Points to Consider while Purchasing Senior Citizen Health Insurance

1. Points to Consider while Purchasing Senior Citizen Health Insurance

2. The rising cost of medical care services in the country has made it necessary to purchase a health insurance plan for the whole family. With age and an unhealthy lifestyle, diseases become inevitable. The health insurance policies will help in being prepared for medical emergencies. If your family has elderly members who require frequent medication, treatment, check-ups, or even if they have crossed the milestone of 60 years of age, you should consider purchasing a Senior citizen health insurance plan.

3. What is a Senior citizen’s health insurance? A senior citizen’s medical insurance is a plan for people aged around 60 years or more. This plan offers coverage against the expenses of medical care services such as hospitalization, daycare, regular check-ups, medications, pre-hospitalization expenses, post-hospitalization costs, and many such services. The policyholder will pay premiums in order to avail these benefits. This is a very beneficial plan for elderly people as they are in need of constant medical care.

4. Points you should consider when purchasing a Senior Citizen health insurance plan In-patient hospitalization: Every insurance provider will offer coverage against the expenses incurred when the policyholder is hospitalized for 24 hours or more under this in-patient hospitalization cover. The coverage includes the cost of medicines, nurse care expenses, doctor fees, specialist charges, and many such expenses that will be incurred during hospitalization. However, a few insurance companies have sub-limits to these policies. Sub-limits are the exclusions of the insurance plan. Some insurers have sub-limits on nurse fees while some have sub-limits on daycare. Before purchasing a Senior citizen health insurance plan, make it a point to check for such sub-limits.

5. Restriction on daycare hospitalizations: Do not rush to purchase the insurance plan. It is necessary to check the details as you may face trouble in the future. One such factor every buyer fails to notice is the restrictions of the insurer for daycare hospitalization. Daycare hospitalization involves availing treatment for less than one day. Treatments for eye cataracts, dialysis need medical care for less than a day (24 hours). In such cases, it is considered as daycare hospitalization. Every insurer will have a restriction on the number of hospitalizations you can avail. Some insurers may restrict to 10 daycare hospitalizations in the policy term while some may restrict to a lesser number of hospitalizations.

6. Waiting Period: Waiting period of a health insurance plan is defined as the time duration for which no treatment will be available for pre-existing ailments. The waiting period for different ailments may vary from one insurance provider to another. For example, the waiting time span for an insurer for eye cataract treatment may be one year while the waiting time span of another insurer maybe 2 years. Consider the medical conditions of the senior citizen, check the details about the waiting period and then purchase the senior citizen health insurance plan. Also, remember that no coverage is offered for any ailment that is diagnosed within a month from the date of policy initiation.

7. Remember, purchasing a health insurance policy is not an everyday task. So be careful while you are purchasing one for yourself or your kins. Go through the policy document thoroughly, understand the terms, inclusions, conditions, and exclusions. Only after this, purchase a plan that meets your necessities and offers better benefits at affordable prices.

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