In a world of uncertainty, we never know what will happen in the future. Staying with our grandparents or parents is bliss and one must relish this phase of staying together. Just the way they took good care of us when we were kids, it is our responsibility to look after and be there for them during their old age. We cannot neglect the fact that with the age factor kicking in elderly people are prone to illness or sickness. These are the times when one has to be emotionally and financially strong.
Taking care of the parents at their old age is an expensive affair with regular medical check-ups and doctor visits. It is necessary to plan well in advance that how the expenses would be managed so as the financial burden is reduced. It is possible by having medical insurance for parents would not hamper the savings and would give the best possible treatment. This medical insurance provides benefits of cashless hospitalization, pre and post-medical expenses, and other financial benefits during medical emergencies.
The benefits of having medical insurance are as follows:
- Getting medical insurance acts as a financial shield for times of uncertainty. It covers all the hospitalization expenses.
- It leads to tax savings as per Section 80 D of the Income Tax.
- The possibility of hospitalization is more in older age and medical insurance plans provide huge insurance coverage which protects from medical inflation.
The medical insurance covers various features given below:
- It covers the pre-hospitalization expenses which are incurred before the actual hospitalization.
- When the patient is admitted to the hospital for 24 hours, the cost includes the room rent, doctor visits, nurse fees, and other expenses including medicines.
- The post-hospitalization expenses include the charges incurred after the discharge comprising of the doctor’s consultation fees, further medical tests, and medicines.
- If the patient stays within the hospital for not more than 24 hours which is also known as daycare treatment, are included in the health insurance plan.
- Most of the insurance plans also cover free health check-ups for a specific number of years. Some plans also allow free annual health check-ups for a certain number of years.
The pro tip to be kept in mind before finalizing the policy is that one should compare first all the health insurance plans and their benefits from various companies. Comparison is the key to have the best possible solution out of the given alternatives. The plan that offers a maximum number of discounts can be opted to cover inclusive coverage features. Another factor to be considered while comparing is the limit allowed for the sum insured, since this limit for the patient is limited, so check the maximum value of the insured allowed.
This medical insurance policy applies to people aged above 60 years and senior citizens’ parents up to an age limit of 65 years are entitled to the health insurance policy. Certain documents need to be submitted for getting medical insurance: A proposal form for the insurance request, a medical check-up report (if required), and any pre-existing medical data (if any). A medical check-up is not required to obtain a medical policy for senior citizens.
While reviewing an insurance policy, certain points are excluded in it namely:
- Tests and treatments related to infertility and in vitro fertilization.
- Hospitalization expenses incurred due to riot, nuclear attack, or war.
- Medical expenses arising due to childbirth, abortion, or other related consequences.
- Expenses involved due to self-injury, that can be due to suicide.
Also, after or during the hospitalization, the cashless or reimbursement claim can be obtained by following simple steps:
- A reimbursement claim form needs to be filled along with attaching the supporting documents.
- The form can be submitted with the company and documents can be shared.
- The team managing the claim will raise the query.
- After the document verification, an approval letter is sent by the team to the claimer.
- Once the approval is finalized, the amount would be reimbursed.
In case the medical policy has expired, it can be renewed online. A simple request needs to be put up for the policy renewal and then all the documents are provided, and at last, the health insurance premium is paid through any mode such as debit or credit card.
With the rise in medical treatments and another price hike on a boom, it becomes very challenging to manage things. At such times, when an elderly person falls sick in the family, a stressful atmosphere is created and a major concern is managing the expenses. Care Insurance has got it all covered and acts as a safety cushion to protect the family. It provides quality health care treatment with top-class facilities at affordable prices. The medical insurance plans focus on delivering comfort and care to the older generation with hassle-free dealing with the hospitals.