Money talks: As claims double and health insurance premiums rise, use these tips to save your money

New Delhi: It all started with COVID, followed by steroid-induced mucormycosis, then monkeypox and now tomato flu – India has been witnessing the emergence of a host of contagious diseases since 2020. As As the number of patients increases, hospitals will be forced to ramp up their infrastructure and, in turn, they will pass the burden on to patients. It doesn’t stop there. Health insurance companies are also increasing their premiums in order to run a sustainable business.Also Read – Maharashtra Launches Free Travel Scheme For Citizens Over 75: Here’s How To Benefit From The Service

According to The New Indian Express, data shared by insurance aggregators shows that there has been an increase in premiums across all age groups, with a peak average increase of 36% in the 18- 30 years. In the rest of the age groups, the report says, premiums have been increased by 20-25%. Also Read – Covid-19 Tally: Delhi Reports 702 New Coronavirus Cases, 4 Deaths


  • Lock in inferior health insurance plans as soon as possible by purchasing a 3-year plan. When you do this, you will get an initial discount of 10-15%. Plus, you won’t have to worry about rising premiums in the near future.
  • Tax Benefits: According to Section 80D of the Income Tax Act, you can claim a deduction of up to Rs 25,000 for health insurance premium. In the event that you take out 3-year health insurance, you can spread the cistus over 3 years and claim each year.
  • If you are in the younger age group, your options are more numerous. You can compare the premiums of insurers and ports to those that offer lower premiums as well as the same or even better benefits offered by the original insurer.
  • If you are a senior, you may face certain restrictions. You should search for a better premium plan only if your current premium plan is unaffordable. Plans for seniors often come with rent sub-limits and a disease-specific cap. A sub-limit is an additional limit to the coverage a health insurance policy places on certain medical expenses. These medical expenses are covered within the policy’s initial coverage limit, i.e. the sum insured, according to
  • If you are in a situation where you can neither afford your original insurer’s renewal premium nor the premiums for comparable products from other insurers, you may want to consider policies that offer voluntary deductibles. Voluntary deductibles include a small amount that you agree to pay out of pocket in the event of a claim. This lowers the premium.
  • Opt for hospitals in the network: Some insurance companies offer discounts to a network of preferred partners (hospitals). Moneycontrol quoted Amit Chhabra, head of health and travel insurance,, as saying your premiums could be 15% lower, but with the limitation that you seek treatment from a select list of hospitals.

Also Read – Man tests positive for monkeypox, COVID and HIV at the same time. He reported THESE symptoms…