Health Insurance
Living in this disease-prone era and inflation in the expenses of the medical sector it is very hard to meet all the expenses in India, health insurance has become a necessity for every individual or family.
To intricate on the fetch in ethos, an individual has begun staring at the extensive aspect of their lifestyle and their healthcare demands. And the awesome fragment is that they have begun undertaking the certitude that they actually do need health insurance.
One can avail tax deduction under section 80D of the Income Tax Act 1961, in health insurance
Self and family can claim up to Rs 25000
Self and family and parents can claim up to Rs 50000(25000+25000)
Benefits of Health Insurance Health Coverage
Health Insurance plans have magnified benefactions to cover a wide scale of prerequisites like a family health plan that offers complete coverage to all members of a family under a single roof.
- Medical Bills: The provision against medicinal expenses incurred, including pre and post hospitalization
- Former Diseases: The Coverage for any pre-existing disease is provided to you after a certain waiting period.
- Claim Reimbursement: The Coverage for expenses incurred for hospitalization due to a medical
- Tax Reimbursement: The Annual premium paid for health coverage are subject to tax exemption u/s 80D of ITA, 1961. Tax exemption ranges from Rs. 25,000 to Rs. 50,000.
- Other Benefits: As an inventive feature, OPD expenses are now covered under a few Insurer plans and don’t require hospitalization for a minimum of 24 hours for claim reimbursement.
