Health Insurance

What is Health Insurance?

Health Insurance is a financial protection plan that covers medical expenses arising from hospitalization, surgeries, critical illnesses, and other healthcare needs. It helps individuals and families manage rising healthcare costs without financial stress.

Health insurance policies can be purchased for individuals, families, senior citizens, or specific medical conditions.

Types of Health Insurance Plans

• Individual Health Insurance: Covers medical expenses of a single person.
• Family Floater Health Insurance: One policy covering all family members under a shared sum insured.
• Senior Citizen Health Insurance: Designed for people aged 60 years and above.
• Critical Illness Insurance: Provides lump-sum payout for specified critical diseases.
• Top-up & Super Top-up Plans: Additional coverage over existing health insurance.

Benefits of Buying Health Insurance

• Covers hospitalization and medical treatment expenses.
• Cashless treatment at network hospitals.
• Tax benefits under Section 80D of the Income Tax Act.
• Protection against rising healthcare costs.
• Peace of mind for individuals and families.

Health Insurance Premiums Without GST (From September 2025)

Starting September 22, 2025, health insurance premiums in India will no longer attract 18% GST. This landmark reform, announced after the 56th GST Council Meeting, makes health insurance significantly more affordable.

GST exemption applies to:

• Individual health insurance plans
• Family floater policies
• Senior citizen health insurance plans
• Critical illness covers

GST exemption does NOT apply to:

• Group mediclaim policies
• Personal accident insurance
• Travel insurance policies

Example:

• Base premium: ₹30,000
• GST @ 18% (earlier): ₹5,400
• Total before exemption: ₹35,400
• Total after exemption: ₹30,000

Why GST Removal on Health Insurance Matters

• Lower Premiums: Direct savings of 18% for policyholders.
• Better Affordability: Makes health insurance accessible to low and middle-income families.
• Relief for Senior Citizens: Reduces the burden of high premiums.
• Higher Coverage: Policyholders can opt for higher sum insured within the same budget.
• Supports Insurance for All by 2047: Encourages wider adoption of health insurance.

Top Health Insurance Companies in India

Below is a comparison of popular health insurance providers in India and their starting premium ranges.

*Premiums are indicative and may vary based on age, city, and coverage.

Eligibility Criteria for Health Insurance

• Indian resident individuals.
• Minimum entry age usually 18 years.
• Children can be covered from 90 days onwards.
• No maximum age limit for many plans.
• Medical tests may be required for senior citizens.

Documents Required for Health Insurance

• Identity proof – Aadhaar, PAN, Passport.
• Address proof.
• Age proof.
• Medical reports (if required).

How to Buy Health Insurance Online?

• Compare health insurance plans from multiple insurers.
• Select coverage and add-ons as per your needs.
• Fill in personal and medical details.
• Pay premium online.
• Receive policy instantly via email.

Online platforms make buying health insurance transparent, quick, and cost-effective.