Ways for Elderly Individuals in India to Lower Their Health Insurance Expenses  

Senior citizens tend to face more health challenges, where regular checkups and vaccinations are important to maintain overall health. Sometimes, the treatment may get more expensive due to individuals’ health issues, so it is important to spend on preventive care plans. Buying a health policy is one of them. 

A well-designed health insurance plan not only promotes a significant approach to lower your health care expenses but also leads to health awareness. Reputed insurance providers like Tata AIG offer senior citizens health insurance plans designed specifically to cater to senior citizens’ needs. 

In this article, we will explore various ways to maintain health insurance expenses for elderly individuals, along with the benefits and key features of having a health insurance plan for senior citizens-

 Ways to Reduce Health Insurance Amount  

The cost of health insurance coverage can be a concern for many elderly individuals, but there are strategies available to help them without compromising on the important coverage.  

  • Compare insurers: Do not just renew your current insurance plans. Always evaluate your financial capability and health needs and compare different insurance companies and policies to find suitable and competitive premium rates matching your needs.
  • Go for a higher deductible plan: Opting for a health insurance policy with higher deductibles may result in more savings since they have lower premiums. This can be a beneficial choice for senior citizens who are generally healthy and do not require frequent medical services.
  • Explore wellness programs: Some health insurance providers offer participation in wellness programs for elderly citizens. These programs act more like preventive measures. They usually help maintain a healthy lifestyle and also help in the early detection of medical needs. Know about the available discounts and take advantage of such programs.
  • Adjust coverage: Eliminate unnecessary claims that may not match the specific health requirements of the senior citizens. Doing this will ensure a more cost-effective insurance plan.
  • Review Government health insurance schemes: There are a lot of health schemes available in the government’s funds, and utilising these services can save the overall insurance cost. 
  • Check senior citizen discounts: Many insurance plans offer discounts for senior citizens or a specific age group tailored to their requirements. Inquire whether there are discounts or specialised health insurance coverage available for elderly individuals. 
  • Seek professional consultations: Talk to an insurance adviser specialised in the healthcare sector, as they can guide you through a personalised health insurance plan, keeping your needs in mind.
  • Look for preventive care services: Take advantage of preventive care services offered by your policy providers. Systematic medical screenings and regular health checkups can detect possible health issues earlier, along with preventing the need for expensive treatments ahead.
  • Enjoy tax benefits under section 80D: Section 80D of the Income Tax Act in India offers cost deductions for premiums paid on health insurance policies. For elderly people aged 60 years or above, there are some specific deductions available. 

The following table will help you understand –

Insurance premiums paid by  Applicable tax deductions under Section 80D for senior citizens
Premium paid by self Deductions up to Rs 50,000 are allowed for premiums paid for health insurance.
Premium paid by family members Senior citizens can claim a deduction of Rs 50,000 for their health insurance premiums if paid by their family members.
Premium paid by a senior citizen for their dependent parents  In this case, an additional deduction of up to Rs 50,000 is allowed 

These tax deductibles may cover eligible medical expenses by providing a tax-efficient way to manage your health care costs. Keep yourself aware of all these tax claims in your health insurance plan; senior citizens are allowed to claim more tax benefits in India. 

It is advisable to check the latest tax laws and updates.

  • Start early health insurance:  Try to buy an insurance plan early in your life so that you can avail maximum benefits. Health insurance plans are lower for younger individuals because they are considered to have fewer health risks.
  • Maintain a healthy lifestyle: Uplifting a healthy lifestyle choice can contribute to overall well-being and might lower your healthcare service costs.


Reducing senior citizen health insurance costs requires a blend of thoughtful cost and needs evaluation and careful decision-making.

It is essential to stay informed about the cost-saving opportunities by actively exploring these adjustable insurance coverage options, and taking benefits of available claims. Elderly individuals can optimise their health insurance plans and can make a balance between comprehensive coverage and manageable costs.  

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