Comprehensive Health Insurance Options for Senior Citizens

This article will be a guide to comprehensive health insurance for senior citizens. So, you can stop worrying about your next healthcare bill and go back to enjoying the simple things in life.  

Why is Health Insurance for Senior Citizens a Big Deal? 

Let’s start with the more obvious reasons – with age comes experience, wisdom, and unfortunately, health issues, which translate to more doctor visits. As chronic illness starts to become more common, checkups become more frequent and medical bills can pile up to damage even the biggest savings accounts.  

This is exactly why a comprehensive health insurance policy is so crucial for people above the age of 60. However, it is important to make sure that the insurance plan you are opting for covers the more basic aspects of senior citizen healthcare.  

What Do You Need to Look for in Good Health Insurance for Senior Citizens? 

Here’s a list of things you need to check when shopping for a health insurance policy for someone above the age of 60 years: 

1. Complete Coverage 

You need to look for policies that offer complete coverage for your pre-existing conditions, day-care diagnostics, and even alternative treatments like Homoeopathy and Ayurveda. Policies that offer telemedicine facilities are highly recommended.  

2. Low Waiting Periods 

Some insurance policies come with waiting periods of years for pre-existing conditions. Ideally, you should choose a plan that either has a shorter waiting period, or none at all – because honestly, who wants to wait years when your knees are sounding like castanets? 

3. Robust Network of Hospitals 

You need to make sure your insurance policy covers a wide range of associated cashless hospitals, especially those near you. You do not want to hear “We don’t do cashless with your insurance provider” during an emergency.  

4. High Room Rent Capping 

Most health insurance policies come with a pre-determined room rent cap under hospitalisation expenses. But if you are not keen on snoring roommates or sharing bathrooms, you should look for policies with high room rent limits or at least a decent private room coverage. 

5. Lifelong Renewability 

During medical emergencies, you don’t want to find out your coverage expired at 80 like an old carton of milk. If you are shopping for health insurance for senior citizens, you should consider plans with lifelong renewability. 

6. Outpatient and Domiciliary Coverage 

Routine doctor visits, diagnostic tests, and even at-home treatments can eat into your savings quickly. A health insurance plan that covers outpatient and domiciliary healthcare is a solid advantage. 

7. Affordable Premium Amount 

Premium amounts tend to be higher for health insurance for senior citizens, and understandably so. As you age, the potential of claims also increases, requiring you to pay a higher amount for the coverage. Compare plans and choose the plan that provides the best bang for your buck.  

8. Flexible Co-Payment 

Many senior health insurance plans require the policyholder to pay a set amount of cash before the insurance coverage kicks in. This means you’ll need to pay a percentage of every insurance claim. While this is common, you need to find a policy where this set percentage is reasonable for you. 

A Few Tips Before You Buy 

Now, before you start looking for your ideal health insurance policy online, here are some pointers that you need to keep in mind. 

1. Disclose Everything:  

You need to disclose your medical history to your insurance provider before you get your coverage. While hiding any issues in your medical history may seem harmless now, it can lead to claim denial later on, which will be a much bigger issue. Be transparent. 

2. Don’t Just Look at Premiums:  

While insurance premiums are undoubtedly a big make-or-break section in your health insurance shopping, make sure you are not just looking at that. Be smart, and compare coverage with your needs before getting into the premiums. 

3. Check the Insurance Provider:  

Make sure you are comparing the insurance provider as well. Check how well the company has handled claims in recent years. Claim settlement ratio and response time are crucial.