A:Many companies or employers provide health insurance to their employees, however we are highlighting few points which may help you:
Make sure there is an adequate cover as medical costs are rising.
Also these are generally floater plans covering entire family for a small amount in case of claim by one member of the family the amount will insufficient for the remaining members.
The policy will lapse on leaving the organization.
Its also important to realize that at the time of retirement, when the cover ends, applying for a new policy will come with many riders and aiting periods if the employee has developed some ailments like BP or diabetes also in some cases it may denied if the disease is from long time or chronic in nature.
In case of hospitalization were health cover is not there, may also lead to breaking your fixed deposits/savings Or selling property for the treatment, which was saved for your child future education or marriage.
A:Yes for financial year 15-16 deduction is raised from Rs 15,000 to Rs 25,000 for person upto 60 years. For senior citizen above 60 years deduction is raised from Rs 20,000 to Rs 30,000.
Also senior citizens who are above 80 years and not covered for health insurance, medical expense incurred for them up to Rs 30,000 can be claimed under section 80D.