Government Health Insurance Schemes for Senior Citizens in India

The increasing costs of medical treatments have highlighted the importance of having health insurance, especially for senior citizens. The Government of India has introduced an extensive range of senior citizen schemes to manage this need. 

 

Government schemes for senior citizens provide a pension fund after retirement and also offer medical support. Additionally, they aim to enhance the quality of life for seniors. They help boost their income security and welfare and offer health benefits and social support.

The Government of India has implemented various schemes to provide a healthy, happy, and empowered life to senior citizens. Here is a list of some of the Government schemes for senior citizens that you must be aware of:

Here are some key features associated with health insurance policies for senior citizens:

• Coverage for Pre-existing Diseases

Some insurance plans may cover your pre-existing conditions once you complete the waiting period

• Savings on Medical Expenses

These plans offer financial protection against substantial medical expenses, allowing access to quality healthcare without the stress of high costs

• Cashless Treatment Facility

You can enjoy the facility of cashless treatments at network hospitals of the insurance company

• Coverage for Pre-and Post-hospitalisation

These plans cover a range of medical expenses, such as  pre and post-hospitalisation, doctor's fees, medication costs, and additional expenses

• Tax-savings

You can claim tax benefits for paying premiums on these plans under Section 80D of the Income Tax Act under the old tax regime

• Coverage for Transportation

Some health insurance policies also cover the transportation charges to and from the hospitals where you are getting treated

If you are looking for an affordable health cover, you can check out various plans from some of the leading issuers on Bajaj Markets. Refer to the following table for more details:

Disclaimer: The above-mentioned figures are subject to changes as per changes in the insurance provider’s policies.

Choosing the right health insurance plan is essential to ensure all your requirements are met. Here are some of the factors that you must consider while choosing a plan:

• Coverage

Choose a policy that provides high coverage as per your needs, including medical expenses like pre and post-hospitalisation, surgeries, and critical illnesses.

• Premium Cost

You need to pay a premium to the insurer in exchange for the benefits of the policy. Compare premiums for various plans and across different insurers to find a cost-effective option.

• Pre-Existing Conditions

Verify if the plan that you have chosen covers pre-existing conditions. This is essential because many health conditions may develop when you reach the age of 60.

• Network Hospitals

Ensure the policy includes hospitals close to your residence for convenient access to healthcare. Being informed about the same can help you claim cashless treatments during emergencies.

• Co-payment

Some plans come with a co-payment clause. Check if there is a clause requiring you to cover a portion of the expenses to avoid any financial stress later.

• Claim Process

Check the claim process that you need to follow when filing claim requests and the time it takes. Opt for a policy with a simple and convenient claims process.

• Waiting Period

You must also pay attention to the waiting periods associated with your plan, as they usually come with waiting periods for specific illnesses. You must go ahead with policies with no waiting period if possible.

Having a health insurance policy is an invaluable investment, especially if you are above the age of 60. Here are some key pointers why you should get it:

• Provides Coverage for Age-Related Ailments

With age, you are more likely to face health issues and need more medical care. Senior citizen health insurance plans are designed to help cover these costs for people aged 60 and up. 

 

They protect you from high medical expenses, ensuring you can access good healthcare without worrying about the cost.

• Shields Savings from Long-Term Medical Costs Due to Lifestyle Diseases

With the increased number of diseases nowadays, medical treatments also come with high costs. With these costs rising rapidly, it is wise for you to get health insurance, especially if you are a senior citizen. 

 

This will help you manage the rising costs and be financially prepared for any medical emergencies.

• Keeps You Financially Prepared for Rising Healthcare Expenses

With a health insurance plan, you do not need to worry about managing most medical expenses out of pocket. The insurance company will handle payments directly to the hospital. If you pay the expenses yourself, the insurer will reimburse you. 

 

This provides you with financial protection against high medical costs, especially during emergencies.

• Offers Comprehensive Benefits

By choosing the right policy with adequate coverage, you can get coverage for various medical issues that can affect you in old age. You can get coverage for hospitalisation, surgeries, doctor's consultation fees, and more. 

 

While a policy with more inclusions may have a higher premium, it is worth it compared to the medical expenses you may face without such coverage.