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The Best Senior Citizen Health Plan

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What is Senior Citizen Health Insurance?

Senior Citizen Health Insurance Plans refer to those plans designed specifically for those above the age of 60. Most health plans have a cut-off entry age, mostly 55 years post which you cannot purchase it. So companies launched specific plans catering to the health insurance needs of senior citizens.As age increases, the chances of needing health treatments also increases. These health insurance plans will ensure that your healthcare needs are met. Or at least the financial burden is substantially reduced in the case of medical emergencies.

Senior Citizen Health Insurance Plans

Care
Plan
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Care Senior
Plan
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Care Health
Advantage Plan
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NivaBupa Senior
First Plan
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ABHI Activ Care
Plan
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ABHI Activ Health
Essential Plan
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ABHI Activ Health
Enhance Plan
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Star Health Senior Citizen
Red Carpet Plan
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Star Health Assure
Plan
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Bajaj Allianz Health
Guard Plan
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Go Digit
Super Care Plan
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Benefits of Senior Citizen Mediclaim Policy

Hospitalisation Benefits

In case of hospitalisation, expenses like room rent, doctor & surgeon fees, diagnostic test and related costs are covered

Pre & Post Hospitalisation

In case of hospitalisation, the costs incurred 60 days before and 60 days after treatment of that illness covered

Pre-existing Conditions

After a waiting period, all pre-existing conditions are covered in the plan

Cashless Treatment

You can avail cashless facility in the network hospitals of the company

Ambulance Charges

The ambulance charges are reimbursed in case of hospitalisation

Tax Benefits

Premiums paid are eligible for tax benefits

Why do you need health Insurance for Senior Citizens?

Increasing healthcare costs

The cost of hospitalisation is increasing regularly. It becomes very difficult for senior citizens to fund these emergency expenses from their savings.

Higher healthcare needs

With increase in age, the chances of needing medical intervention increases substantially. This is when maximum medical complications start affecting the body and need proper medical care.

Limited income post retirement

Most people rely on their savings to fund their retirement life. This is a limited amount and there is no additional source of income. So it is important that you have a health insurance plan to take care of medical uncertainties.

Peace of mind

When you have proper medical cover, you can stay relaxed and avail proper medical care in case of any complications. You do not have to rely on taking loans or depending on children’s income to fund your medical expenses.

What is not covered in a Health Insurance Plan for Senior Citizens?

Some of the key conditions which are not covered are as follows:

Pre-existing conditions

These are usually covered only after a waiting period. In some cases, there could be permanent exclusions also.

Dental and vision care

Routine dental and eye care are not covered. In case of damage due to an accident or illness the expenses will be covered.

Cosmetic procedures

These are not covered in most health insurance plans.

Experimental treatments

These are also not covered in any health insurance plan.

Things to Consider While Buying a Mediclaim Policy for Senior Citizens

Premiums

There are lots of plan options in the market. So best to consider plans which offer relatively low premiums.

Features

Senior Citizen Health Insurance plans may have a considerable difference in the benefits offered. It is best to do a comprehensive comparison before deciding.

Waiting Period

Pre-existing conditions will have a waiting period before the coverage starts. It is best to choose plans which have the lowest waiting periods. Most plans will have a waiting period anywhere between 24 to 48 months.

Co-payment

If possible select a plan which does not have a co-payment clause. Else, check for plans with the lowest co-payment.

Network Hospitals

Check the network hospital list of the company so that you can avail cashless treatment.

FAQs on Senior Citizen Insurance

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Tax Benefits in Senior Citizen Health Insurance Plans

Plans purchased for individuals above the age of 60 years can claim Income Tax deduction upto Rs. 50,000 under Section 80D.
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Claim Settlement Process for Senior Citizen Health Insurance Plans

  • Fill up with claim form
  • Submit required documents
  • Insurance company verifies the documents and claim details
  • Claim is settled
  • In case of planned cashless treatment, you will have to do this before getting admitted
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Documents required for claim under a Mediclaim Policy for Senior Citizen

  • Policy document / number
  • Claim form
  • Medical reports
  • Details of treatment