Why Health Insurance is Necessary for Senior Citizens?

Health care costs are now on an all-time high. As we age, health care cost keeps rising steeply which is more like a burden, especially when we hang our boots. This is the reason that senior citizens have to think twice before spending each penny. They need to pay for their emergency expenses and medical expenses from their hard-earned savings.  

Health insurance is a necessity in today’s age. But, senior citizens find it really difficult to select a good health insurance plan. Health insurance is now too expensive and it also requires extensive medical tests which they find difficult to undergo. However, today there are many good health insurance policies that are apt for senior citizens and they can choose the same for their life. 

How to Choose a Health Insurance Plan?

The premium amount is not the only criteria while you choose the right health care plan. You have to choose a plan which covers critical care, hospitalization expenses and the number of network hospitals. Also, you have to choose a higher premium which provides you an adequate coverage. The sum to be insured must be of a very high amount as the medical expenses are going up every day. The inflation in the health care industry is said to be around 15%. The policy should also have a low waiting period for specific illnesses which falls under the pre-defined time frame. 

Consider the following health insurance plans for senior citizens.

1. Varishta Bima from National Insurance 

This is a very senior citizen friendly plan splendid, what works for in its favor is its entry age, which is as high as 70.

The plan covers a maximum coverage of Rs 1 lakh for hospitalization. Extra charge for conditions such as diabetes and high blood pressure are charged 10% extra, these conditions are covered 31 days after commencement of the plan. 

2. Heart Beat from Max Bupa

This plan also allows senior citizens of more than 70 years to join. The features of this plan include no sub-limits on ICU. No claim bonus is available. There is no waiting period for accident coverage. It is one of the most expensive plans available and provides health care and support for older adults. 

3. Red Carpet from Star Health

Many critics believe this to be one of the best health insurance plans for thesenior citizens. The biggest advantage of this plan is that the entry age is not 70 but 74. While buying the policy, you are required to declare your pre-existing illness(es) and you are also not forced to undertake any harsh tests, unlike other plans. Many pre-existing conditions are covered. Also, there is a two-year waiting period. There is a 5000 limit on post-hospitalization expenses.