Government Health Insurance Plans for Senior Citizens
The increasing cost of healthcare expenses can be stressful for any middle-income household in India. While they are trying to cope up with routine expenses, any unforeseen health issues can prove to be financially and emotionally overwhelming. Amid, rising medical costs, why not assure your parents the best of the health treatment? And keep all the worries and apprehensions at bay!
There are a number of health insurance companies in India, which can help you address your concern with a comprehensive senior citizen health insurance policy.
Should you buy family floater insurance or individual health insurance for your parents?
The age of your parents and their medical condition can help you decide, which insurance plan you should buy – whether individual health insurance or a family floater health insurance plan.
If your age is not too much and your parents are below the age of 60 years, then you can go with a family floater plan to protect your entire family under a single plan. And if you have parents who are beyond 60 years of age, then you should buy an individual health insurance policy, as it provides a higher sum insured and higher coverage at the time of medical emergencies.
Check-out the Senior Citizen Health Insurance Plans That You Can Buy:
United India Senior Citizen Health Insurance Plan-
- This plan is a good option for people between 61 and 80 years. The plan also offers coverage to dependent children between the age group of 3 months and 18 years (if either or both the parents are covered in the same plan).
- The plan covers expenses incurred on Ayush treatment and allopathic treatment
- Pre-existing illnesses are covered after 48 months of continuous coverage
- The sum assured ranges from Rs. 1 lakh to 3 lakhs.
Oriental HOPE Plan Health of Privileged Elders-
Buy this senior citizen health insurance plan for your parents above 60 years of age:
- The sum assured options that you can choose are Rs. 1 lakh, 2 lakhs, 3 lakhs, 4 lakhs, and 5 lakhs.
- The plan offers coverage for specific diseases
- Loading is applicable for new entrants.
- 20% co-payment is compulsory on the permissible claim amount
- Discount on voluntary co-payments
- No-claim-discount on health insurance premium for all the claim-free years
New India Assurance Senior Citizen Mediclaim Plan
New India Assurance Health Insurance provides this plan to offer medical protection to people your elderly parents and people aged between 60-80 years.
- 1 to 1.5 lakhs
- Ambulance charges are reimbursed
- Up to 1% of sum assured is reimbursed for nursing and boarding expenses as charged by the hospital
- ICU charges are recompensed and the limit for reimbursement is up to 2% of the sum assured
- 50% of sum assured limit is applicable on Anesthesia charges, OT charges, medications, X-Ray, blood, oxygen, radiotherapy, dialysis, chemotherapy, cost of Pacemaker, stents etc.
- 25% of Sum Insured limit for fees charged by Medical Practitioner, Surgeon, Consultants, and Anesthetist etc.
- Cataract surgeries, prostate treatment, angiography, Arthroscopy, Tonsillectomy, Hernia- Ventral/Incisional, Kidney stone/lithotripsy etc. are subjected to limits specified as per policy documents
- Limited cover for non-allopathy treatments including Ayurveda, Homeopathic and Unani at government-certified hospitals
- Renewability up to 90 years of age
Advantages of Senior Citizen Health Insurance Plans
Having a senior citizen health insurance plan can prove to be useful in certain ways –
- Tax exemption benefit ranging from Rs. 30,000 to Rs.55,000 under section 80D of the Income Tax Act
- Medical treatment facilities in reputed hospitals across India
- Enjoy Cashless hospitalization benefits and daily hospital cash allowance ( varies from one insurance company to other)
- Lifelong policy renewal option
- Domiciliary hospitalization expenses are covered ( subjected to terms and conditions)
- Free-look period in which you can decide to continue to cancel the policy
- Annual health check-up facilities in some plans
- Reinstatement of policy sum insured
Things which are usually not covered under a senior citizen health insurance plan –
- Any type of pre-existing ailments or injuries
- Any diseases that are diagnosed within 30 days of policy inception
- Self-inflicted injuries or any type of mental disorders
- Overconsumption of alcohol, intoxication, and drug overdose
- Any expenses incurred on the purchase of spectacles, lenses and other external aids
- Any cost of dental treatment (unless it is an accidental case)
- Medical expenses incurred on treatment of HIV/AIDS infection
- Treatment for joint replacement surgeries, after a waiting period of 2 years
- Any type of plastic or cosmetic surgeries
- Treatment for injuries arising due to war conditions, terrorist attacks, an act of foreign enemy or army etc.
Your parents gave your birth, nurture you and gave you the best of life, now it’s your turn to express your love and concern. Help them buy or buy for them the best health insurance plan that covers health issues of your elderly parents and senior citizens