5 Tips to Best Utilize Medical Insurance for Senior Citizens

Health insurance taken at the right time for your elderly family members can be of great help for them during their retirement days of life as it can keep your healthcare expenses manageable.

There is a variety of medical insurance for senior citizens offered by different insurers, but many families are not utilizing the best out of the policy they have taken. Instead, they are paying significantly more than they need to, which is a concern. This article is all about ensuring that you get the best out of medical insurance for senior citizens.

1. Choose the Right Plan for Your Older Family Members
2. Make Sure You Have Thoroughly Read Your Policy Terms and Conditions
3. Seek the Help of a Lawyer/ Advocate If Needed
4. Stick to the Hospital Network to Enjoy Maximum Benefits
5. Check for New Discounts and Offers to Avail of The Maximum

1. Choose the Right Plan for Your Older Family Members

Many people often make the mistake of sticking to the same insurance plan and provider each year. But before you finalize on one, make sure that you look at what kinds of medical needs your family has.

For example, if your family has a history of diabetes, check for the corresponding plan instead of choosing a plan that provides coverage for some other illnesses. 

2. Make Sure You Have Thoroughly Read Your Policy Terms and Conditions

Though we all know that it is important to read and understand the terms and conditions of the policy, we often skip those crucial points that cover the benefits and illnesses, which results in paying higher without appropriate benefits.

Therefore, it is best to keep those vital documents that you signed up, safe and handy. They can provide valuable information on your insurance costs and services you can expect in return from the insurer. Following the terms and conditions will help you ensure that you get quality healthcare treatment without emptying your pocket. 

3. Seek the Help of a Lawyer/ Advocate If Needed

Not everyone can understand the rules and regulations prescribed in medical insurance for senior citizens. Therefore, you can seek the help of an advocate or lawyer, if needed, to see if there are any unhidden or exceptions prescribed by the insurer.

Also, the help of a medical advocate comes in handy at times when the medical bills are being supposed to be paid off by the policyholder when you have already been insured for it. 

4. Stick to The Hospital Network to Enjoy Maximum Benefits

When you have a medical emergency, it is always recommended to rush to the network hospital so that you do not have to pay any medical bills from your pocket. If you visit a different hospital that is not in the network, it may incur an additional financial burden on you. Hence make sure to check for the network hospitals and doctors at your nearest locality/ city. 

5. Check for New Discounts and Offers To Avail Of The Maximum

Insurance companies offer various health and wellness programs, including annual health checkups, which may not be informed to all the concerned policyholders. These might also include discounts on certain checkups, fitness classes, and awareness sessions which you might need at a decreased cost. Therefore, make sure to check your insurer’s official website or mobile application regularly to avail of all the new offers and benefits. 

Choosing the Best Medical Insurance for Senior Citizens

Here are some quick tips you can follow to get the best medical insurance for senior citizens.

1. Consider the coverage offered for various diseases and illnesses, and sub-limits if any.
2. Check the waiting period for pre-existing medical illnesses.
3. Check for the premium you pay, and the sum insured you get and the available EMI options.
4. Check for the copayment ratio for senior citizen medical insurance. Usually, the share will be 10-20% of the claim amount—lower the copayment, better for the policyholder.
5. Last but not least, compare all the available plans of different medical insurance for senior citizens offered by insurers so that you can select the best one that meets your health and financial requirements.

When you are on the lookout for the best medical insurance for senior citizens, you will find multitudes of option. However, you must only consider exploring options from reputable and trusted insurance companies such as Care Health Insurance.

They are amongst the top insurance companies in India, and provide different types of insurance, catering to the needs of individuals from different walks of life. Discover their medical insurance plans for senior citizens, and enjoy the benefit of security and peace of mind!