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Introduction

Before we start comparing these two policies we have to set out some ground rules.

Both products are marketed by different insurance companies. Medicare Senior is sold by TATA AIG and National Parivar Mediclaim policy is sold by National Insurance. So any meaningful comparison should include a comparison of the product alongside the insurers themselves.

Second, we know that both products have massive differences in their core structure. Medicare Senior is specifically designed for null. However, National Parivar Mediclaim policy is quite basic. It offers little protection and it’s a generic policy that anybody could pick off the shelf. So in many ways, you’re comparing apples and oranges here.

And finally, any comparison is ultimately futile without considering the use case. Who are you buying this policy for? You, your family, your parents?

That’s something you’ll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the actual policies themselves.


Let’s start with Medicare Senior. The product comes from TATA AIG’s stable:

Tata AIG Health Insurance company is a joint venture between the Tata Group and American International Group. It was founded in 2001 and it’s one of the few companies that market products that are truly comprehensive, albeit expensive.

The company also boasts a claim settlement ratio of 96% with over 10,000 network hospitals across India.


National Parivar Mediclaim policy meanwhile comes from National Insurance’s stable:

National Insurance is the country's oldest general insurance firm and is wholly owned by the Government of India. That means, despite a claim settlement ratio of 93% and over 3,200 network hospitals it can be a bit difficult to reach the insurer when you need them the most. Perhaps due to the fact that they are still a public sector enterprise.

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Insurance Parameters

Recommended
Not Recommended
Network hospitals
10,000+
3,200+
Claim settlement ratio

(avg. of last 3 years)

96%
93%
Co-payment

15%

No

Room rent

Shared Room

Any Room

(up to 1% of sum insured)

Disease sub-limit

Yes

Yes

Pre existing diseases waiting

4 years

3 years

Pre/Post hospitalization

30/60 days

45/75 days

No claim bonus

5% per year

(up to 50%)

Domiciliary
Ayush treatments
Restoration benefit

100% restoration

(once for different illness

after complete exhaustion of sum insured)

Health check-up
Once every 3 years
Maternity

Available

(up to ₹50,000 after 3 years)

Out Patient Department
Day care

Feature Comparison

coPay

Co payment

With a co-payment clause, the insurer will mandate that you pay a part of the bill. So if the bill adds up to Rs. 2,00,000 and the co-payment is set at 20% then you could be asked to pay Rs. 40,000 from the bill. In this case, however, Medicare Senior imposes a mandatory co payment of 85% if you opt for shared room and 70% if you opt for any other room whereas National Parivar Mediclaim policy doesn’t impose a co-payment clause.

roomRent

Room rent

If the policy does impose room rent restrictions then the insurer may only let you stay in a room of a certain specification or impose a cap on the total room rent. If you were to breach either criterion then the insurance company may ask you to pay a portion of all the expenses you incurred while staying in the room. In this case, Medicare Senior lets you stay in a shared room and nothing fancy whereas National Parivar Mediclaim policy only lets you stay in a room whose rent doesn’t exceed 1% of the sum insured. In effect, both policies impose restrictions on the kind of room you can pick.

diseaseSublimit

Sub limits

Some policies will tell you that they will cover all medical expenses up until the sum insured, but then impose caps on the total costs you can incur while dealing with a very specific list of diseases. We call these caps “Disease Wise Sub Limits.” In this case, Medicare Senior imposes disease-wise sub-limits on Cataract, Joint Replacement, Hernia, Hysterectomy, Benign Prostate surgery whereas National Parivar Mediclaim policy imposes sub-limits on Cataracts, Modern treatments

ped

Waiting periods for pre-existing diseases

If you’re suffering from a lifestyle condition or if you’ve had surgery in the past, or if you’re dealing with an acute or chronic illness at the time of buying the policy, then the insurer may classify this as a pre-existing disease. And they may tell you that they will only cover these illnesses after some time. In this case, Medicare Senior imposes a waiting period of 4 years on pre-existing diseases while National Parivar Mediclaim policy extends a waiting period of 3 years on existing conditions.

prePost

Pre and post Hospitalization expenses

Most people aren’t hospitalized right off the bat. Instead, they’ll have to go through a whole series of diagnostic tests before hospitalization and take medication post-discharge. These costs are outlined as pre-hospitalization expenses and post-hospitalization expenses respectively. In this case, Medicare Senior covers expenses incurred 30 days before hospitalization and expenses incurred 60 days post-hospitalization. Meanwhile, National Parivar Mediclaim policy covers expenses incurred 45 days before hospitalization and expenses incurred 75 after hospitalization, although there may be different sub-limits

ncb

No claim bonus

Some policies will tell you that they will incentivize you for not making a claim in any given year. And they offer such incentives by offering extra cover on top of the existing sum insured. This extra cover is categorized as a no-claim bonus. In this case, however, Medicare Senior doesn’t offer a no-claim bonus whereas National Parivar Mediclaim policy offers a no-claim bonus.

domiciliary

Domiciliary

Imagine you are forced to treat yourself at home because you don’t find a hospital bed, or you have a chronic condition that prevents you from visiting one, then, insurers may choose to cover your treatment even if you’re hospitalized at home. And such costs are collectively categorized as domiciliary treatment costs. In this case, however, Medicare Senior offers domiciliary cover. And National Parivar Mediclaim policy also coves domiciliary expenses.

ayush

Ayush treatments

Most policies only cover treatments administered in a registered medical facility. However, on some occasions, you may want to pursue alternative treatments including homoeopathy, Ayurveda, Unani and Siddha. These treatments are collectively categorized as Ayush treatments. And in this case Medicare Senior doesn’t extend coverage for Ayush treatments whereas National Parivar Mediclaim policy covers Ayush treatments.

maternity

Maternity benefits

If you’re hospitalized during childbirth, then you may have to incur significant costs during delivery of your newborn, child care and other related matters during the course of the hospitalization. These costs are collectively termed maternity costs. And in this case, however, Medicare Senior doesn’t offer protection for maternity-related hospitalizations whereas National Parivar Mediclaim policy offers maternity cover.

opd

Out Patient Department (OPD)

Doctor visits and regular consultations aren’t usually covered by health insurance policies. They are categorized as Outpatient consultations (or OPD treatments) and patients have to bear the cost on their own. In this case, however, neither Medicare Senior extends coverage for outpatient consultations, nor does National Parivar Mediclaim policy.

Final Conclusion

Since this isn’t a fair comparison, to begin with, we will only tell you this much. If you want something that’s affordable, you could go for National Parivar Mediclaim policy. However, if you are specifically looking to buy a policy for null, then it’s a no brainer, Medicare Senior is your go-to option.

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