A preventive health check can help you cut your tax liability

Most of us are aware of claiming tax benefits for a health insurance policy, but did you know that a preventive medical check can also be claimed as part of the overall deduction? This is besides the fact that a regular health check keeps you from spending lakhs on an illness that could have been diagnosed earlier. 

With lifestyle diseases such as diabetes and heart disease on the rise across age groups, getting an annual health checkup from a reliable centre such as SRL Diagnostics can help in preventing  medical shocks. Getting a tax break on this expense comes as a bonus.

Imagine finding out that your or a family member’s sugar levels are out of control or suffering an unexpected bout of chest pain which lands one in hospital? A preventive health check is recommended for everyone to avoid such health risks alongside hefty medical expenses.

Tax Benefits on Preventive Health Check-Ups

Here’s how a tax deduction for a preventive health check works. The expense has to occur in a particular financial year and can be for self, spouse, parents and dependent children only. The amount that qualifies for deduction is up to a maximum of Rs 5,000 under Section 80D, which is part of the overall limit of Rs 25,000 for individuals and Rs 50,000 for senior citizens for mediclaim or health insurance premium. Therefore, if you have not exhausted the Rs 25,000 limit, it’s a good idea to utilise the balance by undergoing a preventive health check. For instance, if you have paid a premium of Rs 20,000 for your health insurance and undergo a health check-up for Rs 5,000, then the total amount of Rs 25,000 can be availed under 80D.

You may also check if your medical insurance policy offers free preventive health check-ups to avail this during policy renewal. Even if you don’t have health insurance, you can still choose a preventive health check-up package for yourself and family. Thus, you stay ahead of any impending medical issues and enjoy tax deductions as well.

How to choose the right health checkup package

When you choose a reliable centre or laboratory such as SRL Diagnostics for your preventive health check, you can be assured of getting a valuable assessment of your probability of any medical risk, besides early detection of any potentially life-threatening health condition and monitoring of pre-existing conditions, thus increasing your chances for receiving early treatment, if necessary. 

An annual medical checkup is advisable at any age, especially given the stressful lives we lead, but it is especially recommended for those aged above 40 years. This helps in screening a variety of lifestyle diseases that are considered “silent killers”, such as diabetes, hypertension, heart or cardiac diseases. An annual eye exam protects you from loss of vision. Cancer surveillance remains a priority when it comes to early diagnosis and treatment. 

Making sure you schedule a preventive health check-up annually allows you to deal with a potential health risk at an early stage, when treatment is still possible. A tax benefit is an added advantage. Pick a suitable package from a reliable and trusted centre like SRL Diagnostics and protect your health now!