In today's fast-paced world, medical emergencies can occur at any time, and they can cause a significant financial burden. This is where health insurance comes in handy. Employers often offer Mediclaim policies to their employees as part of their employee benefits package. Here are some benefits of opting for a Mediclaim policy for employer health insurance
Coverage for Medical Expenses
One of the most significant benefits of a Mediclaim policy is that it provides coverage for medical expenses. In case of hospitalisation, the policy covers expenses such as room rent, doctor's fees, diagnostic tests, and medicines. It also covers expenses related to pre and post-hospitalisation, daycare procedures, and ambulance charges. This can provide much-needed financial security to employees and their families in times of medical emergencies.
No Pre-Medical Checkups Required
When employees opt for a Mediclaim policy through their employer, they do not have to undergo any pre-medical checkups. This is because the employer usually negotiates with the insurance company to provide a group policy, which covers all employees under a single policy. This makes the process of availing employer health insurance hassle-free for employees.
Tax Benefits
Employees who opt for a Mediclaim policy can also avail of tax benefits under Section 80D of the Income Tax Act. This means that they can claim a deduction of up to Rs. 25,000 for the premium paid towards their Mediclaim policy. Additionally, if the policy covers their parents, they can claim an additional deduction of up to Rs. 25,000 or Rs. 50,000 (if parents are senior citizens) for the premium paid towards their parents' policy.
In conclusion, opting for a Mediclaim policy through an employer can provide employees with extensive coverage for medical expenses, hassle-free processing, tax benefits, and health and wellness benefits. It is advisable to read the policy documents carefully and understand the terms and conditions of the policy before opting for it.
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