As one of India’s most thriving metropolitan cities, Ahmedabad offers excellent infrastructure, healthcare facilities, educational institutes, and business opportunities. However, the rising cost of living and healthcare can make retirement planning stressful for senior citizens. Purchasing adequate health insurance is crucial to secure your golden years in Ahmedabad. Read on to learn more about health insurance solutions for seniors.

The Health Cost Landscape in Ahmedabad

Ahmedabad has witnessed steadily rising healthcare costs over the years due to advancing medical technologies and infrastructure. Charges for standard procedures like angioplasty have nearly doubled since 2015. Hence, despite higher premiums to offset inflated medical bills, residents need adequate health insurance in Ahmedabad. Higher quantities of insured always result in higher premiums, but they provide a solid financial buffer against medical emergencies.

Understanding Health Insurance Needs after 60

With advancing age, the likelihood of contracting lifestyle diseases or requiring hospitalisation for severe illnesses increases. As per data, over 50% of seniors above 60 have at least one existing health condition that requires regular monitoring or treatment. Common health issues faced by seniors include:

• Hypertension

• Arthritis

• Diabetes

• Heart diseases

• Respiratory problems

Treatment for these chronic ailments involves regular doctor consultations, medications, diagnostics tests, specialised care, etc. Over time, these recurring expenses can drain savings and jeopardise financial stability.

Having robust health coverage through insurance allows you to focus on getting better rather than worrying about medical bills. It safeguards against inflationary pressures as costs of hospitalisations, surgeries, etc., rise yearly.

Key Factors to Consider While Getting Health Insurance for Senior Citizens

It is essential to choose health insurance for senior citizens above 60 years using several key parameters:

1. Health History

Provide complete details of medical history, reports of health, recent health checkups, prescriptions, etc., to the insurer. Be transparent about pre-existing diseases, previous procedures undergone, etc. This impacts risk assessment and determines policy exclusions.

2. Adequate Sum Insured

Evaluate the amount required to cover hospitalisation costs in Ahmedabad based on prevailing charges. Opt for a higher sum insured of ₹10-50 lakhs or unlimited covers to offset rising treatment costs. This reduces out-of-pocket expenses later.

3. Cashless Hospital Network

Verify the insurer’s hospital network in Ahmedabad and India, especially if you travel frequently. A more comprehensive network allows seamless admissions and faster claim processing without upfront payments.

4. Policy Inclusions

Carefully evaluate inclusions like pre and post-hospitalisation, OPD covers, treatments covered, sub-limits, if any, etc. Broad coverage limits unexpected costs.

5. Premium Payment Mode

Opt for more extended duration premium payment modes like 2/3 years for discounts. This helps manage cash flows effectively after retirement.

How Much Will Health Insurance Cost After 60?

Health insurance premiums are risk-based and account for age-related morbidity. Some key aspects impacting premium rates after 60 years include:

• Entry age – Premiums are lower when the policy is purchased earlier. Rates increase with age.

• Sum insured – Higher coverage attracts more significant premiums but provides a broader safety net.

• Pre-existing diseases – Additional loading or exclusions may apply for illnesses requiring recurrent treatment. This can increase the premium amount.

• Location – Premium rates vary across metro and non-metro areas based on treatment costs.

Conclusion

The buzzing cultural ethos and excellent infrastructure make Ahmedabad an attractive destination for settling down after retirement. Purchasing adequate health coverage is key to enjoying your golden years without financial vulnerabilities. Comparing offerings by multiple insurers and evaluating aspects like policy features, hospital networks, services, etc., allows senior citizens to make an informed choice.

Opting for health solutions from ACKO safeguards the well-being of Ahmedabad’s senior citizens by facilitating access to quality medical care through cashless hospitalisation. This effectively prepares individuals and families to face medical eventualities comfortably during retirement.