Here’s why a salaried employee should also have a health insurance policy; Check tax benefits, other details


The salaried class in India must take out personal medical insurance! Yes, we often hear anyone employed in the service industry wondering why they would buy personal health care, especially when the employer or company provides health insurance. However, it must be remembered that the cost of treatment is increasing these days and one must have a health insurance policy to alleviate monetary needs during any medical emergency.Also read – Did you receive an appointment letter from the income tax department? Here is an important notice for you

Employer or company health insurance policy: Employees often struggle to bear the full costs of medical emergencies. Therefore, companies provide a medical health policy. Health insurance policies provided by employers help staff in the event of an accident, illness or health problem. Also Read – Last chance to check your ITR for AY 2020-21: check the latest reminder from the Income Tax Department as the deadline approaches

The health insurance policy offered by the company also covers the spouse and children and often several dependents. The employer’s health insurance policy bears the cost of treatment if an employee and his dependents are hospitalized. The names of dependents must be mentioned when filing details of the medical insurance policy. Also Read – IT Department Returns Rs 1.67 Lakh Crore. What if you haven’t received your refunds?

The validity of the company’s health policy: However, it must be remembered that the health insurance policy provided by the employer remains valid until the employee is employed in this company. Once he leaves the company, the validity of the health policy provided by the employer becomes null and void.

Many employees remain dependent on the health insurance policy provided by the company because they do not have a personal health insurance policy. Thus, when the employee leaves the company, his health expenses and those of his dependents are not covered by any health policy. Even if that person buys a health insurance policy, the “waiting period” becomes an obstacle.

During this period, if a health emergency occurs, the employee must pay himself.

The salaried class must take out a health insurance policy: To avoid any unfortunate situation, the salaried class must take out a health insurance policy.

1. Easy premium payment: The salaried class can pay the health insurance policy premiums monthly, quarterly, semi-annually and annually. An individual can choose the duration of the payment.

2. Tax benefit: The salaried class may receive tax benefits on the medical health insurance policy under Section 80D of the Income Tax Act. A salaried class person can claim an income tax deduction up to Rs 25,000 for medical insurance premium for self, spouse and dependent children.

The salaried class can benefit from an additional deduction for parents’ insurance up to Rs 25,000 if they are not elderly.


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