Can I Add My Mother as a Dependent in My Health Insurance Policy?

As parents start to age, there is always a concern about their growing health issues. With age, the risks of medical illness increase. That is why many individuals prefer to buy medical insurance for themselves and their parents.

Health insurance policies are classified into different types based on health conditions and age groups, such as family health insurance, individual health insurance, parent health insurance and more.

However, maintaining multiple medical insurance policies can be financially burdensome for some individuals. Considering this, people often ask, “Can I add parents to my health insurance?” In this blog, we will learn if adding parents to health insurance plans is possible or not.

Can I Add My Mom to My Health Insurance?

Yes, individuals can add their mother or father to a family health insurance plan or group health insurance policy provided by an employer.

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If you have an individual health insurance plan and want to add your parents to it, you need to convert your policy to a family floater plan or purchase a parent’s health insurance policy for them.

Adding parents to a health insurance policy, especially a family floater plan, will result in higher premiums. This is because as individuals age, they are more likely to face health issues. Insurance providers consider this increased medical risk when calculating premiums.

Understanding Dependents in Health Insurance

Individuals who want to add family members, such as spouses and children, to their medical insurance policies are called dependents. The term “dependent” is used to identify family members who rely on the policyholder for financial and healthcare support.

However, the eligibility criteria for adding dependents to the best health insurance may vary from insurance provider to provider. Here are the general eligibility criteria for adding dependents to health insurance.

• Spouse: A spouse is typically always eligible to be added to a family floater or group health insurance policy.
• Children: Children are usually covered under their parent’s health insurance policy, provided they are financially dependent on the policyholder.
• Parents: Some health insurance policies include parents as dependents, particularly family floater plans or group health insurance policies offered by employers.

Benefits of Buying Separate Health Insurance Policy for Parents

While adding parents to your existing family floater health insurance plan may seem like a convenient option, buying a separate health insurance policy is a better option. Here are some of the advantages of opting for a separate policy for your parents:

• If you buy a mom’s health insurance or parents’ health insurance, you will get tailored coverage to their unique health care needs. The plan will cover specific conditions, whereas a family floater plan may not provide adequate coverage for elderly individuals.
• Adding elderly parents to a family floater plan can increase the overall premium for everyone included under the policy, including your spouse and children. A separate policy for your parents helps to avoid this premium hike and ensures that your own family’s health insurance costs remain unaffected.
• Many health insurance plans for senior citizens offer a shorter waiting period for pre-existing conditions. In contrast, family floater plans often have longer waiting periods for pre-existing conditions, which may not be ideal if your parents have ongoing medical issues.
• If you buy a health insurance policy specifically for your parents, you can avail yourself of additional tax benefits under Section 80D of the Income Tax Act. You can claim tax deductions on premiums paid for your parents’ health insurance, provided they are senior citizens.
• A separate policy for your parents ensures that their medical costs are covered independently without affecting the coverage available for your spouse or children.

Conclusion

Having dependent health insurance, such as parents’ insurance, is crucial for safeguarding against unforeseen medical emergencies. Adding them to your existing health insurance policy may seem ideal or a convenient option, but it does not offer the comprehensive coverage that older people need.

This is why having separate parents’ health insurance is important. Providers like TATA AIG offer various health insurance plans, like senior citizen health insurance, that are customised based on their unique healthcare needs.