Indian health financing scene raises several challenges, which are:
Given the above scenario exploring health-financing options becomes critical. Health Insurance is considered one of the financing mechanisms to overcome some of the problems of our system.
It is necessary to have it for the health aspect and help tax exemptions and premium paid towards health insurance under Section 80D of the Income Tax Act 1961.
A Health Insurance Policy would typically cover expenses reasonably and necessarily incurred under the following heads regarding each insured person subject to the overall ceiling of Sum Insured (for all claims during one policy period).
Not just medical facility, it also provides other advantages such as tax benefits. It helps tax exemptions on the premiums under Section 80D of the Income Tax Act, 1961.