Health Insurance for Senior Citizens

Health insurance policies for senior citizens offer coverage of medical expenses for people above the age of 60. These plans are specifically created to provide financial aid to senior citizens in a medical emergency. Most of these policies cover pre-existing conditions and critical illnesses.

Most senior citizens have health problems. Considering the inflation in medical expenses, it becomes imperative to have insurance to cover medical expenses, which become inevitable with age. With health insurance plans for senior citizens, one can have a happy old age without worrying about hefty hospital expenses.

Key Features of Health Insurance for Senior Citizens

Here are the features senior citizen health insurance:

Key Benefits of Medical Insurance for Senior Citizens

Here are the benefits of senior citizen health insurance:

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  Pre-existing diseases coverage

  You can avail coverage for pre-existing diseases after the first year of the policy, depending on the policy you choose. Some plans offer coverage value after the second or third year of the policy.

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  Better savings

  Keep the savings or pension money intact as the health insurance pays for the medical expenses.

• Online facility

  You can apply or renew your policy online with a few easy steps.

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  Cashless facility

  A cashless facility lets you settle your medical claims without paying cash at the network hospitals.

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  Pre-and post-hospitalisation coverage

  The policy covers medical expenses incurred before and after hospitalisation.

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  Sum assured

  You can choose a sum assured of your choice.

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  Tax-saving benefit

  Premium paid is exempted from tax.

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  No-claim bonus

  You can avail of a no-claim bonus while renewing the policy after every claim-free year.

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  Transportation coverage

  You can avail coverage against ambulance charges.

Here's a quick look at the specifications of medical insurance plans for senior citizens.

Why invest in a Senior Citizen Health Insurance Plan?

Senior citizens health insurance is a great tool to safeguard your savings from unexpected medical expenses. With the odds of a medical emergency rising in the second innings, buying health insurance is one way to ensure that your savings don’t get depleted due to a health issue.

Senior citizen health insurance comes with benefits like preventive health check-ups and quality medical guidance, which helps detect serious diseases at a nascent stage. It also helps save tax as the money invested in the premium of a senior citizens health insurance is non-taxable.

How to make a claim for your Senior Citizen Health Insurance?

The claim procedure for health insurance plans for senior citizens is simple and hassle-free. You can either avail the treatment from the network of hospitals associated with the policy and get a cashless claim. In such claims, the insurance company will settle the medical bills directly with the hospitals within the limit of the sum insured.

If there is an emergency or a planned treatment to be taken place, the policy holder needs to prepare the documents, and submit some forms to the Third-party Administrator (TPA). TPA takes it to the insurer, subsequent to which the approval process starts. It takes more time to make the claim in case of reimbursement than a cashless treatment from a network hospital.

Depending on your policy, there may be a few expenses that would not be reimbursed. It is therefore important to read the policy terms and conditions carefully before buying a senior citizens health insurance plan.

Why buy Senior Citizen Health Insurance Online?

Medical insurance for senior citizens is essential as age brings with it unexpected health risks. While investing online, you can browse through and compare multiple insurance plans from the comfort of your home. Other than the convenience of getting all the plans,quotes, policy documents on a screen, you may also get the benefit of some discounts and offers.

Making payments online also adds ease to the process. The whole process is much smoother and hassle-free allowing you to pick any policy, read through the policy wordings and conduct an extensive research to make an informed decision.

Health insurance for senior citizens includes hospitalisation and health benefits ranging from domiciliary treatmentto coverage of diagnostic tests.

Below are some key benefits of health insurance for senior citizens:

• Coverage of hospital expenses

Senior citizen health insurance covers various hospital expenses such as room charges, doctor fees, nursing fees, medicines and drugs, ICU charges, and fees of other medical staff such as anaesthetists, surgeons, consultants, and specialists.

• Day-care treatments

Treatments that require hospitalisation for less than 24 hours, such as chemotherapy, dialysis, and physiotherapy, are also covered under health insurance. This benefit can vary from policy to policy.

• Cover for AYUSH Treatments

Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy (AYUSH) treatments are alternative medical options available and preferred by many seniors. Many health insurance policies for senior citizens also cover AYUSH expenses.

• Other Medical expenses

Medical/ health insurance for senior citizens also covers other expenses such as medical appliances, blood transfusion, medicines, operation theatre, pacemakers, stents, and various tests like x-ray, blood tests, or other expensive tests.

1. Pre-existing diseases are covered in the second year of the policy. It can be from the third or fourth year in a few cases.

2. Non-allopathic medicines, cosmetics, and aesthetic or related treatments are not covered.

3. Any disease contracted during the first 30 days of policy is not covered.

4. AIDS and related disorders are excluded.

5. Expenses related to self-inflicted injuries.

6. Any expenses due to drug addiction, alcohol, or any mental or psychiatric illness are not covered.

7. Few diseases, such as hernia, piles, cataract, benign prostatic hypertrophy, etc., usually have a waiting period.

8. Joint replacement surgery (other than due to accidents) also have a waiting period.

9. Cosmetic surgery is not covered.

10. Injuries arising due to war are not covered.

Here are the things to look at while buying senior citizen health insurance.

• You must check if the policy provides coverage for daycare treatments or procedures where you need to be hospitalised for less than 24 hours.

• Know the list of network hospitals your insurer has to avail of cashless claims facility.

• You must check the claim settlement ratio on the selected medical insurance plan for senior citizens.

• You must also know the waiting period, if applicable, for pre-existing diseases.

• Many health insurance plans for senior citizens offer preventive health check-ups to their customers. Know if there's a time period to avail of the facility.

1. Insured person should be above 60 years of age. For senior citizen health insurance, it is also important to note the upper limit, which in some cases may be capped at 80 years.

2. The insured will have to get a medical check-up before applying for the policy. This requirement may vary from policy to policy.