While buying a health insurance plan for elderly parents, the biggest mistake committed by people is that they buy the same type of health care plan for them (above 60 years of age) as they do for themselves. Yes, it is incorrect because the health conditions, vulnerability, requirements, and recovery rate of senior citizens drastically differ from young people, and standard health insurance plans fail to cover this entirely. As a result, standard health insurance plans fail to provide complete financial support to senior citizens.