Mediclaim Policy for Senior Citizens and Its Coverage

What is a Senior Citizen Mediclaim Policy? 

A mediclaim policy for senior citizens is a health insurance policy that provides comprehensive coverage for individuals aged 60 and above. It covers expenses incurred on hospitalisation, surgery, diagnostic tests, regular health check-ups, pre- and post-hospitalisation expenses, and more. Further, older people may be more susceptible to critical illnesses like renal failure, cardiovascular disease, diabetes, stroke, and more.  

The right policy will offer coverage for such illnesses as well. With an extensive mediclaim policy, they can get coverage for pre-existing illnesses that are more common in senior citizens. That way, it offers them peace of mind by providing them with the necessary financial support when they need it the most.  

Key Features of Senior Citizens Mediclaim Policy 

1. Comprehensive Coverage 

A senior citizen mediclaim policy provides extensive coverage to help them manage medical expenses in a hassle-free manner. This typically covers inpatient expenses, doctor’s consultations, ICU charges, nursing fees, pre- and post-hospitalisation treatment etc. Seniors can get the right treatments without worrying about digging into their savings.  

2. Daycare Treatments 

In most mediclaim policies, day care surgeries and treatments are common, which provide fast and efficient medical attention without extended hospitalisation. A mediclaim policy for senior citizens covers daycare procedures that require essential hospitalisation for less than 24 hours.  

3. Ambulance Charges  

In a medical emergency, the insurer bears the emergency ambulance expenses to transport the insured to the hospital.  

4. Domiciliary Hospitalisation Cover 

Sometimes, doctors prescribe hospitalisation at home due to the patient’s immobility or the unavailability of beds. Your senior citizen mediclaim policy will cover these expenses.  

6. Preventative Health Check-Ups 

It provides coverage for periodic health check-ups so that you can receive early medical intervention at an initial stage of a critical illness.  

7. Critical Illnesses Coverage 

With a senior citizen's health insurance, get essential financial support for the treatment of critical illnesses like heart attack, renal failure, diabetes, etc.  

8. AYUSH Treatments 

A mediclaim policy for older people would also provide coverage benefits for alternative treatment options, like Ayurveda, Unani, Siddha and Homoeopathy. 

9. Tax Benefits 

Health insurance also helps you avail of tax benefits under Section 80D. For seniors, the exemptions can go up to Rs. 1 lakh.  

List of Diseases Not Covered Under Senior Citizens Mediclaim Policy 

In most cases, treatment for the following is excluded:   

1. Health issues related to drugs, alcohol, or smoking 
2. Elected cosmetic surgery 
3. Pre-existing illnesses are covered only after the required waiting period is over. 
4. Self–inflicted injury. 

What to Consider When Buying a Senior Citizen Mediclaim Policy? 

Make sure to keep the following points in mind when you consider buying health insurance for seniors: 

1. Before purchasing a senior citizen health insurance plan, check the coverage benefits. Review its inclusions, exclusions, pre-existing diseases coverage, ambulance charges, and more.  
2. Most health insurance plans in India come with a waiting period before initiating the coverage benefit for pre-existing diseases. Choose a policy with a shorter waiting period to access coverage as soon as possible.  
3. Some senior citizens' mediclaim plans feature a co-payment clause that requires the policyholder to pay a portion of the medical expense from their pocket. Choose it as per your affordability.  
4. Confirm whether or not the insurance provider has a network hospital in your area to benefit from cashless treatment. This will help you access quality treatment quickly.  
5. Look for a high claim settlement ratio because it ensures the company’s efficiency in settling claims in a stress-free manner.  
6. Identify the best senior citizen mediclaim policy with great benefits and features at affordable premium rates. Do not choose a policy only because of a lower premium, as it may fall short of your needs.  
7. Look for extra bonuses and discounts, like a cumulative bonus or a no claim bonus. They can help increase the coverage.