You are among the fortunate ones if you have your parents. And as we become financially independent, taking care of our parents is one of our prime responsibilities. As they grow old, they get so many ailments that need to be treated so that they do not go through the pain and can be with us for even a longer time. If you have older parents, you know how frequent it becomes to visit the doctor. Even if there is nothing serious, you have to take them for routine check-ups, and all these need quite a lot of money. While taking care of them, you can save some money by opting for a health insurance policy.
What is a health insurance policy?
Health insurance is basically an insurance product that covers the medical as well as surgical costs of the policyholder. It covers all the medical expenses that are the result of an injury or illness. Sometimes, the health insurance provider directly pays the bills to the hospitals or the insured can also get it. As you purchase a health insurance policy for your parents, it will help you to lessen the burden of expenses at the hospital. Therefore, you can get treatment for your parents without worrying about pockets.
Coverage under the health insurance policy for parents
There are quite many expenses that the insurance company covers under a health insurance policy. Let us take a look a how health insurance for senior citizens is helpful.
Hospitalization costs
If your parents have some kind of ailments, they may need to visit the hospital often. Since the hospital bills are higher these days, it can be a little difficult for the common people to bear them. In one such case, the insurance company can prove to be of great help as they support the policyholder financially.
Pre and post-medical costs
When you have a health insurance policy for your parents, it will also cover the costs of pre as well as post-hospitalization.
Pharmacy costs
We all know that old people need medicines regularly. To take care of the pharmacy cost, you can use the health insurance policy.
Daycare treatments
Some treatments do not need the patient to be hospitalized or observation 24×7. Therefore, the daycare treatment is also covered by the insurance company.
Things that are not covered under health insurance for senior citizens
Certain things are not covered under health insurance for your parents. Let us know what they are:
- Pre-existing ailments or injuries
- Treatments that do not involve allopathy
- Injuries that have been done by themselves
- Dental treatment expenses
- Cosmetic or plastic surgeries
- Costs that are related to buying lenses, spectacles, and many more.
Simple tips to choose the ideal health insurance policy for senior citizens
There are certain parameters that you must check before you purchase a health insurance policy. Here are a few of them mentioned below:
Entry age
The majority of health insurance policies come with an age limit. Some policies provide coverage from 55 to 80 years, while the entry age of other starts from 60 years of age, and even above.
Maximum coverage
Before you purchase a health insurance policy, you need to make sure that it provides coverage for ailments, and especially critical illnesses. This is significant as senior citizens are more prone to those diseases.
Network hospitals
You must check the network hospitals of the insurance company. Once you find the list, you also must check if the hospitals are among the reputed ones and if your parents can start their treatment there in case of an emergency.
Insurance premium
While you are checking out the insurance policies, make sure you check the premiums that have to be paid. The premiums should be affordable enough.
Now if you want to check out some of the best health insurance policies for senior citizens, you can visit the website of IIFL.
