Getting older comes with many joys, like spending time with family and grandchildren, socialising, travelling around places, and many more. However, with ageing many individuals also face chronic health issues. It means they will need more healthcare and it comes with a lot of expenses. This is why health insurance policy becomes necessary for senior citizens.
If you are looking for health insurance for senior citizens, you will find many options available. But choosing the right one can sometimes be confusing. Let us explore the difference between regular health insurance and senior citizen health insurance plans.
What is Regular Health Insurance?
Health insurance provides financial coverage for the medical expenses of the insured. Medical policy helps protect individuals and families from high healthcare costs that often come unexpectedly. Regular health insurance may not always cover maternity insurance as it falls under a specialised category. However, it often covers the following:
- Hospitalisation Bills
- Doctor Visits
- Surgery
- Diagnostic Tests
- Medications
Premiums and coverage of regular health insurance can vary based on factors like age, health history, and the specific terms of the plan.
What is Senior Citizen Health Insurance?
Insurance for senior citizens are specially designed to provide coverage of the medical bills of individuals above the age of 60 years. Policyholders can avail of preventive health check-up facilities and also get the benefits of cashless hospitalisation.
These health plans also provide coverage for certain pre-existing and critical illnesses and have a minimal to zero waiting period. Policyholders may even customise their health insurance for senior citizens to get coverage for their medical bills.
Key Differences between Regular Medical Insurance Plans and Senior Citizen Health Insurance Plans
| Parameter | Regular Health Insurance Policy | Insurance For Senior Citizens |
| Age Eligibility | Typically for individuals up to 60 – 65 years. | Specifically for those above 60 years. |
| Coverage | General coverage may not include pre-existing conditions. | Focussed on senior citizen-specific needs and often cover pre-existing conditions. |
| Premiums | Premiums are less for younger individuals and increase with age. | Higher premiums due to increased risk but offer comprehensive coverage. |
| Benefits | Wide range of benefits and special coverage as per policy terms. | Focus on senior citizens’ health. Includes health check-ups and age-related coverage. |
| Deductibles | Higher deductibles for older adults. | Generally, lower deductibles are tailored for senior citizens. |
Which Plans Should Senior Citizens Choose?
Choosing the right health plan depends on individual needs. Let us discuss the key aspects of choosing health insurance for senior citizens.
- Individuals with Pre-Existing Conditions: If you are above 60 years old and have some preexisting health conditions, then a senior citizen medical insurance plan can be ideal for you. These plans cover pre-existing conditions and ensure comprehensive coverage. Regular health plans may not provide such coverage.
- Individuals Requiring Regular Health Check-ups: Senior citizen health plans often include regular check-ups. Such coverage is necessary for early detection of diseases and subsequent treatments.
- Individuals Looking for Comprehensive Coverage: Health insurance for senior citizens provides extensive coverage. They cater specifically to the needs of older adults.
To Sum Up
Choosing a medical insurance plan can be a little confusing sometimes. Based on your requirements, age, and budget, you may choose a regular health insurance plan or insurance for senior citizens.
Regular health plans have a longer waiting period for pre-existing health conditions, which may not provide adequate coverage to elderly individuals above 60 years of age.
On the other hand, senior citizen health insurance plans provide more coverage, including pre-existing chronic health conditions and shorter waiting times. Like regular plans, senior citizen medical policies also offer benefits like cashless treatment, lifetime renewability and tax benefits.
Choose your health insurance plan after knowing about the benefits and its limitations so that you can get maximum benefits.
