5 Best Health Insurance Plans for Senior Citizen Parents

As age advances, the body and health require more attention and care. With the skyrocketing health care expenses, getting treatment has become an expensive proposition. The matter is all the more serious for the senior citizens. Health Care Plans for Senior is the first need for us right now.

Post-retirement, there are limited funds to sponsor your financial requirements and on top of it combating ill health and allied expenses becomes a challenge. To have financial protection for your health it is imperative to have Health Insurance Plans for Senior Citizens by your side.

Plans are available for Senior Citizen

Once upon a time people lost their lives due to lack of money and people could never stop these things even if they wanted to, but this is an old thing. In today’s time, with the help of health insurance, you can win any battle, like any serious disease ranging from cancer. Every disease can be treated but only and only with the help of health insurance. Health Care Plans for Senior is must needed thing for this country, the way old age people died in Covid-19 shows that we all need the best insurance plans for our seniors. Listing down 5 Best Health care Plans for Senior Citizen Parents.

1. Star Health Red Carpet Senior Citizen Policy

Star Health Red Carpet Senior Citizen Policy is offered by Star Health Insurance Company.

Key Policy Benefits:

• In-patient hospitalization treatment, including room rent, nursing, ICU, and boarding expenses are covered up to the limits specified.
• No Medical test is required for those having no adverse medical history.
• The company offers directly in house quick claim settlement
• Treatment for specified illnesses like Cancer, Renal Complications, Treatment for breakage of bones, cataract, cardiovascular accident, etc. is covered.
• Post Hospitalization expenses paid as a lump sum subject to the limits are also covered
• Specific Day care Procedures are covered under the plan.
• The plan offers 6000 plus network hospitals for cashless hospitalization.
• OPD medical consultations are covered.
• The plan is available for purchase online.

Key Eligibility Criteria:

• The minimum entry age is 60 years and the maximum is 75 years.
• Minimum Sum Insured is 1 Lac and maximum is 10 lacs.
• Any pre-existing ailment/injury that was acquired within 12 months before the issuance of the first policy.

2. HDFC ERGO General Optima Restore Family Plan

HDFC ERGO General Optima Restore Family Plan is offered by HDFC ERGO Health Insurance Company. One of the best health care plans for seniors.

Key Policy Benefits:

• The plan offers in-patient hospitalization which covers the medical expenses for the hospitalization where the policyholder stays for more than 24 hours.
• Pre and post-hospitalization expenses 30 days before and 60 days after hospitalization are covered.
• 140 daycare treatments that do not require a minimum stay of 24 hours in the hospital are also covered.
• Domiciliary treatment is also covered under this senior citizen plan as prescribed by the medical practitioner
• No Claim Bonus of 5% is applicable for a claim-free year under this plan
• The expenses for the organ donor during an organ transplant are covered under this plan.

Key Eligibility Criteria:

• The minimum entry age is 61 years and there is no cap on the maximum age.
• Minimum Sum Insured is 2 Lac and maximum is 5 lacs.
• Any pre-existing ailment is covered after 3 years of continuous policy coverage.

3. TATA AIG MediSenior Plan

TATA AIG MediSenior Plan is offered by TATA AIG General Insurance Company.

Key Policy Benefits:

• Room rent, ICU charges, medicines, drugs, diagnostic procedures, etc. are covered under In-patient treatment expenses.
• Pre-hospitalization and Post hospitalization expenses are covered up to 30 days before getting hospitalized and 60 days after discharge.
• 140 listed daycare procedures are covered which needs less than 24 hours of hospitalization.
• Domiciliary treatment expenses are covered after continuous hospitalization for at least 3 days.
• Organ donor expenses are covered for harvesting the organ.
• Emergency ambulance charges are covered under this policy.
• Get the cumulative discount of 5% on premium for each claim-free policy year.

Key Eligibility Criteria:

• The minimum entry age is 61 years and there is no cap on the maximum age.
• Minimum Sum Insured is 2 Lac and maximum is 5 lacs.
• Any pre-existing ailment is covered after 4 years of continuous policy coverage.

4. National Varistha Mediclaim Plan

National Varistha Mediclaim Plan is offered by the National Insurance Company.

Key Policy Benefits:

• It covers Hospitalization benefits which include Room charges, Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists Fees, ICU Charges, etc. for a minimum stay of 24 hours in the hospital subject to sub-limits.
• Domiciliary Hospitalization expenses are covered under this policy.
• Organ Donor expenses are covered subject to sub-limits.
• The policy also offers a lump sum payment if diagnosed with any of the listed 8 critical illnesses.
• Emergency Ambulance charges are covered under this policy.
• A cumulative bonus of 5% of the sum insured is payable to a maximum of 50% of the sum insured.
• Health check-up expenses are covered once after a block of every 3 claim-free years.

Key Eligibility Criteria:

• The minimum entry age is 60 years and the maximum entry age is 80 years.
• Minimum Sum Insured is 1 Lac for hospitalization and a maximum of 2 Lac for critical illness.
• Any pre-existing ailment is covered after 2 years of continuous policy coverage.

5. Care Health Insurance Plans 

Care Senior Health Insurance Plan is offered by Care Health Insurance Company.

Key Policy Benefits:

• Policy tenure(duration) 1-3 Years
• Annual Health Check-ups at a certain period of time, and also blood test option is available in this plan.
• Lump-sum payment of Rs 500, daily basis maximum of 5 days.
• Along with Ambulance charges, the plan also covers organ donors.
• Lifelong renewability
• Pre-hospitalization and post-hospitalization expenses are covered up to 30 days and 60 days respectively.
• ICU charges 2% of SI.
• Covid-19 is also covered under this scheme.

Key Eligibility Criteria:

• The minimum entry age is 60 years.
• The plan offered you a sum assured of Rs 3 Lac and the maximum is Rs 10 lacs.
• Any pre-existing ailment is covered after 4 years of continuous policy coverage.

Apart from the main policy benefits, Health Care Plans for Senior citizens offer Tax Benefits under section 80 D of the Income Tax Act, 1961. The tax benefit can be enjoyed by an individual who pays a health insurance premium for his/her senior citizen parents over and above his/her own health insurance premium.

There are numerous health insurance plans for senior citizens offered by Insurance companies. It is important to understand your need, policy coverage, exclusions, inclusions, sub-limits, waiting period, and lastly your budget before finalizing the plan. For this, a proper comparison of health insurance plans for senior citizens is a must.