It is imperative everyone over the age of 35 gets a regular annual health checkup. It has been proven and advised by doctors that a full body screen/executive health checkup is important once a year. To highlight the importance of Health, the Government has given an incentive to undergo Health Checkup under the Section 80D of the Income Tax Act 1961, which allows tax deductions of up to INR 25000 for Health and Medical and Insurance Expenses for people below 60 years of age up to INR 50000 for people above 60 Years, every financial year.

Individuals or policyholders can enjoy tax deductions of up to INR 5000 on preventive health check-ups. As per the law, you can claim tax deductions on the money spent towards preventive health check-ups even if you are not covered under health insurance. However, the total tax deductions that you can enjoy on health insurance premium and preventive health check-up bills is up to INR 25000/INR 50000 annually.

What is preventive healthcare?

Preventive healthcare involves preventive measures that you can take for Health and Wellness including, Health Checkups, Doctor Consulations, taking flu shots/vaccinations, cancer screening etc.

Preventive healthcare is particularly important after the age of 35. It is also important for those with a family history of certain diseases, such as diabetes, high blood pressure and cancer.

MediWheel has an extensive range of packages for a comprehensive health checkup at the best discounted prices across the best centers across India. You may claim tax deduction on these packages booked through MediWheel, you may also ask for a reimbursement from your Insurance on these Health Checkups.

What are the benefits and important factors of preventive health check-ups?

1.Early detection of diseases:

Preventive health check-ups help in the early detection of health conditions and their timely treatment. This helps increase the chances of cure and survival.

2.Reduces the risk of complications:

Timely detection and treatment also alleviate the risk of complications that may arise when a disease is in an advanced stage.

3.Reduces healthcare costs:

The cost of treating a disease in the early stages is much lower. Preventive health check-ups also reduce the chances of costly emergency treatments.

4.Helps identify potential conditions:

Preventive health check-ups help detect signs of potential health conditions, such as diabetes, high blood pressure, and more. Thus, you can make necessary changes to your lifestyle or opt for certain treatments to prevent the condition from worsening.

Who can claim a deduction for preventive health check-ups under Section 80D?

Under Section 80D of the Income Tax Act, individuals who undergo preventive health check-ups can enjoy tax deductions of up to INR 5000 per financial year. You can also avail tax benefits on the amount spent on preventive health check-ups for your spouse, children and parents. Hence, people eligible for preventive health check-up under Section 80D should definitely file for a claim.

What is the maximum amount that can be claimed?

You can claim a maximum amount of INR 5000 per financial year against preventive health check-ups. This deduction can be claimed by you as well as your spouse, children and parents. So, if you or your loved ones undergo preventive health check-ups that amount to INR 10000, you will be eligible for tax deductions of INR 5000 at the time of filing IT returns. This deduction can be claimed even if you have paid the bills through cash, unlike for health insurance policies that require policyholders to pay premiums through organised banking channels to avail tax benefits.

Another thing to keep in mind is that you can enjoy a maximum tax deduction of up to INR 25000/50000 jointly on your medical insurance premium and preventive health check-up bills. For instance, if you are 40 years old, you can claim a maximum tax deduction of INR 25000.Say you paid a premium of INR 22000 towards your health insurance policy and spent INR 6000 on preventive health check-ups during the same financial year. Since you can claim a maximum deduction of INR 25000 only, the tax deduction towards preventive health check-ups will be INR 3000 (25000-22000 = 3000).

Opting for preventive health check-ups is one of the wisest things you can do for yourself and your family. These preventive tests help detect health conditions at an early stage, making their treatment easier, quicker and economical. If your health insurance policy includes free preventive health check-ups, you can claim a reimbursement for your insurance company.

Disclaimer:The above information is for illustrative purpose only.