Higher tax exemption for health insurance premium

But increase in service tax can push up premiums

In order to encourage people to buy more health insurance, Finance Minister Arun Jaitley today increased tax exemption limits under Section 80 D for payment of health insurance premium. According to the Union Budget 2015-16, the tax exemption on premiums for health insurance for individuals and family has been increased from Rs 15,000 to 20,000 and for senior citizens from Rs 20,000 to Rs 30,000. Read our full coverage on Union Budget For very senior citizens, the tax exemption on expenditure on specific illness such as heart ailments or cancer has been increased from Rs ...