Choosing the right health insurance for your parents is a critical decision, given the increasing medical expenses and the vulnerability of older adults to health issues. One popular option in India is Care Health Insurance, formerly known as Religare Health Insurance. But is it a good choice for your parents? Let’s explore the features, benefits, and considerations of Care Health Insurance to help you make an informed decision.
Care Health Insurance offers a variety of comprehensive plans specifically designed to cater to the well-being of older adults. These plans aim to protect your elderly family members against unexpected medical expenses, providing extensive benefits from hospitalization to critical illness coverage. By opting for Care Health Insurance plans for your parents, you ensure that they receive top-notch medical care without the burden of financial stress.
Benefits of Care Health Insurance for Parents
- Sum Insured Options: Choose from Rs 3 lakh, 5 lakh, 7 lakh, 10 lakh, 25 lakh, or more annually.
- Eligibility: Available for individuals aged 18+; floater coverage includes children aged 91 days to 25 years.
- Comprehensive Coverage: Includes in-patient care, daycare treatments, advanced medical procedures, organ donation, second medical opinions, and annual health check-ups.
- Cashless Treatment: Available at 9400+ network hospitals, removing the need for upfront payment during emergencies.
- High Claim Settlement Ratio: Ensures reliable and timely financial support.
- Affordable Premiums: Competitive premiums with various sum insured options to fit different budgets.
- Flexible Plans: Offers individual, family floater, and senior citizen plans tailored to specific needs.
- High Sum Insured: Protects against high medical expenses and inflation.
- Coverage for Pre-existing Illness: Covers ailments like diabetes or heart problems after a waiting period.
- Covid-19 Coverage: Includes hospitalization expenses related to Covid-19.
Features of Care Health Insurance
| Parameter | Details |
| Sum Insured | Ranging from ₹3 lakhs to ₹6 crores |
| Critical Illness | Special plans offering coverage for 32 illnesses |
| Pre-hospitalization Expenses | Covered up to 60 days |
| Post-hospitalization Expenses | Covered up to 180 days |
| Ambulance Charges | Covered |
| Daycare Treatments | Up to Sum Insured |
| ICU Charges | Covered |
| Coverage for Senior Citizens | Special plans for senior citizens |
| Maternity Benefits | Special plans offering coverage for pregnancy, childbirth, and newborn baby |
| Hospital Network | 24800+ cashless healthcare providers with 11400+ network hospitals |
| Tax Benefits | Up to ₹10,000 under Section 80D |
| AYUSH Treatments | Covered |
| Grace Period | 30 days after policy expires |
| Waiting Period | 30 days / 24 months / 36 months / 48 months |
| Policy Tenure | 1 year / 2 years / 3 years |
Care Health Insurance Plans for Parents
| Plan Name | Sum Insured | Pre-hospitalization Medical Expenses | Post-hospitalization Medical Expenses | Co-Payment |
| Care Supreme Health Insurance | Rs 5 lakh to Rs 10 lakh | 60 Days | 180 Days | 20% on every claim if the insured person takes medical treatment in hospitals |
| Care Senior Health Advantage Plan | Rs 5 lakh to Rs 10 lakh | 30 Days | 60 Days | 50% on all claims made till age 70 years <br> Additional 10% co-payment on all claims made after age > 70 |
| Care Plus Health Insurance | Rs 3 lakh to Rs 25 lakh | 60 Days | 90 Days | 20% on every claim if the insured person takes medical treatment in hospitals |
| Care Heart Health Insurance | Rs 3 lakh to Rs 10 lakh | 30 Days | 60 Days | The insurer has to bear a minimum co-payment on each claim as per the policy schedule |
| Care Freedom Health Insurance | Rs 3 lakh to Rs 10 lakh | Up to 7.5% payable | Hospitalization expenses valid till 30 days beyond the policy end date | |
| Care Advantage Health Insurance | Rs 25 lakh to Rs 6 crore | 60 Days | 180 Days | The insurer has to bear a minimum co-payment on each claim as per the policy schedule (not applicable under the “Smart Select” plan) |
| Care 45+ Health Insurance | Rs 5 lakh to Rs 10 lakh | 30 Days | 60 Days |
N/A |
Eligibility Criteria for Care Health Insurance for Parents
| Criteria | Details |
| Minimum Entry Age | Individual: 5 years / Floater: 91 days with at least 1 insured person aged 18 years or above – 60 years for Care Senior Health Advantage Plan |
| Maximum Exit Age | Lifelong for Adults |
| Cover Types | Individual and Family Floater basis |
Coverage Under Care Health Insurance Plans
- In-Patient Hospitalization: Covers expenses during hospital stays.
- Pre-Hospitalization Expenses: Covers medical costs before hospitalization.
- Advanced Medical Treatments: Includes advanced procedures.
- Daily Allowance: Provides daily cash during hospitalization.
- Post-Hospitalization Expenses: Covers costs after hospitalization.
- Domiciliary Hospitalization: Covers home treatment when hospital admission is not possible.
- AYUSH Treatments: Covers alternative treatments like Ayurveda, Yoga, Unani, Siddha, and Homeopathy.
- Coronavirus Treatment: Includes COVID-19 treatment expenses.
Exclusions Under Care Health Insurance Policies
- Self-inflicted Injuries: Not covered if resulting from suicide or attempted suicide.
- Initial Waiting Period: No coverage for diseases or medical events (except accidents) within 30 days of policy start.
- Substance Abuse: Excludes expenses related to alcohol or drug use/misuse/abuse.
- Pregnancy-related Issues: Excludes treatment for pregnancy, childbirth, miscarriage, and abortion.
- Infertility Treatments: Excludes tests and treatment for infertility and in vitro fertilization.
- Cosmetic Treatments: Not covered unless medically necessary.
- War-related Events: Excludes hospitalization due to war, riots, strikes, or nuclear events.
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Conclusion
Care Health Insurance is indeed a good option for parents, offering comprehensive coverage, affordable premiums, and a high claim settlement ratio. Its features, such as cashless treatment, annual health check-ups, and no age limit, make it a suitable choice for ensuring the health and well-being of your parents. However, it’s essential to thoroughly understand the policy details, including waiting periods and exclusions, to make an informed decision. Comparing Care Health Insurance with other policies in the market can also help you choose the best plan that meets your parents’ specific health needs.
By carefully evaluating these factors, you can provide your parents with the best possible health insurance coverage, ensuring they receive the necessary medical care without financial strain.
