"Prevention Is Always Better Than Cure"
Almost all of us know that govt offers tax rebate on health insurance but a very few of us know that preventive health checkups can also be claimed for tax rebate.Tax rebate on preventive health checkups was introduced from 1st April 2013.
Health insurance provides financial freedom in the time of need when a person is suffering from some illness and is in need of financial help. It is very good for the situations that are out of our control like accidents, critical illnesses whereas. For the health conditions that can be prevented by taking preventive measures in form of health tests or checkup or medical diagnosis and treatment, preventive health checkups are used. Preventive health checkups help in diagnosis of early symptoms of diseases that can be prevented for ex - diabetes, liver finctioning, kidney functioning, hemoglobin levels,vitamin levels. If not prevented at an early stage, these diseases can lead to severe consequences.
Preventive health checkup helps in identification and then prevention of any such illnesses.
This clearly shows that preventive health checkup is highly beneficial as it saves us and our near and dear ones from diseases as well as it can help in saving taxes. However both of them have their own importance. But taking preventive measures is always good.
Preventive health checkup can be done for individual or family. It can be claimed for --
Parents - Dependent or non-dependent
An aggregate of Rs 5000 can be claimed annually for preventive health checkup.
Any health test that can be considered as a measure to prevent the disease is considered as preventive health checkup.
Claiming tax benefits for a preventive health checkup is completely different from claiming tax benefits for a health insurance. In case of health insurance, premium is already paid and benefits can be taken in case of hospitalization or treatment. Whereas in case of preventive health checkup checkups are done to prevent the condition such as hospitalization etc. Spent on preventive measures can be claimed for dependent children, spouse and parents (dependent or non dependent).
Extent of coverage for preventive health checkups is Rs 5000.