance policy one can provide the right coverage to their parents. Let’s read further why one needs to have health insurance for parents.

Meet the Increasing Cost of Healthcare

Comprehensive health insurance is important for senior citizens and other family members to meet the cost of medical treatment and healthcare. As elderly people are more vulnerable to prolonged illnesses, with the senior citizen health insurance plan all the costs related to medical treatment and healthcare will be taken care of.

Critical Illness Cover

With age, a person becomes more prone to critical illnesses like kidney problems, heart disease, cancer, etc. The health insurance plan for senior citizens offers critical illness cover as an add-on benefit for people above the age of 60 years.

Annual Health Check-up Facility

Senior citizens can avail the facility of free health check-ups on a yearly basis as they require to undergo medical screening regularly. Thus, this facility can help to decrease the expenses incurred on the same.

Peace of Mind

Paying hospital bills now and then can be very stressful for senior citizens, specifically with the increasing cost of medical treatment for both major and minor diseases. With a health insurance policy, one can be at peace that all their financial burden will be taken care of in case of any medical emergency.

What is Included in the Senior Citizen Health Insurance Plan?

Various benefits are covered under a senior citizen health insurance plan. Let’s take a look at it:

Daycare Treatments

Specific daycare treatments like dialysis, chemotherapy, cataract, etc require hospitalization for less than 24 hours are covered under the policy.

Hospital Expense Cover

Hospitalization costs such as nursing, room charge, doctor’s fees, ICU charges, medicine costs, fees charged by medical practitioners, anesthetists, surgeons, consultants and specialists are all covered under a health insurance policy. Moreover, the cost of blood anesthesia, surgical appliances, operation thereafter charges, medicines are also covered under the policy.

Other Medical Expenses

The other medical expenses that are covered under the senior citizen health insurance policy are dialysis, radiotherapy, chemotherapy, orthopedic implants, artificial limbs, vascular stents, pacemaker, etc.

Organ Donor Expenses

Most senior citizen health insurance plans cover organ donor expenses.

Pre and Post Hospitalization Cost

The pre and post-hospitalization expenses incurred for a specific number of days are covered under a mediclaim policy for senior citizens.

Pre-existing Diseases

As per the terms and conditions of the policy, pre-existing illnesses are covered under the policy.

Domiciliary Hospitalization

In case the doctor suggests home treatment then the policy also covers domiciliary hospitalization expenses.

Ayush Treatment Cost

The senior citizen health insurance plan also covers Ayush treatment costs taken in recognized government hospitals and institutes.

What is Not Covered in a Senior Citizen Health Insurance Policy?

Even though most of the health hazards are covered under a health insurance policy, there are times when the insurer denies the claim filed by the insured. Here are some of the common exclusions under senior citizen health insurance policy.

  • The expense incurred due to self-inflicted injuries
  • Pre-existing diseases or injuries are not covered
  • Expense arising from drug abuse and related treatment
  • The expense related to non-allopathic treatment
  • In case of more than one medical condition diagnosed within 30 days from the date of policy initiation
  • Cosmetic surgery is not covered under the policy
  • AIDS treatment cost is excluded as well

Claim Settlement Process for Senior Citizen Health Insurance

The policyholder can file a claim for senior citizen health insurance in case of hospitalization or emergency medical treatment. Once the claim is filed they can either avail cashless treatment at the network hospital or can get reimbursement of expenses incurred on the treatment. To file a claim the policyholder must inform the insurance company within 24 hours of hospitalization.

Wrapping it Up!

With an extensive range of policies available in the market choosing the right plan can be a daunting task. However, at Paytm you can check the details of various health insurance plans offered by different insurers and choose the most beneficial plan as per your requirement. So, make sure you secure the future of your parents with a senior citizen health insurance policy.

Can parents be covered in the existing health insurance policy?
Yes, if the existing health insurance policy is a family floater plan then parents can be covered in the existing plan. However, make sure to check the age criteria before including parents in the same plan.
Can I enhance the insurance coverage for my parents?
To enhance parents’ health insurance coverage, the policyholder can opt for a higher sum insured amount at the time of policy renewal. Moreover, one can also opt for a critical illness rider to increase the coverage of the policy.
Is there any age limit while purchasing health insurance for parents?
Yes, every health insurance policy comes with a certain age limit. Make sure to check the age criteria of the plan before making an informed decision.
Is it mandatory to have a medical test before purchasing health insurance for elderly people?
Yes, it is mandatory to have medical tests for senior citizens.
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