A policyholder’s medical and surgical expenses are covered by health insurance. It either pays the care provider for the covered person directly or reimburses the costs incurred due to illness or injury.

Medical and surgical costs for an insured person are covered by health insurance. Depending on the conditions of the insurance policy, either the insured pays expenses out-of-pocket and then receives a reimbursement, or the insurance provider covers costs directly.

A kind of health insurance called mediclaim for senior citizens that pay for medical costs incurred by those over 60. It provides older patients with preventive health checkup services and cashless hospitalisation at the insurance company’s network hospitals. Pre-existing conditions, hospital costs, acute illnesses, pre- and post-hospitalisation costs, and coronavirus treatment are all covered.

There are two types of medical insurance plans that can be used for senior citizens:

Regular health plan

The most popular type of health insurance is a conventional policy, which offers a typical level of protection between one lakh (minimum sum assured) and five lakhs (maximum sum assured). Comprehensive health insurance plans, on the other hand, provide greater coverage.

Senior citizen health plan

Every stage of life requires different levels of health insurance coverage. As you age, you are more susceptible to diseases and are more likely to submit claims. Health insurance will enable you to get the best medical care available. Without a health plan, paying for medical expenses in an emergency could deplete all of your resources. If you have senior health insurance, you can concentrate on getting healthy.

Medical insurance for senior citizens

Compared to younger people, elderly individuals are more vulnerable to some diseases and health issues. In addition, health issues associated with getting older require expensive and ongoing therapy. Insurance for senior citizens can either be chosen as specific mediclaim for senior citizens, or they can be covered under a regular health plan. Choose medical insurance for senior citizens that covers a wide range of medical conditions and includes benefits like pre- and post-hospitalization, childcare fees, transportation, coverage for diseases you might be more prone to based on your family’s medical history, etc. Make sure that the health insurance you choose for your family offers coverage for each individual. Consider your criteria, assess plans based on advantages and pricing, and do your homework to find a plan that satisfies your needs.

As the name implies, one is a standard plan intended for people of all ages, while the medical insurance for senior citizens was created with consideration for the unique health requirements of the elderly. Most older people have several pre-existing conditions that can get worse at any time. Therefore, few insurers are willing to take the chance to provide standard policies to those over 60. Compare the rate and the advantages if the insurer is open to it. Because of provisions like co-payment and room rent limitation, the rate for senior health insurance may occasionally be inexpensive. Similar to standard insurance, some diseases may not be covered. Therefore, before implementing the plan, the study is essential.

Here we will compare the benefits of a senior citizen health plan and a regular health plan.

A senior citizen medical insurance policy provides a range of advantages to the elderly. The following are some of the main benefits of purchasing an Indian senior citizen medical insurance policy:

Medical coverage for seniors

Senior citizen health insurance plans cover medical expenses for those over 60, as traditional family health insurance policies often only cover those under 65.

Contrary to standard plans, most health plans do not demand that elderly individuals undergo medical examinations before purchasing the insurance.

Hospitalisation expense coverage

Under these plans, elderly citizens are protected from a variety of medical costs, including those related to inpatient hospitalisation, outpatient hospitalisation, and pre-hospitalisation.

Cashless treatment

The insurance provider’s network hospitals accept seniors for cashless medical care. Health insurance claims that are settled “cashlessly” don’t require the policyholder to pay cash upfront for medical services; instead, the insurance provider and the hospital negotiate a direct payment arrangement.

No-claim bonus

It offers senior citizens a No-Claim Bonus, which gives them a discount on their renewal rate for each year in which they have not filed a claim. In some programmes, it might range from 20% to 100%. The majority of senior citizen health insurance provides a lifetime renewability option.

Tax advantages are also provided by senior health insurance policies under section 80D of the IT Act for the premiums that are paid each fiscal year.

These are some benefits of mediclaim for senior citizens. As a senior, you must maintain a good diet and exercise routine and be ready for everything with a health insurance plan that covers your requirements. Take action right away to safeguard your health by requesting health insurance from Niva Bupa based on your needs and requirements.