As our parents grow old, they need emotional and financial support. These days, medical expenses have increased many times compared to what they used to be a few years back. Therefore, get a comprehensive health insurance plan for them to take proper care of your parents as they age. Nowadays, senior citizens’ health insurance plans for both or single parents are available in the market. However, be informed about the entry age, coverage, and benefits associated with each plan before subscribing to them.
Here are some essential senior citizen health care benefits that you must know about:
Ease of digital platforms
Most insurance providers have their websites and apps these days. Know about the inclusions, exclusions, nature of coverage, and other things with the help of these digital platforms.
You may also apply, change, or renew a health insurance plan from their websites. Therefore, besides providing vital information, these platforms also make health insurance plans accessible. Also, you don’t have to pay any fee or commission to a broker or agent, as you can subscribe to a health insurance plan directly by using an online payment gateway.
With cashless cover, you have the option of getting your parents treated without any concerns. It is because some selected hospitals offer free-of-charge medical services if your parents are covered under a specific health insurance policy. This facility comes in handy when you are unprepared for a medical emergency. However, you must select the senior citizen health care plans that offer cashless cover at maximum hospitals in your area or city.
High sum insured
Medical insurance policies offer a sum insured to manage the expenses associated with a disease or medical condition. In the case of senior citizen health care plans, the sum insured is generally higher. The reason for this is the enhanced health risks your parents get exposed to as they grow older.
A high sum insured will take care of their medical treatment, but it might also help them cover some of the losses that they might suffer while getting the treatment. You must always choose a health insurance plan to select the sum insured.
Coverage for daycare treatments
A senior citizens health insurance policy with coverage for daycare treatments is a must these days. It is because some conditions might not require 24/7 medical support and services. You can also find medical insurance plans that offer coverage for treatments taken from the home.
Coverage for Alternate Treatments
Apart from allopathic treatment, senior citizen health care plans offer coverage for Ayurveda, Unani, Siddha, Homeopathy, and Yoga treatments. Many elders prefer alternative therapies to recover from different health concerns like diabetes, blood pressure, arthritis, etc. Therefore, you would like to get a health insurance policy for your parents that includes coverage for alternate forms of treatments.
Specific senior citizens, health care plans offer coverage for pre-existing diseases. However, the coverage is applicable only after serving a waiting period ranging from 1 to 3 years. Therefore, find a health insurance policy for your parents which offers a minimum waiting period for pre-existing diseases.
Cover for costs incurred before & after hospitalization
A senior citizen health care policy generally offers coverage for the expenses you bear before and after hospitalization. The period and extent of the pre and post-hospitalization costs vary from one insurer to another.
Coverage for ambulance charges
Sometimes, you might need to take your parents home to the hospital in an ambulance. In such a situation, you don’t have to think of the ambulance costs if you have purchased a health insurance plan for your parents.
While knowing about the inclusions of a senior citizen health care plan is essential, you must also go through the exclusions. Some of the standard exclusions mentioned in the policy documents of a Senior Citizens Health Insurance are given below:
- The diseases diagnosed before purchasing the policy are covered only after serving a waiting period. This waiting period can range from 1 to 4 years depending upon the policy you have taken for your parents.
- If a disease has been diagnosed within the first 30 days after getting the policy, the senior citizen health care policy will not cover the expenses related to that particular disease.
- Injuries inflicted upon self, cosmetic surgery, and medical conditions diagnosed due to overconsumption of alcohol or drugs are not covered by a senior citizen health care policy.
Other exclusions might be mentioned in the policy papers. Therefore, don’t purchase a policy unless you read and understand them completely.
Due to the wide range of services and benefits that senior citizen health care plans offer, they might be slightly more expensive than regular health coverage plans. To find senior citizen health care plans at affordable premiums, go through the health insurance plans specified on the official website of Bajaj Finserv. Different types of health insurance plans offered by prominent health care providers are available on this platform.