By Teena Jain, LiveMint
February 25, 2008
There don’t seem to be effective health insurance policies for senior citizens in India. Mint takes a look at what ails the system and puts forward a wish list
India’s greying population is growing every day. According to World Population Prospects (the population estimates arm of the United Nations), India’s senior citizens will number 112 million by 2015, up from 77 million in 2001. For many of them, however, health remains a primary area of concern. That’s where health insurance policies meant specifically for senior citizens can be a lifesaver.
Yet, some say their premium rates have been doubled over the past year, others say insurance companies have in instances refused to renew their policies. Finance minister P. Chidambaram, in his budget speech last year, directed three public sector insurance companies to provide health insurance policies specifically for the older generation.
THE WISH LIST
- Increase in maximum sum insured
- Limited co-payment
- No entry load
- No limits /sub-limits on major illnesses
- Medical testsSeniors are reluctant to opt for these policies because of the expense. The list of tests is long and costs can range from Rs1,500-2,000. For expensive tests, such as stress thallium, which scans for cardiovascular health and blood vessel blockages (Star Health needs one), the bill can add up to Rs10,000. Sood says, “If companies start sharing part of the costs for these tests, more people will opt for these policies and it would also help insurance companies keep a track on false claims.”
Abridged.
SOURCE: livemint
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