Here’s All That You Need to Know About Cataract & Its Health Insurance Coverage

One of the most frequent eye procedures performed in India is cataract surgery. A survey shows over 74% of Indian seniors over 60 have cataracts or have undergone cataract surgery.

A cataract operation typically costs between Rs. 15,000 and Rs. 65,000. In India, several health insurance providers offer coverage for cataract procedures at competitive premium rates. Cataract insurance provides a minimum of Rs. 20,000 in coverage per eye and a maximum of Rs. 35,000. After a two-year waiting period, cataract coverage is available.

In the prime of your life, a health insurance plan with cataract coverage can help you save significant money. Instead of purchasing at the last minute, be ready with enough coverage to guarantee a smooth ride through the medical emergency. Most health insurance providers offer health insurance plans that include coverage for cataract procedures.

However, bear in mind the following terms and conditions related to the coverage …

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Health Insurance Tax Deduction Under Section 80D

Section 80D of the Internal Revenue Code permits you to claim tax deductions on the premiums you pay on purchasing health insurance. This provision is of critical importance to both your tax preparation and your financial management.

Under section 80D, what kinds of deductions are permitted?

  • The amount of money paid each month as a premium for health insurance coverage.
  • The amount of money spent on the medical treatment of members of the family, including the parents.

Under section 80D, one can submit a claim for a tax deduction for the amount spent on maintaining health insurance coverage. The maximum amount that can be paid out under the plan’s terms is established by considering the age of the insured individual.

  Insured   Deduction Amount
  Age Below 60 yrs.   Age Above 60 yrs.
  Self, Spouse & Children   25,000   50,000
  Parents   25,000   50,000
  Deduction   50,000   1,00,000
  Healthcare   5,000   5,000

People 80 or …

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