India, Nov. 1 -- A health insurance policy can have a tax benefit alongside its role in covering eligible healthcare expenses. Section 80D allows eligible taxpayers to claim deductions for specified health insurance premiums, preventive health check-ups, and certain senior citizen medical expenses. The amount depends on who is covered, their age, and the tax regime you use.
How Does Section 80D Work for Health Insurance?
Section 80D allows an eligible individual to claim a deduction for certain health insurance premiums paid for themselves, their spouse, dependent children, or parents.
The limits are divided into two broad categories. One applies to you, your spouse, and dependent children. The other applies to your parents.
So, where th...