Whether you are in your 60s or having elderly parents, medical policy for senior citizens gives enormous benefits. Do you know how much one hospitalization can cost you during the present time? Not less than 2-5 lacs depends on the severity of the problem. If there is any critical illness, then it can go up to 10 lacs. Medical inflation in India is 7% now and rising with horsepower. A comprehensive senior citizen policy gives a financial cushion during a medical emergency or planned hospitalization. Therefore, it is vital to choose the best health policy for senior citizens. So, if you are also looking for it, here are some really important questions that you should ask before buying senior citizen medical insurance:

Why Do I Need Medical Policy for Senior Citizens?

Old age, chronic diseases, etc. increase the frequency of visiting the doctor. Also, older people have pre-existing conditions like diabetes, hypertension, high BMI that need on-going treatment. Medical insurance for senior citizens helps them to avail of the advanced healthcare facilities when they have limited income. Below are some of its readily benefits:

• Hassle-free cashless hospitalization 
• Coverage for pre and post hospitalization expenses
• Cover for daycare treatment such as dialysis, chemotherapy, cataract, stone surgery, and more
• Provide domiciliary hospitalization and AYUSH treatment 
• Covered ambulance expenses
• Annual health check-ups include kidney function tests, blood tests, urine tests, etc. 
• Lessen the financial burden in the old age
• Tax benefits

How to Choose Senior Citizen Health Insurance Online?

You can get medical policy for senior citizen online now. It is very simple; below are the things that you should consider before choosing the policy:

• Check eligibility criteria and pick the plan with lifelong renewability
• Opt for the plan that gives full coverage, including treatment, medication, and hospitalization expenses
• Use health insurance premium calculator available on the official websites of the leading companies like Care Health Insurance, Go Digit, HDFC Ergo, etc. and compare the premium to opt for the most affordable one
• Senior citizens will not get the claim for exclusions, so pick the policy with minimal exclusions
• Compare the CSR of leading health insurance providers and choose the plan from the company that has higher one
• Choose the plan that includes the treatment for pre-existing diseases as well  along with add-on benefit to reduce the waiting period 
• Opt for the policy for senior citizens that has minimum co-payment
• Get to know about the additional benefits such as second opinion, ambulance cover, annual health check-ups, lifelong renewability, tax benefits, and more
• Never forget to read online reviews and check the customers’ ratings about health insurance companies and make your decision accordingly.

Which are the Top Health Insurance Companies Offer Senior Citizen Health Insurance Policy in India?

If you browse health insurance companies, you will get ample options for medical insurance for senior citizens. So, here is a jotted list of some top health insurance providers offer the best health policy for senior citizens:

What is the Eligibility for Medical Policy for Senior Citizen?

It is the health policy specifically designed for senior citizens above 60 years that covers their medical expenses inclduing cost of critical illness, pre-existing diseases, etc. Many health insurance companies offer this policy up to 65 years of age with a lifelong renewability option. However, it’s better to buy it once you entered in your 60s.

What is Not Covered Under the Policy Coverage?

There are some exclusions that are not covered under the medical insurance for senior citizens. Take a look at some of the common policy exclusions:

• Expenses attributable to self-inflicted injury (resulting from suicide, attempted suicide).
• Expenses arising out of or attributable to alcohol or drug use/misuse/abuse
• Internal congenital disease
• War, riot, strike, nuclear weapons induced hospitalization.

It is advisable to carefully read the policy terms and conditions before opting for the policy

How to Calculate the Premium for Senior Citizens Health Insurance?

Premium is the pre-decided amount of money that senior citizens have to pay to the health insurance companies against the coverage. It can be calculated based on the following factors:

• Age
• Sum Insured
• No of the insured persons
• Pre-existing diseases
• Add-on covers
• Policy term and conditions 

How to Claim Under Medical Insurance for Senior Citizens?

The claim settlement process under medical policy for senior citizen is easy. Below are the simple steps: 

In the case of Cashless Facility

• Get the pre-authorization form from the TPA Desk of the network hospital and fill in all the required details
• Collate all the medical bills, diagnoses, and doctor’s prescription
• Submit all the required documents to the claim management team of your health insurance provider
• Once your documents are verified, you receive an approval letter 
• Your health insurance provider will directly settle your hospitalization bills

In the case of Reimbursement

• Fill claim form and attach all the required original documents along with it
• Submit the form and the required documents to the claim management team of your health insurance company
• The claim management team may raise the query
• Once the team cross-checks the documents, you get an approval letter
• After approval, your hospitalization expenses will reimburse up to the sum insured within the stipulated time

Over to You!

So, in this present time, when medical inflation is high in the sky and incidences of life-threatening diseases are rising, choose the best health policy for senior citizens. It gives them a dignified life and better healthcare without financial implications.