Combating Rising Medical Costs: The Role of Mediclaim Insurance for Senior Citizens

As we age, our immune system weakens and we become susceptible to a lot of illnesses. Additionally, the growing technological advancement in the healthcare industry has in a way instigated the rise in the medical expenses.

Unlike youngsters, senior citizens are comparatively more susceptible to diseases and require constant medical attention. This often financially affects them while paying expensive medical bills.

This can put a financial strain on individuals during medical emergencies. This is where mediclaim insurance for senior citizens comes into the picture.  

Wondering why medical insurance? And, which one to choose for your family?

Look no further. In this article we will provide you with a comprehensive guide about the need for health insurance and which one you should choose.

Understanding Mediclaim Insurance for Senior Citizens

The deteriorating health conditions of senior citizens gives the requirement of having health insurance policies. In the healthcare industry, mediclaim insurance can help you and your family to avail medical benefits within your financial conditions. 

Moreover, these mediclaim insurance plans provide protection against the exorbitant medical expenses. They include most of the medical expenses included in the pre-hospitalisation to post-hospitalisation.

With the help of mediclaim insurance, senior citizens can manage their medical bills from diagnostics tests, prescription drugs and surgeries.

What is the Need of Mediclaim Insurance for Senior Citizens?

With life’s unpredictability, any kind of medical emergency can financially and emotionally affect the senior citizens. However, if they have health insurance, then they can prevent heavy financial drain and easily pay expensive medical bills.

Still wondering why mediclaim insurance will help you and your family?

Well, here is a list of some of the reasons that justify the relevance of mediclaim insurance for senior citizens:

• Rising Healthcare Costs: Elderly people are always prone to diseases and require frequent medical attention. And, with the rise in the medical costs, bearing these expenses can become burdensome for them. However, with the financial support from mediclaim insurance, senior citizens can pay these expenses with less difficulty.

• Increased Vulnerability to Critical Illnesses: Senior citizens are prone to certain health conditions such as heart disease, diabetes, and arthritis. Moreover, with the assistance from insurance they can avail regular health check-ups, vaccinations, and treatments that are necessary for these conditions. 

• Prescription Medications: Senior citizens very commonly take various long-term preventive medications for certain health problems, which can be quite expensive. For this, the medical insurance plans help to cover the preventive prescription drugs, making it more affordable for them.

• Access to High Quality Care: During a medical emergency, if a person has not invested in an insurance plan, he might be unable to access quality healthcare. However, if one has mediclaim insurance for seniors, they can easily access the best healthcare at reputable hospitals.

• Peace of Mind: Apart from the access to quality healthcare, medical insurance can help in providing peace of mind during a medical emergency. When you realize that the burdensome medical finances are taken care of, you definitely feel more relaxed during the situation.

Things To Keep in Mind When Purchasing the Health Insurance  Policy

When you are planning to purchase mediclaim insurance for senior citizens, you should consider the available options in the market. Different insurance companies give various benefits and cover various financial aspects of healthcare.

So, how can you make the right choice of purchasing the best health insurance?

Well, you can consider the following factors before purchasing any deals:

• Coverage Limits: When purchasing an insurance policy, you should review the coverage limits of the plan. This will help you to get a better understanding of the treatments and medical services covered by the insurance company. Moreover, make sure that the company covers hospitalisation charges, operation expenses and post-surgery medications.

• Network Providers: Another factor that you can also consider, is the healthcare facilities covered by the company. It is always better to choose a plan that has reputable hospitals and healthcare facilities in their networks. This will help to afford quality healthcare facilities and services at a lower cost, reducing the financial burden.

• Critical Illness Coverage: Senior citizens are more vulnerable to critical illnesses compared to the youngsters. So, it is necessary to check whether the insurance plan covers the expenses for critical illnesses before choosing the insurance company. Make sure to check if the plan includes critical life-threatening diseases like cancer, heart problems, kidney issues and pelvic dislocation.

Other Factors to Consider for Mediclaim Insurance Purchase

Apart from the healthcare facilities and diseases covered in the insurance plan, you should consider some more factors. These are listed below:

• Insurer’s Reputation: When choosing an insurance company, you need to look into their claim settlement ratio (CSR) of the company. This ratio helps you to understand the company’s market position with respect to the amount of claims they have settled. While checking the CSR, choose a firm that has the highest CSR in the market.

• Premiums: the premiums in the insurance plan refer to the amount of money that you have to pay the insurance company in installments. Based on the plan you choose, you will need to pay the premiums either quarterly, monthly or annually. So, check the premium plannings and choose the one that aligns with your requirements and financial conditions.

Best Mediclaim Insurance for Senior Citizens in the Market

With the current expensive condition of the healthcare industry, having health insurance is no longer a luxury. It has become an absolute necessity. Moreover, the elderly people need frequent medical attention for their declining physical health, and mediclaim insurance can help them financially.

This small investment can help them in affording high-end healthcare facilities and receive quality medical treatments. Moreover, the insurance can save them from financial burdens and live a healthy life without worrying about medical expenses.

Whether you are looking for the best mediclaim policy for family or senior citizens, Niva Bupa stands out. Additionally, they are one of the most trusted insurance providers in India, with more than 10,000 network hospitals.

Niva Bupa ensures you have access to quality healthcare during medical emergencies. As they care for your and your family’s health as much as you do. 

So, wait no more and contact them today to book your mediclaim insurance plan with them.