Health insurance has become a necessity in recent years, and it is important to have the right health insurance plan in place for your elderly parents. People who have reached the age of 60 are considered Senior Citizens and are more vulnerable to illnesses or health problems.
Senior citizen health insurance plans cater to the needs of those over the age of 60 who are in their retirement phase. The risk of contracting diseases increases with age, necessitating the need to be financially secure to support health care expenses; health insurance is essential in this regard.
Here are 6 important questions to ask before you buy a health insurance plan for senior citizens:
- Does the senior citizen health insurance plan have critical illness benefits?
Cardiovascular conditions, cancer, paralysis, kidney failure, etc., are examples of critical illnesses. Compared to other kinds of ailments, the costs associated with these illnesses’ medical care are significantly higher.
Seniors are also more vulnerable to a number of serious ailments, including Alzheimer’s disease, kidney failure, and cardiovascular issues. Therefore, be sure to look for health insurance plans that cover these critical conditions.
- What is the waiting period for pre-existing medical conditions?
Health issues a person has been diagnosed with before purchasing a health insurance policy are referred to as pre-existing diseases in terms of insurance coverage. A pre-existing medical condition is one that an insurance company will take into account, for example, if your father is identified as having diabetes before you have purchased a health insurance policy.
Insurance companies typically impose a waiting period before providing coverage for costs associated with pre-existing medical issues. Due to the increased likelihood of being hospitalized for pre-existing medical conditions, plans with the lowest waiting periods should be given special consideration while shopping for senior citizen health insurance policies.
- Does the policy cover daycare procedures?
A hospitalization that lasts less than 24 hours or one day is referred to as a daycare procedure. Most senior citizen health insurance plans do not provide coverage for costs associated with daycare procedures.
To be reimbursed for such costs under most health insurance policies, a hospital stay of at least one day is required. Nevertheless, a lengthy hospital stay may not be essential in several situations, but the associated costs may be enough to drain your finances. Therefore, look for policies that pay for daycare expenses.
- What is the premium on your sum insured?
With age, medical expenditures also seem to be expensive. Therefore, look for a bigger sum insured value offered with health insurance policies to reduce the cost gap.
Looking for senior citizen health insurance plans that offer a bigger insured sum at affordable costs is important. Compare different sums insured and premium combinations to see which plan best suits your parents’ requirements. You shouldn’t settle for a minimum sum insured only to save money on premiums, given the escalating expense of healthcare in India.
- Is domiciliary care covered by your senior citizen health insurance policy?
If your parents cannot leave their home for treatment or if it will take a long time and require individualized care, geriatricians may sometimes recommend tretament at home.
Insurance companies cover costs associated with in-home treatment under the umbrella of domiciliary care. Given that older people frequently need this type of facility, you should consider purchasing a senior citizen health insurance policy with domiciliary coverage.
- Does your insurer have network hospitals in your location?
Suppose you have admitted your elderly parents to a hospital that is a part of your insurance provider’s network of hospitals. In that case, you can take advantage of the cashless settlement option without worrying about paying the money.
Therefore, check the list of hospitals in the network of any senior health insurance plan you consider buying. The more extensive the list, the better. Before making a choice, take into account the locations of such empanelled hospitals and whether they are in close proximity to convenient areas.
Summing It Up
Before buying an insurance policy for your parents, you should ask these few questions if they are over 60 years old. It is, however, simpler said than done. There are numerous options on the market, making it difficult to examine each one thoroughly.
But on the other hand, it is your duty to make the best decision for yourself or your parents and not just choose the simple route, particularly when it comes to their health. You can buy Senior Citizen Health Insurance Plan offered by Care Health Insurance which is specially designed for your ageing parents.