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Health Insurance Tax Benefits for Senior Citizens u/s 80D

Who is Senior Citizen?

What are the Tax Benefits with Health Insurance u/s 80D for Senior Citizens?

Scenarios on Tax Saving u/s 80D Deductions for Senior Citizens

Different scenarios are possible considering the various eligibility cases for tax deductions under 80D. Senior Citizens get additional benefit as highlighted in the table below:

Scenario

Deduction under 80D

Self and Family (All members below 60 years)

₹25,000

For Self and Family + Parents (All members below 60 years)

₹25,000 + ₹25,000) = ₹50,000

For Self and Family (all members below 60 years) + Senior Citizen Parents

₹25,000 + ₹50,000 = ₹75,000

For Self and Family (with eldest member above 60 years) + Senior Citizen Parents

₹50,000 + ₹50,000) = ₹1,00,000

Documents Required to Claim Tax Deduction for Senior Citizens u/s 80D

Can Senior Citizens Save Tax with Medical Bills u/s 80D?

In this case, the amount of deduction that can be claimed is as follows: 

Age of the Person availing Medical Treatment Tax Deduction Amount
Less than 60 years ₹40000/- or actual expenses, whichever is less
Senior Citizens- 60 years and above ₹100000/- or actual expenses, whichever is less
Super Senior Citizens- 80 years and above ₹100000/- or actual expenses, whichever is less

A Senior Citizen Health Insurance Plan offers not just tax benefits but a plethora of other benefits too like providing a wholesome coverage, covering expenses like day care expenses, domiciliary treatment expenses, providing a range of add-ons and lots of other benefits that not just help you save your hard-earned money but also make your access to the best healthcare a lot easier.

FAQs about Health Insurance Tax Benefits for Senior Citizens