Senior Citizen Health Insurance Plan

What is the Senior Citizen Health Plan?

A senior citizen health plan is insurance for persons who are above 60 years old. It is used to cover the expenses of both emergency and scheduled hospital admissions. The plan reimburses diverse medical expenses such as hospital bills, doctor's fees, laboratory tests, and ICU admission fees as well as other necessary expenses mentioned in the policy.

According to the Insurance Regulatory and Development Authority of India, (IRDAI), insurance companies cannot refuse to provide or renew health insurance to senior citizens except for a justifiable reason. Some valid reasons include:

• Fraud.
• Lying or giving false information.
• Trying to cheat the insurance company for money by committing fraud, like faking death.

Benefits of Senior Citizen Health Insurance Plan

Here’s how senior citizen health insurance can help you:

• Financial Protection: Medical bills and long treatments can use up your retirement money. A senior citizen health plan can help protect your savings, so you can use it for other needs.
• Cashless Hospitalization: During a medical emergency, it’s hard to arrange a lot of money quickly. With this insurance, you can go to a network hospital and get treated without worrying about paying right away.
• Independence: Having health insurance helps you stay independent during tough times. You don’t need to depend on others for treatment; you can get the best care on your own.
• Tax Benefits: The money you pay for your senior citizen health insurance can be used to reduce your tax amount under current tax rules.
• Preventive Health Check-up: These plans offer reimbursements for health check-ups after one year. Regular check-ups help you understand your health and avoid future hospital visits.
• Peace of Mind: Knowing your medical costs are covered and you don’t have to pay from your own pocket during hospital stays or emergencies gives you peace of mind and helps you enjoy life without worry.

What is Covered and Not Covered in the Senior Citizen Health Insurance Plan

1. What is Covered

• Hospitalization Expenses: The plan covers the costs if you need to stay in the hospital, including room charges and medical treatments.
• Mental Healthcare: The plan also covers treatment for mental health issues, like therapy and counseling.
• Pre & Post Hospitalization: This covers the costs before and after your hospital stay, such as doctor visits and tests.
• Day Care Treatments: If you need treatment that doesn’t require an overnight stay, the plan covers those expenses as well.
• Home Healthcare: If you need medical care at home, the insurance helps pay for those services.
• Sum Insured Rebound: If you use up your coverage amount, it can be reset, so you have more protection.
• Organ Donor Expenses: The plan covers the costs of organ transplant surgery, including the donor’s medical expenses.
• Recovery Benefit: If you're recovering from a serious illness or surgery, the plan offers benefits to help you heal.
• AYUSH Benefits: The insurance includes treatments like Ayurveda, Yoga, Unani, Siddha, and Homeopathy (AYUSH).
• Free Renewal Health Check-up: You can get a free health check-up when you renew your policy, which helps track your health.
• Lifelong Renewability: You can renew your insurance every year without worrying about age limits.
• Multiplier Benefit: The plan increases your coverage amount over time as a reward for staying healthy.

2. What is Not Covered

• Adventure Sport Injuries: Injuries caused by dangerous activities, like skydiving or bungee jumping, are not covered.
• Self-inflicted Injuries: Injuries you cause to yourself, like accidents or harm, are not covered.
• War: Injuries or health issues caused by war or acts of terrorism are not included.
• Treatment of Obesity or Cosmetic Surgery: The insurance does not cover surgeries related to weight loss or cosmetic improvements.
• Venereal or Sexually Transmitted Diseases: Treatment for sexually transmitted diseases is not covered by the plan.

Important Tips to Consider Before Buying Senior Citizen Health Insurance

If you’re planning to buy senior citizen health insurance for the first time, here are some simple tips to help you:

• Check What’s Covered: Choose a policy that covers all the important health needs. Check the limits on coverage and any rules about co-payment. If you want extra benefits, see if the plan offers additional options (called riders).
• Look at the List of Network Hospitals: Make sure the insurance covers hospitals near your home. This way, you can easily get treatment during emergencies without traveling far.
• Choose the Right Coverage Amount: Medical treatment for serious diseases can be very expensive. Choose a sum insured amount that will be enough to cover these costs and leave room for future claims.
• Understand the Waiting Period: Find out how long you need to wait before you can claim for specific health conditions. This will help you understand when your insurance will cover certain treatments.
• Be Honest About Your Medical History: Always share your complete medical history when filling out the insurance form. Hiding any details can cause problems later when you make a claim. Being honest helps make sure your claims are accepted.

Conclusion

A senior citizen health insurance plan offers financial protection, ensuring that medical costs don’t drain your savings. So if you're above 60, it’s important to consider a senior citizen health insurance plan as a smart investment for your health and future.

By selecting the best health insurance plan for senior citizen in India with Square Insurance, you ensure that you and your family don’t face financial stress during medical emergencies.