Senior Citizen Health Insurance: A Complete Guide to Choosing the Right Plan

Senior Citizen Health Insurance is an insurance coverage for the elderly that protects them from financial loss on eligible medical and hospitalization costs. It will pay for hospital stays, doctors' visits, prescriptions, diagnostic tests, surgeries, or eligible day-care procedures. Selecting an appropriate plan allows senior citizens to control their health care expenses and ensures that they don't run out of money if unexpected health care costs arise.

When selecting a Senior Citizen Health Insurance, it is crucial to compare a number of factors to be able to choose a coverage that matches your healthcare requirements and budget. Look at sum insured, premium, hospital cover, and waiting period for pre-existing diseases, co-payment, exclusions and sub-limits.

Also, look at the cashless hospital network and claim settlement process of the insurer. Check for coverage of medications, day-care, diagnostic costs and other pertinent medical costs.

When buying a policy, read the terms and conditions carefully and know what is covered and what isn't. When shopping around for health insurance plans, senior citizens can use the comparison process to choose a plan that fits their needs and budget, and to better prepare for any future medical costs.

Senior Citizen Health Insurance (Age 60 and above) – Below give various options for Senior Citizens

1. ICICI Lombard General Insurance Company Limited ( Silver Health Policy (Health Cover for Seniors)

2. National Insurance Co. Ltd. (Varistha – Mediclaim for senior citizen ) 

3. THE ORIENTAL INSURANCE CO. LTD. ( Hope Health for Privileged Elders - Senior Citizen Specified Disease Insurance ) 

4. The New India Insurance Co. Ltd. ( SENIOR CITIZENS MEDICLAIM POLICY)

5. Star Health & Allied Insurance Co. Ltd ( Red Carpet Health Insurance )

Comparative Rate for 4 Companies (Premium Comparison Rate chart for Senior Citizens)

• Note: Please refer to the policy documents for the complete Insurance Policy subject to the insurance Company.

Need for health insurance policy for millions of bed-ridden senior citizens of India

Like in any other country there are many senior citizens in India who are bed-ridden and dependent on others. Their number is increasing year by year and is going to touch very large numbers by 2025.

Recently a sample of 1,000 bed-ridden senior citizens were surveyed, 600 were from Delhi and 400 from its satellite townships.

It has been found that 4% of the 2.5 million elderly in Delhi/ NCR are bed-ridden and require round-the-clock care. At any given point of time, almost 5% to 6% senior citizens live with the threat of ailments, which may render them bed-ridden.

Approximately 65% of the bed-ridden patients were reported from among the elderly person’s category and these patients face many problems, including non-availability of care-givers, depression and nervousness, lack of cleanliness & hygiene, bedsores and high blood pressure.

It was also found that 86.1% of 1,000 reviewed were affected by physical chronic illness, heart attacks or accidents while 13.9% were suffering from different kinds of mental and psychological problems.

31% bed-ridden patients reported that they needed care-givers urgently or were without any proper care-giver. 38% patients were being taken care of by their spouses, 23% by their family members and 39% by care-givers.

There were more bed-ridden men than women – 67.5% against 32.5%. 66.5% of the patients were confined to bed for a short period (less than 12 months) while 33.5% were long-term patients. 76.5% were partially affected while 23.55 were severely affected.

There is a need for training family members to take care of the bed-ridden patients and help them accept their condition. It is imperative to initiate training programme for affected family members and relatives of bed-ridden patients so that hey can get adequate knowledge and information on how to tale care of persons confined to bed.

The question before us is that these bed ridden patients are not covered by health insurance policy because they are suffering while being at home and they are not in hospital.

We will welcome an innovative product from at least one Insurance company which will take care of such patients –many of them being patient of depression, which is not covered at present.