Health insurance premiums are deductible on federal taxes, as these monthly payments for coverage are classified as a medical expense. The general rule is that if you pay for medical insurance with out-of-pocket money, then you would be allowed to deduct the amount from your taxes. What is medical insuranceRead More →
While you can get regular health insurance when you are pregnant, you will not be able to get maternity coverage as most companies consider pregnancy a pre-existing condition. This means you will need to undergo a waiting period before availing coverage under a maternity health insurance plan. Is pregnancy coveredRead More →
The compulsory social insurance model (based on the Bismarckian sickness funds system) has formally upheld the principle of universal access to care, while seeking to mobilize resources given the narrow tax base, to safeguard health-care funding flows, and promote strategic purchasing. What does a basic medical policy cover? Basic MedicalRead More →
Under Section 80D of the Income Tax Act, 1961, we can avail deduction for health insurance premium paid for self, spouse, dependents, children, and even parents. Does health insurance come under 80C? Premium paid for life and medical insurance policies can be used to claim tax benefit under Section 80CRead More →
Premium paid for life and medical insurance policies can be used to claim tax benefit under Section 80C and Section 80D of the Income Tax Act. Normally, the total amount that a person pays to buy/ keep in force a life or medical insurance policy also includes the GST paidRead More →
Medical malpractice insurance covers physicians for claims resulting from allegations of wrong site surgery, misdiagnosis, surgical errors, medication errors, childbirth-related injuries and other claims of wrongdoing. Why do doctors need malpractice insurance? Professional liability insurance, commonly known as medical malpractice insurance, can protect a doctor from a lawsuit that couldRead More →