What are the benefits of health insurance?
What are the benefits of health insurance?
Health Insurance is often ignored by young professionals and their attitude towards Health Insurance has been somewhat lax. A basic health insurance policy offers a wide range of benefits that protect you and your family from unexpected medical expenses. This policy will cover medical treatment expenses, pre and post-
hospitalization expenses, room rent, critical illness, domiciliary expenses and day-care procedure. Insurance companies offer some of the best term insurance plan based on your needs and requirements. Hence it will bring down medical expenses to a great extent so that your family does not feel the pressure of the situation.
Essential benefits of health insurance include the following general categories:
- Ambulatory patient services
- Emergency services
- Hospitalization
- Maternity and newborn care
- Mental health and substance abuse disorder services (including behavioural health treatment)
- Prescription drugs
- Rehabilitative and habilitative services and devices
- Laboratory services
- Preventive and wellness services and chronic disease management
- Pediatric services, including oral and vision care
Health Insurance also offers tax benefits as an added advantage. The premium paid for a Health Insurance policy can be deducted from the total income under Section 80D of the Income Tax Act. The Section 80D of the Income Tax Act provides for tax deduction from total taxable income for the payment of Health Insurance premium paid by an individual (or a HUF). Health Insurance will sure go a long way in improving Health Insurance in the country.
No comments: