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Best Health Insurance For Your Parents



Best Health Insurance For Your Parents In USA And India: Health insurance is a type of insurance coverage that covers the cost of treatment and surgical treatment of an insured person.

Insurance providers use the term "provider" to describe clinics, hospitals, doctors, laboratories, healthcare practitioners or pharmacies that treat anyone. "Insured" is the owner of a health insurance policy or a person with health insurance coverage.

Depending on the type of health insurance coverage, the insured payout of the pocket and receives reimbursement, or the insurer pays directly to the provider. In countries without universal health care coverage, such as the United States of America, health insurance is usually included in the employer's benefits package.

According to the Kaiser Family Foundation, in the US, the number of people with insurance has dropped from 1 million in 20 to less than 20 million in 2016. Researchers have downplayed recent changes to the law.

The Commonwealth Fund 20 reports that all quarters of The United States working age have health insurance coverage. Many people surveyed became unemployed or lost health insurance when changing jobs. Emergency departments vary significantly depending on the type of health insurance a person has.

Why Is The Type Of Health Insurance Plan Important


The type of plan dictates how a person will contact receive the treatment they need and how much they will have to pay that day.

In 2003, the US Congress Health Savings Account (HSA) launched a new option. This is a combination of an HMO, a PPO, a savings account with compensation plans and tax benefits. However, a policyholder must associate this type with an existing health plan that is more than $ 1,100 for individuals and $ 2,200 for a family.

HSAs can top coverage by expanding existing plans to cover a broader range of treatments. If an HSA is paid on behalf of its employees to an employer, the payments are tax-free. A person can make funds in the HSA when they are healthy and save for examples of bad health in later life.

However, people with chronic conditions like diabetes may not be able to store a lot of money in their HSAs because they have to spend regular high treatments to manage their health concerns.

These plans are often very high deductible, which means premiums may be lower, but people often pay the full cost of any required treatment. There is more overlap as the types of plans evolve. The difference between the types of policies is becoming more and more blurred.

Most compensation plans use managed care strategies to control costs and ensure that there are sufficient resources to pay for appropriate care. Likewise, many managed care plans have adopted some of the features of plan-service-planning.

Why Parents Health Insurance Is Important


They were always there for you. You need to be there for them too.

You love your parents and are always concerned about their health, don't you? However, the fear of the risk of their disease is always feeding your conscience. Studies show that most Indian citizens suffer from one or other life-threatening diseases such as high blood pressure, diabetes, etc., which increase their chances of getting sick and read in medical conditions.

Additionally, aging thus weakens the body and immune system, increasing the likelihood of transmission of the disease. As such, it is very important to ensure your parents under a good health insurance plan. In the event that they become ill, a large portion of the treatment costs will be deducted from your parent's insurance plan. So, buying an appropriate health policy that covers your parents is a wise and important thing to do.

Best Health Insurance Plan For Parents

As there are many health insurance plans, it is important to compare and then choose the best treatment policy for parents.

The following are some of the best medical insurance plans you can consider for your aging parents:

Insurer name
Entry Age Criteria
Sum Insured (in Rs.)
Co-pay
Pre-medical tests
Inclusions
Exclusions
Religare Care Senior Citizen Health Insurance Plan
Min: 46 yrs.
Max: Lifelong
Min: 3 L
Max: 10 L
20% for 61 years and above
Not required
  • In-patient hospitalization expenses
  • Ambulance cover
  • Second Opinion
  • Domiciliary hospitalization
  • Optional OPD care
  • Day Care Treatment
  • Alternative treatments

  • 48 months waiting period for pre-existing illnesses
  • 24 months for specific illnesses
  • Any claim made within the first 30 days from the policy inception date
  • Any OPD treatment
  • Self-inflicted injury
  • HIV/AIDS
  • Congenital illness Infertility related treatment
  • Pregnancy and related complications

Max Bupa Health Companion Family Floater Plan
No Age Limit
Min: 2 L
Max: 1 Cr.
20% co-payment for people above 65 years of age
above 45 years of age
  • In-patient Care
  • Pre and post hospitalization expenses
  • Organ transplant
  • Domiciliary treatment
  • All Day-care treatments

  • Menopause related problems
  • Eyesight
  • Dental treatment
  • Artificial life maintenance
  • Treatment received outside India

Star Health Red Carpet Plan
Min: 60 yrs.
Max: 75 yrs.
Min: 1 L
Max: 25 L
50% for pre-existing diseases
Not required
  • Hospitalization expenses
  • Ambulance charges
  • All Day-care procedures
  • Health Check-up expenses
  • Lump-sum payment for post-hospitalization

  • Sub-limits
  • Diseases contracted 12 months before policy inception
  • Claim arising within 30 days of policy inception

Apollo Munich Easy Health Plan
Min: 61 yrs.
Max: No Age limit
Min: 2 L
Max: 15 L
15 to 30% on room rent
30% on specific illnesses
15% on daycare procedures
N/A
  • Hospitalization expenses
  • Ambulance charges
  • Ayush benefit
  • Critical Illness Rider

  • Any critical Illness within 90 days of the policy commencement date
  • Any illness diagnosed within 30 days of policy inception ( unless it is an accidental injury)
  • Pre-existing diseases will be covered after a waiting period of 3 years

Bajaj Allianz Silver Plan
Min: 46 yrs.
Max: 70 yrs.
Min: Rs. 50,000
Max: 5 L
10% to 20%
N/A
  • Hospitalization expenses
  • Ambulance charges
  • 130 daycare procedures

  • 2 years waiting period for pre-existing diseases
  • Any diseases contracted within 30 days from the inception of the policy
  • 2 years waiting period for specific diseases
  • Cost of spectacles
  • Cosmetic treatments

TATA AIG Medi Senior Health Plan
Min: 61 yrs.
Max: No limit
Min: 2 L
Max: 5 L
15% to 30%
Not required
  • Organ donor expenses
  • In-patient treatment
  • Domiciliary treatment
  • Daycare procedures

  • Self-inflicted injuries
  • HIV/AIDS-related health issues
  • Congenital anomalies
  • Drug or alcohol abuse

Oriental Insurance Hope Plan
Min: 60 yrs.
Max: No limit
Min: 1 L
Max: 5 L
20%
Not required
  • Hospitalization expenses
  • Ambulance charges
  • Cardiovascular diseases
  • Cancer
  • Knee replacement etc.

  • 2 years waiting period for pre-existing diseases
  • Any diseases contracted within 30 days of policy inception
  • Self-inflicted injuries
  • Cost of vitamins/tonics

Chola Individual Insurance Plan
Min: 3 months
Max: 70 yrs
Min: 2 L
Max: 25 L
10% for 55 years and above
Not required up to 55 years of age
  • In-patient hospitalization expenses
  • Day-care treatment
  • Ayush treatment
  • Organ Donor Expenses

  • Any diseases contracted within 30 days from the inception of the policy
  • Pre-existing conditions until the completion of 36 months of the waiting period

Royal Sundaram Lifeline Elite Plan
Min: 18 yrs.
Max: No Age Limit
Min: 25 L
Max: 150 L
N/A
Required in case of pre-existing illnesses
  • In-patient hospitalization expenses
  • Domiciliary Hospitalization
  • Ayush treatment
  • Global Emergency Hospitalization
  • Cover-(Excluding US & Canada)
  • Organ Donor Expenses
  • Overseas Treatment for specified
  • 11 critical illnesses

  • Congenital diseases
  • Treatment for Alopecia
  • Pre-existing illness until 2 years of a waiting period
  • Any diseases contracted within 30 days from the inception of the policy
  • Critical illness diagnosed within 90 days from the policy inception date
  • AIDS-related treatment
  • Eye related treatment
  • Dental treatment
  • Self-inflicted injury


Conclusion

Thank you for having with us. We think that this kind of information will help you to make better health insurance for your parents. If you have any inquiry please comments.


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