Things You Need to Know Before Investing in a Senior Citizen Health Plan

After 60, life is regarded as a new inning, with fewer duties and more time for self and family. However, as you grow older, you become more susceptible to health problems. Therefore, while it may not be critical to have a guaranteed monthly income even after retirement, it is vital to manage your finances wisely.

Senior Citizen

So, if you are over the age of 60, you should consider purchasing a complete health insurance plan that will assist you in budgeting and navigating all healthcare bills with ease. Even better, today, health insurers offer comprehensive mediclaim policy for senior citizens that are designed to provide appropriate financial protection at reasonable premiums. So, keep reading to know more.

Why Should You Invest in a Mediclaim Policy for Senior Citizens?

Hospital visits may get more frequent as people get older, and the rising expense of treatment might place a strain on the family’s finances. However, a mediclaim policy for senior citizens comes in handy in this situation. Here’s what you need to know before buying a mediclaim policy for senior citizens:

  • A mediclaim policy for senior citizens pays for hospitalization costs, including pre & post-hospitalization expenses.
  • Preventive health screenings supported by mediclaim policy for senior citizens can discover disease symptoms early on.
  • Hospitalization without cash alleviates financial strain, but a mediclaim policy for senior citizens comes to your aid.
  • Daycare therapies are also covered under mediclaim policy for senior citizens, so prompt medical attention can be obtained.
  • Tax benefits under Section 80D of the Income Tax Act.
  • A mediclaim policy for senior citizens covers a variety of pre-existing conditions; however, they are subject to the terms of the policy.

What are the Inclusions of a Mediclaim Policy for Senior Citizens?

A mediclaim policy for senior citizens defines the coverage of a senior citizen plan. These are the circumstances in which a policyholder can file a claim for health insurance. Here’s a rundown of what’s covered by a mediclaim policy for senior citizens. However, inclusions can vary from one insurance company to the next.

  • Hospitalization: A mediclaim policy for senior citizens covers the cost of medical care in the event of illness or injury. Hospitalization costs include doctor’s visits, room rent, and operating room fees, among other things.
  • ICU Fees: ICU fees are substantially greater than regular room rental fees. mediclaim policy for senior citizens covers these expenses.
  • Ambulance Cover: Fees associated with transporting the insured to the nearest medical facility are also covered under the policy.
  • Pre & Post-Hospitalization: Pre-hospitalization charges are covered for up to 30 days, while post-hospitalization expenses are covered for up to 60 days under a mediclaim policy for senior citizens.
  • Daycare Treatment: It refers to minor medical operations that do not necessitate a stay of more than 24 hours in the hospital. Cataract surgery, for example, is covered under this policy. Moreover, domiciliary treatment expenses are also included under a mediclaim policy for senior citizens.
  • Second Opinion: Consultation fees from a different medical practitioner are included under the policy too. Additionally, expenses associated with full-body health check-ups to detect any future diseases on an annual basis are also covered under a mediclaim policy for senior citizens.

What are the Exclusions of a Mediclaim Policy for Senior Citizens?

A senior citizen health insurance plan’s general exclusions are listed below:

  • Intentional injuries like self-harm or attempted suicides
  • The requirement for medical attention as a result of participating in an adventure sport
  • STDs or venereal diseases
  • Cosmetic surgery unless resulting from an accident
  • Dental treatment unless an accident necessitates it
  • Obesity-related medical therapy
  • Treatment or surgery for gender reassignment
  • Maternity expenses

As people get older, their risk of developing diseases rises dramatically. This necessitates being financially stable to cover healthcare costs, and health insurance is essential in this sense, which is why giving your parents a mediclaim policy for senior citizens is the greatest method to meet their needs. However, don’t forget to opt for reputable and well-established insurers like Care Health Insurance that offer a wide range of senior citizen plans at affordable premiums.