The health
insurance solely focuses on helping the insured out from any health-related
issues and it is seen that the senior citizens, after a certain age, are in
grave need of this. However, in this age of price hike, the premium senior citizen health insurance is not left behind either keeping people awake at
night.
As with growing age, the health condition starts
deteriorating, the senior citizens look for certain help. By making a health
insurance for a senior citizen, the person can be rescued as the benefits of
the policy include coverage on the expenses for day-care procedure, transportation
charges, pre and post-hospitalisations and critical illness.
Benefits of
the Health Insurance for Senior Citizen in India
People over 55 to 60 years are usually eligible for
the senior citizen health insurance plans in India where they get a multitude
of benefits including,
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Ambulance charges
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Day-care procedures
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Critical illness
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In-patient hospitalisation
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Pre-hospitalisation
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Post-hospitalisation
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Healthcare professionals’ e-advice
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Tax benefits
The elderly persons can even go cashless after getting
senior citizen health insurance only if they opt for the pre-authorisation on
all the reservations before 48 hours of the admission. In case of any emergency
situation, admission post 24 hours can work. However, getting these benefits
during the current era has become pretty difficult because several causes are
increasing the amount of premium.
Why is
Premium increasing?
The senior citizen health insurance which is best is
becoming a huge burden on the senior citizens as the premium amount is almost
too difficult to bear for them now. The recent financial budget in India has
indicated about raise in premium which is generated by several factors.
Increase in
Tax
As dearness allowance for the senior citizens has been
decreased, the government is compelled to increase the tax affecting the senior
citizen health insurance. Moreover,
the interest rate in the financial institutions and banks are going down in
each month. This has put the elderly people in a critical situation because the
facility of senior citizen health insurance cashless is essential for them.
Age and
Premium
The premium of senior citizen health insurance scheme
is dependent on the elderly person's age and with each passing age; the amount
of premium goes higher. Only a few of the insurance companies are an exception
where the premium remains is dependent on the sum insured. In addition to the
context, IRDA has made it regular that the senior citizen health insurance
India is renewable until death. Moreover, the fixed age of the insurance has
fixed that the insurances have no other choice than accepting memberships up to
the age band of 65.
●
Bajaj Allianz Health provides Silver
Health where you can get sum insured of 5-50 lakh.
●
The New India Assurance offers Senior
Citizen Mediclaim for the people aging 60-80 years with the waiting period of
18 months. Additionally, the sum insured for senior citizen health insurance is 1-1.5 lakh.
●
Apollo Munich Health offers the
Optima Senior plan that starts from 61 years old.
●
Care Freedom provided by Religare
Health comes with the sum insured of 3-10 lakh.
Limitation of
Hospital Expense
There are certain regulations applied by IRDA that
indicates the sub-limits regarding the hospital expenditure are restricted. The
different insurance policy makers fix different sub-limits in the senior
citizen health insurances. Fees of the medical practitioner and nurses,
medicinal cost, surgery charges and room rent are all included in the
sub-limit.
●
In order to get the best benefits
regarding the sub-limits, the insured must go for senior citizen health
insurance premium comparison.
●
Through the help of senior citizen
health insurance premium calculator, the insured can get the real picture which
senior citizen health insurance can
be the best for him.
●
The senior citizen health insurance
reviews refer to the fact that if a plan comes with a sub-limit feature, the
sum insured is irrespective in case of the claim. If the room is capped at one
percent in policy amounting Rs. 3 lakh, then the room can be limited up to Rs
3000 only.
●
By availing the senior citizen health
insurance plans comparison, you can opt out yourself from paying more for the
unnecessary expenses that often due to the sub-limits.
How to Deal
with the Situation?
As the premium hike of senior citizen health insurance
can be difficult for people, getting a family floater plan can be helpful
extensively. Moreover, avail the portability feature to switch to a more
inexpensive plan. Keep track of the discounts and special offers so that the
overall expense can be reduced to a huge extent.
Changing lifestyle or keeping up a healthy lifestyle
can be miraculous even when it comes to dealing with old age problems.
Additionally, comparison of senior citizen health insurance can give you the
most convenient one with a cheaper premium.
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