-- As we age, our health deteriorates and increases the chances of being bogged down by illness. The immune system starts to lose its capabilities and it is more likely to catch diseases and bad health. While physically it is a setback and something one has to deal with, it can affect you financially as well. Thus, opting for health insurance and medical plans, especially for the elderly becomes essential to manage unexpected expenses.
There are numerous specialised healthcare plans and insurance schemes that insurance providers have curated for specific elderly health needs. These plans, often available as Parent or Senior Citizen health insurance, come with specific coverages and treatment options. Contrary to the general medical insurance, these plans are well structured to the immediate needs and health conditions. Therefore, allowing the insurer to have personalised coverage without having to pay premiums for an umbrella of additional services.
Here are some of the main components that are common for senior citizen health insurance.
Hospitalisation expenses
Most insurance plans are structured to offer comprehensive coverage for all medical needs of the elderly for emergencies. Therefore, the hospitalisation expenses and major costs are usually covered as part of the insurance. Common expenses like room rent, physician and nursing fees, ICU and medication charges etc are insured.
Moreover, in specific treatments or procedures involving the use of implants, prosthetics etc, a major share of the cost is covered by specialised insurance plans.
Expenses for pre-existing diseases
More often than not, as the human body ages, we are more likely to have multiple medical conditions. And getting specific medical insurance for each isn’t practical or economical. So, most of the best health insurance policy in India provide coverage for pre-existing conditions. These are subject to certain rules including clear disclosure and providing relevant medical records at inception. Also, each of these policies has predetermined waiting periods for pre-existing conditions to claim coverage.
Similar to other medical conditions, all expenses for these pre-existing illnesses are covered under the insurance.
Ancillary Services
However, ancillary services do more than just fill the gaps in health care; they also play crucial roles with regard to preventive health care. Supportive ancillary services such as Annual Health Check-Ups or Ambulance Services assist in creating a more comprehensive view of patient management in this wider perspective.
Annual Health Check-Ups
Regular annual health check-ups form the base of preventive medicine, are an important component of any comprehensive health insurance scheme. The yearly checkups lead to early diagnosis of medical conditions, which could be noticed even before signs are observed. Early detection of such disorders helps in timely intervention leading to better outcomes for the victims and their families.
Ambulance Services
Emergency healthcare entails ambulance services as one of these components and it should be covered under health insurance. In the case of emergency situations that are life threatening, they help to transport patients to hospitals quickly so that treatment can commence immediately.
Tax benefits and limitations
Although insurance schemes are highly flexible, certain insurance claims and benefits might have clauses for claims. Some of the common clauses include medical services with partnered hospital networks and clinics, payment methods and cycles. In certain situations, costs for alternative treatments or elective procedures may not be covered by the insurer. So, it is important to refer to the terms of the policy before enrolling for any services.
Under the IT Act, the policyholders can claim up to INR 50,000 as tax reductions for eligible health insurance premiums. This means that an individual paying for their parent’s medical insurance can get benefits under Section 80D.
Opting for medical health insurance is an important financial and medical decision. And so, when choosing a plan, it is advised to understand your eligibility and the conditions of the insurance plan. While there are many available policies, picking the right one for your specific needs is critical. Therefore, before signing up for any scheme, compare your options and make an informed selection.
Contact Info:
Name: Ashok Gawasker
Email: Send Email
Organization: ACKO General Insurance Limited
Address: 2nd Floor, #36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102, India
Phone: 1800 266 2256
Website: https://www.acko.com/
Release ID: 89114958
Google
RSS