Healthcare Initiatives Announced in Union Budget 2018-19

Modicare: Rs.5 Lakh Health Cover for Each Family

The Union Budget 2018 witnessed the announcement of a mega healthcare programme for the poorest segment of the society. Two new initiatives have been announced under the state-run scheme of Ayushman Bharat Programme. The new initiative named “National Health Protection Scheme” will provide health insurance coverage worth Rs.5 lakh per year for about 10 crore vulnerable families in the country. It is estimated that about 50 crore individuals will benefit from this grand scheme, which is commonly dubbed as ‘Modicare’. Finance Minister Arun Jaitley also announced the development of over 1.5 lakh health and wellness centers that will provide free medications and diagnostic services for poor families.

 

Tax Benefits for Senior Citizens in Union Budget 2018

Various tax rebates have been announced for senior citizens enrolled in health insurance plans. Under Section 80D of the Income Tax Act, the limit of deduction for senior citizens has been increased to Rs.50,000 from Rs.30,000. Senior citizens also received benefits under Section 80DDB of the Income Tax Act. In the previous budget (Union Budget 2015), the deductions for medical expenses was Rs.40,000 for senior citizens and Rs.60,000 for very senior citizens. As per the announcement made on Union Budget 2018, this deduction has been increased to Rs.1 lakh for both senior citizens and very senior citizens.

 


25 thoughts on “Healthcare Initiatives Announced in Union Budget 2018-19

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  1. The step taken by FM is really appreciable to forward the health services to the poor. But I would like to ask the FM that their is no Medical Healthcare Insurance and term insurance for the Heart Patients. I have tried almost all the Insurance companies but no one is giving and medical Insurance and Term Insurance to me as I have Stent implant in 2015 and I am on regular medication for Heart & Diabetes Ailments.

    Can the Honorable Finance Minister look into this matter.??????

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    2. Mr Kumar, sorry to know that you are a heart patient. Prayers for your good health but I’m unpleasantly surprised that you realize the value of an insurance after having these conditions. You should have taken when you were healthy. Please spread awareness in your vicinity about the importance. I work as an insurance professional and I see people are overconfident that nothing will happen to them. But when something happens, their attitude changes. After a disaster, which company would like to take a risk? You can’t blame them. I’m sure you were contacted by agents or companies before your complications arose. It’s just an opinion, I may be wrong. Please don’t take my words in the wrong way.

  2. A very good initiative by the government… But as per the current Hospital tariffs plan it seems less. My advice there must be a fixation of cost and therapy for a disease

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  3. Its is a Good initiative however i would like to suggest govt to provide health ins to every person above age of 65 and it should be very very less but not free

    Regards,
    Baljeet

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    1. For all your Investments and Insurance Related Queries :- I am here to help you.

      Investments :- Mutual Funds, NPS, Fixed Income

      Insurance :- Term Plan, Health Plan, Vehicle Insurance

      Leave your contact no. or you can get in touch with me on below given number.

      Warm Regards

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      (AMFI & SEBI Certified Financial Advisor)

      Mob No: 8700921855
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  4. Good initiative by the Government and it will help lot of people in our country. But lots of poor people don’t aware about this new medical cover scheme… and they don’t aware how to avail this benefit, like, what is the process they supposed to follow…. where to begin… Government’s mass initiative in “Guide lines” program will further helps lot…

  5. I request our honourable prime minister to start a term insurance from post office for 100 years.this will definitely improve the standard of living in india

  6. sir all india development need.and who person starting without support stragal poor and do work and today PM as a person this time india p.m know very well poor pepoles problem know very well and taxes resource income of gov and lunch many project. so support our gov.

  7. Did anybody knows that how the people will apply and process to be taken for this govt. Initiative.
    Please reply

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