How to Take Advantage of a Health Insurance Policy's Tax Advantage

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How to Get Tax Benefit with Health
Insurance Policy
Tax saving is the most crucial thing a taxpayer
thinks of when he/she calculates his annual
income. One can get tax benefits through buying a
health insurance policy. If you want to save your
tax via health insurance, you should understand
few important things before purchasing a health
plan. Tax saving planning is a crucial segment of
financial planning, and you should do it
accurately. Get the Health Insurance Advisors
consultation in Noida Sector 18 through Bima Plus
for tax saving plan on health insurance.
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Income Tax Deduction on Medical Reimbursement U/S
17 of Income Tax Act Under the medical
reimbursement section, 17 of income tax enable
the insured person to get an income tax deduction
up to RS 15,000 FYI. The employer will pay
medical expenses with your salary for you and
your family member (dependent parents, spouse,
kids, and siblings), etc.  Tax Saving On Health
Insurance Premium Payment  You can get the
tax-saving benefit of Rs. 25,000 yearly based on
the premium payment of your health insurance
plan. The policyholder can avail complete
coverage for you and your spouse and kids. If
your spouses age is 60 years and more, the
senior citizens tax benefit limit will enhance
up to Rs. 50000. In this limit, the insured gets
an extra benefit of Rs 5000 for health
expenditure to inspect the family member includes
kids, parents, and spouse. Bima plus Health
Insurance Advisor in Noida Sector 37 will help
you choose the ideal health insurance plan.
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Tax Rebate Under Section 80DDB (Treatment of
Acute Diseases) Other than coverage against
severe illness, the health insurance plan also
offers tax rebates between Rs.40 000 and Rs.
60,000 for all old-age citizens. You can get the
tax rebate between Rs. 40,000 and Rs. 80,000, in
case medical expenditure occurs because of severe
diseases such as cardiac ailment, cancer,
neurological disorder, and all that. Some
critical diseases get coverage under the 11DD
section. It is compulsory to enclose a
certificate allotted by the surgeon while
applying for income Tax return filing.  Saving
Tax Under Section 80DD (Treatment of a Dependent
with Disability)  If you bear the medical
expenses of a disabled person (that person must
be your dependents such as siblings, parents,
kids, and spouse), you are entitled to get Rs.
75,000 tax rebate on expenditure against medical
cost, nursing, test and diagnoses,
rehabilitation, helping hand for disability,
caretaking. One can avail Rs. 1.25 lakh tax
saving for serious disability caretaking
service.  Tax Rebate Under Section 80U (Person
with Disability)  An individual having a
disability is entitled to a tax rebate of Rs.
75,000 as per section 80U of Income Tax ACT. The
maximum limit is up to Rs. 1.25 lakh, if the
disability is critical. For more information on
tax-saving through health insurance plans, you
can get the help of a Health Insurance Advisor in
Noida Sector 10 from Bima Plus. 
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