5 Ways to Save Tax for Salaried Employees

It is the duty of every citizen of India to pay taxes. As a diligent taxpayer, it is imperative to know about the various deductions and exemptions allowed under various sections of the Income Tax Act, 1961. Besides, there are numerous other methods to reduce your tax liability largely.

Following are five most popular and common ways to save tax for salaried employees in India.

1. Submit medical bills to your employer on time

Most salaried individuals are eligible to receive medical reimbursement of INR 15000 as part of their Cost ToCompany (CTC). Therefore, you may claim a tax deduction for all your medical expenses up to this amount. For this purpose, you may submit all your medical bills, medical reports, lab test bills, or doctor’s consultation bills to your employer. It is important to note that such a tax benefit may be claimed only through your employer, and hence you may submit such bills to your employer on a timely basis.

2. Save tax through House Rent Allowance

House Rent Allowance (HRA) is a common component for many salaried individuals. The rules of tax deduction on HRA are stated in Section 10 (13A), Income Tax Act. The amount that may be claimed as exemption is a minimum of –

a) Actual HRA amount received

b) 50% of the salary in case you live in a metropolitan city or 40% for a non-metropolitan region

c) Excess of rent paid annually above 10% of your salary.

In order to claim deductions on House Rent Allowance, you may submit rent receipts to your employer.

3. Claim deductions under Section 10(14)

The good news for salaried individuals is that they may avail of numerous deductions as per Section 10(14) of the Income Tax Act. You may avail of deduction on children’s education allowance up to a maximum amount of INR 100 a month, per child, up to two children. Besides, you may seek deduction on hostel expenditure allowance of INR 300 a month per child up to two children. You may also claim an exemption on helper or assistant allowance as well as uniform allowance up to the amount of expenses incurred.

4. Invest in medical insurance

You may claim health insurance tax benefits on your health plan. A medical insurance plan is indeed an integral part of financial planning. Besides providing a great degree of financial security during a medical contingency, it also provides tax benefits. You may seek health insurance tax benefits on the premium paid towards your policy. You may claim health insurance tax exemptions on premiums paid for yourself, spouse, parents, and dependent children. According to Section 80D, medical insurancepremiums are exempted up to a maximum of INR 25000. In an event that you or any of the covered members are senior citizens, you may enjoy a higher limit of INR 30000. You may, therefore, avail of such health insurance tax exemptions and reduce your tax liability.

5. Maximize utilization under Section 80C

Section 80C of the Income Tax Act allows a maximum deduction of INR 1.5 lakh. You may claim a deduction on investments made in various financial vehicles such as Public Provident Fund (PPF), Unit-Linked Insurance Plans (ULIPs),National Savings Certificate (NSC), andEquity-Linked Savings Scheme, among others. You may also avail of this section to reduce your taxable income through premiums paid on life insurance plans. Besides, you may claim deductions on tuition fees paid for the education of two children.

The Income Tax Act allows for numerous such deductions and exemptions for salaried individuals. You may, therefore, avail of health insurance tax exemption, numerous investment vehicles, and HRA component of your salary, among numerous others. You may take advantage of them and lower the amount paid towards income tax.

Importance and Benefits of Cashless Policies

Earlier, insurance providers used to provide reimbursement for all the expenses borne by the insured. However, these days, most insurers offer the benefit of cashless settlement of claims. According to this arrangement, the insurance providers settle all the expenses with their network providers. You, therefore, do not have to make any out-of-pocket expenses towards the huge medical bills.

It is important to note that in order to avail of the benefit of cashless insurance, it is necessary to visit any of the providers in the insurer’s network. You may view the Third Party Administrator’s (TPAs) website to identify the comprehensive list of hospitals or garage networks, in the case of cashless car insurance.

Cashless policies entail a lot of importance. Following are the three major benefits of cashless policies.

1. Prevents financial strain

The major benefit of a cashless insurance policy is that it prevents financial burden. You do not have to bear any out-of-pocket expenses. This ensures that you do not have to run around arranging funds. Besides, there is no need to liquidate any long-term investments such as mutual funds. Additionally, you do not have to deplete your lifetime savings to meet your expenses. Since the insurance provider settles your bills you may enjoy a great degree of financial freedom.

2. Ensures that you receive quality treatment

In an event of a medical crisis, a cashless mediclaim policy helps you receive the best treatment. You may avail of excellent healthcare facilities without having to pay for any hospital-related expenses, such as domiciliary treatment costs, in-patient care expenses, alternative treatment cost, and ambulance charges, among others. All you have to do is display your health insurance card at the network hospital and fill in the pre-authorization form. The hospital will then forward the application to the TPA. Once the cashless health insurance application is approved successfully, you may receive treatment from the network hospital without making a single payment.

3. Provides value-added services

Greater the annual payouts by the insurance provider to the network companies, higher will be the negotiation power for discounts and offers. This benefit may be directly passed on to the customers. You may save a certain amount on your sum insured and utilize the same towards any subsequent event in the future.

The popularity of cashless insurance has indeed grown. You too may invest in such an insurance policy and avail of the numerous benefits it has to offer. In case you wish to opt for cashless benefit, you may buy insurance online or visit your local branch. By doing so, you may safeguard your financial well-being and have peace of mind knowing that you do not have to bear any financial burden.

Making The Best Of A Bad Situation

When it comes to money, it’s either going to be a good or a bad situation. Everyone will have gone through both sides of the situation at some point in their life. But what do we do when things go bad? We either have an absolute mental breakdown, or try and get through it as best as we can. This happens all the time, but none more so than with money. If you feel as though you’re someone going through a bad stage at the minute, just relax and take a read of these tips, they should help you get through any bad stage with money.

Ask For Help

This is usually people's last resort. They’ll try every type of loan, credit card, online advice, and before you know it they’re worse off than they were in the beginning. Don’t let this be you. Unless you’re in a good place with money, you shouldn’t really be using a credit card or loan. Credit cards are only useful for building up your credit score. The best thing you can do is ask family or friends for some short term help if you need to lend some money. They’ll have no interest rate, and you can come to an agreement of when to pay the money back so things are a little more relaxed. Whatever you do though, don’t borrow more than you can pay back just because it’s family. Be respectful and always pay what you owe back on time.

Prepare

Preparation is key if you want to get through a bad situation. As you get a little older things start to crop up that create bad situations. Health issues, pension cuts, whatever it may be it’ll cause you stress that you don’t need. As we become senior we’ll obviously understand that we won’t be round for much longer, the best thing you can do to protect you or your family is life insurance. It’s preparation like this that helps keep everyone from getting into a bad situation. This post discusses the different types of life insurance you can purchase. But whilst we’re talking about preparation, we also need to talk about other life events. Birthday’s, Christmas etc. they all require a lot of money, especially if you have children. This is where the dreaded credit card can get you into trouble unless you’ve prepared. Work out how much you’d like to spend on each event and make it strict. Then divide the money but between the amount of months until said event, and begin to save. It’ll help you out so much in the long run.

Don’t Stress

Money is one of the leading causes of stress and anxiety for people all over the world, but this only makes things worse. There are so many people out there that can help you get out of the situation you’re in, so don’t bottle it up and stress yourself more, talk to financial advisors, or even friends and family and get the situation resolved.

Doomsayer Or Life Saver? The Value Of Considering The Worst Case Scenario

Thinking about illness, disability, and even death isn't something that most of us enjoy, especially when it relates to ourselves and our nearest and dearest. In fact, if we become too preoccupied with this we can easily be accused of being morbid, pessimistic, or a doomsayer. However, there is value in running the worst case seniors through your mind, as it can help to ensure that you and your family are financially protected if the worst does happen. Read on for more information.

Illness

We all get sick from time to time, whether it's the flu or a horrid cold. However, some folks suffer from medical conditions that are a little more serious than that, ones that can be painful, problematic, and even life-threatening. Of course, being sick in such a serious way is often a strain on your finances as you have to pay for treatments to improve your condition or minimize its effect on your day to day life. 

To prepare for this is pretty vital that you have private medical insurance available both for you and for your entire family. Yes, this is often very expensive, but it is still cheaper than medical bills that can run into hundreds of thousands if the worst does occur.

Remember too that as the different hospitals are allowed to charge whatever they like for treatments, not having medical insurance can put you in the vulnerable position of not being able to pay the bills. Even if you have some savings tucked away for a rainy day. Something that you don't want when it comes to yours or a loved one's health. 

Disability

For some folks, an illness may lead to disability, and them not being able to earn a wage from work. For others, it may be a condition that they have been born with. Although, whatever the reasons being without an income can make life extremely difficult. 

To assist with this, the Government have put in place a service known as social security disability (SSD), designed to financially assist those that cannot work to support themselves. Unfortunately, the system is under so much stain at the moment that less than half of all applicants are granted official aid on their first request. Something that makes it vital that you also take out private insurance against disability as well. This process like any insurance purchase can be complicated, and you can check out this post on disability insurance coverage options for some help in choosing the right policy. Remember picking the right policy is vital as it could mean the difference between being able to provide for your family or struggling financially. 

Death

Death, the only certainty in life, apart from taxes that is! It's not something we want to waste too much of our time thinking about. However, when we have debts and responsibility to our families to worry about members, it's vital that we risk being called doomsayers and ensure that we are covered financially for this eventuality.

The way to do this is of course by getting life insurance. Doing so can protect your assets and make sure that your family are able to continue to live in their home and be provided for, even if you're not there to be the main breadwinner. Something that makes life insurance a real lifesaver, even if you have to get a little morbid to consider it.

Don't Let Healthcare Haunt Your Finances

It’s sad to live somewhere that makes healthcare one of the most expensive parts of your life. So many other countries have affordable healthcare options for everyone, meaning they worry less when a problem happens. Here, if we get a serious illness or injury, it costs thousands of dollars to pay for the treatment. There are even some tragic stories of people fighting cancer and being forced to admit defeat because they can’t afford the medical treatment.

The reality is, for the majority of the population, healthcare haunts our finances. As a consequence, we need to do everything in our power to make any healthcare costs as cheap as possible. What options do you have? There are some, and I’ll talk you through them in the points below. 

Purchase An Affordable Insurance Plan

Health insurance is pretty much essential for people nowadays. You need to have some type of insurance plan if you want to avoid paying through the nose for medical bills. With insurance, certain treatments might be covered, meaning you won’t have to pay for them. The amount you pay for your insurance can often be a lot cheaper than the treatments you have to pay for, which is why it makes sense to take out a plan. Different people are best suited to different health insurance plans, so there isn’t a one solution fits all option here. You need to do the research and find the right one for you.

Always Think About What Caused Your Health Problem

There are plenty of health problems that just happen over time because of the way your body is, or they’re down to genetics. Then, you have problems that might have been caused by other circumstances. Great examples that come to mind include breaking your bones and getting severely injured because you were involved in an accident of some kind, or ending up with health issues thanks to exposure to things like asbestos. In both scenarios, you end up in hospital, with high medical bills, thanks to circumstances out of your control. You don’t have to be a personal injury lawyer to know you’re entitled to compensation if you get hurt in accidents that weren’t your fault. Likewise, if you’ve been exposed to dangerous things at work - like asbestos - you could sue your company. My point is, by looking at what caused your problem, you might find that you’ve got a chance to earn compensation to help cover the medical bills and save money. 

Take Care Of Your Health

Finally, this seems like a silly point, but it’s definitely something that can save money. If you take care of your health, you will avoid being subjected to a lot of different health problems. Eating a healthy diet and being active prevents so many problems such as heart disease, obesity, and lots more. This makes you less likely to end up in hospital needing specialist treatment for certain health issues. It’s a clever way of tackling some health problems that can easily be prevented.

As you can see, there are ways you can try and cut down on your medical expenses throughout life. Otherwise, healthcare will haunt your finances forever, and cost a lot of money in your lifetime.

Choosing the Right Medicare Health Plan

Medicare health insurance may or may not be the only type of health coverage you invest in, but it is often wise to make it at least a part of your overall health-protection plan. And today, you can consolidate your coverage with a Medicare Part C Plan, that integrates private and government based insurance, instead of only having the A & B “original” Medicare as an option.

To be an informed health care shopper in today’s marketplace, you should at least be aware of the basics on what different Medicare plans have to offer. Here is some help to get you started in choosing the plan that is best for you.

What Does Medicare A Cover?

The “original” version of Medicare includes just A & B. Part A is your hospital insurance coverage. It will only cover those medical services considered “medically necessary” to treat a specific disease/condition you are suffering from; but neither is it limited to hospitalizations only, as the term “hospital insurance” might seem to imply.

Beyond hospital expenses, Part A can also cover home health & hospice services, nursing home care, and skilled nursing facility expenses. But again, covered care must be a medical necessity to qualify, and that’s where you’ll need to dig deeper into the details of Medicare’s many rules as you continue your research.

What Does Medicare B Cover?

Part B is Medicare’s “medical insurance.” This covers the diagnosis and treatment of health conditions, when medically necessary. It includes reasonable preventative care as well as treatments.

Here are some examples of what Part B will help you with: ambulatory care and transport, certain pieces of medical equipment like oxygen tanks and blood-sugar monitors for diabetics, doctor’s visits, mental health services, and to a rather limited degree, prescription drugs.

And What About Medicare Part C?

It’s true you can actually add prescription drug coverage to your Medicare via Part D, but one of the best ways to cover your pills and drugs is through Part C. Part C will give you all that Parts A & B will, only more.

The beauty of Medicare Part C plans is that they allow your private insurer to manage and distribute to you your Medicare benefits, which creates competition (always good for getting a better deal as a consumer!)

Plus, you bring all your health insurance elements (hospital, medical, and drugs) under a single comprehensive plan, which can still be customized to your exact needs and budget. You may be able, for example, to create a plan that cover Limitless Pill Alternatives or all of the prescription drugs you currently take or foresee you may need down the road. The possibilities are “multitudinous” if not quite “endless.”

What to Do Next

So you decide you want Medicare coverage or you want to switch over to a Part C plan from your current Medicare? Now what? It’s time to dig down into the details by talking with a Medicare health insurance expert. 

They can help you see the benefits of a Medicare Advantage Plan (Part C) more clearly and help you optimally customize your plan. Ask any Medicare-related question you like, and your agent will be able to get you the answer and help you make a truly informed decision.

How Funeral Insurance Brings You Peace of Mind

Not everyone wants to think about death, but arranging a sufficient amount beforehand for this inevitable expense is extremely important. You do not want your loved ones to worry about the costs when you depart. Many people keep their savings in bank account in order to make up for the funeral costs. However, the account is sealed when the owner dies and the beneficiaries have to verify their identity to access the funds and this requires time and a whole lot of formal procedures. Funeral insurance policy is a relatively new method of arranging funeral funds.

A funeral policy has certain terms and conditions that specify the rules for payment of premium. You can qualify for a policy depending on your age and health condition. Premium usually increases as you grow older. However, every insurance company has its own set of rules. You can protect your family with insurance by saving them from paying off your debts and funeral expenses.

Why You Should Totally Get Insurance?

Funeral insurance should not be limited to old people only, considering its benefits to the family. The burial costs are approximately $12,000 depending on the services you acquire. A monthly premium is specified by the insurance provider of your choice. If you do not choose the right company, you will end up paying more than the actual required funds. By making the right choice, you can be at peace knowing that your family won’t face any monetary difficulties after your departure from the world.

You cannot avoid the increasing costs when saving up for your funeral. Saving up the amount in your bank account may not cover the whole expenses. Reliable funeral insurance helps you get rid of such uncertainties. Professional companies consider the inflation factor when specifying premium. In order to get a realistic estimate, the insurance providers consider various factors. They take into account the age of person, health condition, life expectancy and other similar factors.

Potential Risks:

Along with its benefits, funeral insurance policies have certain risks. Let’s have a look at them to avoid making mistakes.

• If you do not choose the right insurance policy, you may have to pay much more than the actual funeral costs.

• You may have to pay a higher premium if you smoke.

• Monthly premium depends on your age, gender and health.

• No matter how much you have already paid, the service provider will cancel your insurance policy once you stop making payments.

• Insurance premium may increase periodically. The company will revise it on the basis of its terms and conditions.

• If you die within a year or two after getting insurance, your family cannot claim the funds. They will only receive the premium amount you have paid.

Many people save money for their family that can help them after their departure. However, they forget that the bank accounts are sealed and funds are accessible only after their will is sorted out. Insurance policy is a reliable method to cover up for immediate expenses. Your family will not have to worry about funds since they will receive them without any delay.

Just How High Is The Price Of Your Health?

You might be surprised to learn just how expensive staying healthy can be. In fact, medical bills are one of the most common causes of debt in America. That shouldn’t surprise you because the costs of medical procedures can be incredibly expensive and may not be fully covered by insurance. For instance, You might need a heart transplant. That will cost you close to a million dollars! They never mention that on Grey’s Anatomy, do they?

Of course, if you have insurance you can soften the blow a little, but you won’t get rid of that price tag completely. You will be expected to pay some of it out of your own pocket. Is it any wonder why people end up in debt?

Now, you might say that you could just avoid expensive medical treatment. Perhaps, you can had to a free clinic? But, what if you need emergency medical care? You may not have asked for it, but they will certainly charge you for it once you leave the hospital. So, how can you make sure that the cost of your health doesn’t grow out of control.

Find The Right Insurance Plan

The first step you need to take is to look at different insurance options. Insurance is in shambles at the moment. People know there’s issues with Obama Care, but they don’t want the plan completely removed. Meanwhile, the government are struggling to get their own plan approved because it completely obliterates Obama Care. The basic idea behind the government’s plan for health care is to completely privatize insurance. This would mean that you could choose your own health insurance provider from any state and find the best price. You can find out more about healthcare coverage on SBS.com.au.

Whether you can do this or not, you should be looking for the best company available. You might even want to choose your job based on who provides the best health care. Some companies do offer health insurance as a perk for their employees. 

Holding People Liable

Let’s say that you were injured in an accident and sustained serious injuries. You should make sure that you hold the people who were responsible liable. There is always someone accountable for an accident. For instance, you might have suffered an accident on someone else’s premises.

If that’s the case, under premises liability, they are accountable. Or, you could have suffered an injury due to a product or service you used. In this instance, the business that provided that product may be liable. You can visit BradfordLegal.com.au for more info or look at any other personal injury site. There, you should be able to discover your rights in different situations and find how you can claim compensation.

Looking After Your Health

Of course, perhaps the best way to save money on health care is to look after your health. When you apply for health care coverage, you will be judged based on your physical condition. That’s why financially, it’s in your best interest to stay fit and eat well. Try to keep a good weight because this will make you less likely to develop some of the more serious and costly medical conditions. If you do this, you should find that your bills related to health are a lot cheaper and easier to handle.

Investments You Should Never Overlook

Whenever you hear the word invest, most people immediately start thinking about stocks, shares and Wall Street. They think about the impossible to read graphs that change on screens, and those figures with decimal points , flashing above manic trading floors, figures that jump up and then down and the back up again. But stocks, shares and even currency are just some of the ways you can invest.

There are multiple other ways in which you can invest your hard earned money, ways you never knew existed, and investments avenues that you never considered to be investments. What’s more, they are all far less complicated and far less risky than stocks, shares and currency.

Invest In Your Debt

Investing in debt is the best investment you can ever make. Period. It may not feel like you are actually investing anything, but when you consider how much you will save in interest and repayments, you’ll reconsider your prior stance. So if you have a mortgage, or credit cards or even a student loan, take that money you were going to invest elsewhere and invest it here. Let’s say your credit card is charging you 10% interest, well by paying that off you are effectively making an investment that yields a 10% return. That is a fantastic return, that is more than most investors hope to make. What’s more, you won’t get taxed on it, and there are no risks attached to it. It is an investment that comes with a guarantee, and that is rare.

Invest In Healthcare

So many people don’t realise that it is possible to invest in the healthcare sector, but it is, and it can be financially rewarding too. Of course, there are a lot of variations to take into consideration, but there are also a lot of trends that can make this investment safe. For example, there is the aging population of baby-boomers, and the fact medicinal advancements have seen people with chronic diseases live for longer. Then there are the high rates of medical loans and the fact that the industry is seeing huge technological advances, as well as the sudden focus on more personalized medicine. It may take some researching, but healthcare is a huge priority for almost every government and every facet of society, and that makes it a good investment option.

Invest In Property

Bricks and mortar have been a very desirable investment for years and that is because it is an investment that is tangible, an investment that serves a purpose and an investment that will always command a demand. If you buy and the market drops, then you either live in your home or you rent it out. If you buy a property and the market booms, well, your investment is going to skyrocket. But don’t think that investing in property is all about buy a house, or increasing your portfolio because it isn’t. Investing in property could just as easily mean renovating your home, or adding to it as a means to increase its value. As such, property remains one of the safest investments out there, and one that will always be encouraged by us.

Need Help With Medical Expenses? Read This Now

Not everyone is able to get adequate health insurance. If you've found yourself in desperate need of help for covering medical expenses, you do have options open to you. These are some of the routes you may want to explore.

Medical bill advocates

If you’ve been given a hefty medical bill, then there are people out there you can hire to have your back. These people are called medical bill advocates. They’re experts when it comes to assessing everything on a medical bill and finding areas in which costs can be cut. They can help you dispute payments that aren’t actually necessary. (And yes, sadly, this does happen. Care providers may bill you for things unnecessarily just so they can get more profit.)

Getting a loan

For some people, this may seem like a bit of an extreme option. But sometimes it may be necessary to simply take out a loan. The fact is that medical bills piling up that aren’t being paid is extremely bad. Not only can they increase in price the longer you leave them, but they can affect your credit score. You might be better off looking into personal loans than finding yourself drowned by medical debts.

Compassionate crowdfunding

You’ve probably heard about online crowdfunding. For the most part, the famous crowdfunding successes are found in the entertainment industry. But that doesn’t mean there aren’t plenty of successes found in humanitarian causes. You can set up a crowdfunding page if you’re in urgent need of financial assistance for medical bills. One of the problems with this route is that, to get the most financial potential, you have to market your campaign a little. That can be a little too strange for some people!

Support groups

Are there any support groups out there for the problem you’re facing? Perhaps the most famous example here is that of cancer. There are support groups out there for pretty much any kind of cancer. Some of these support groups use donations and government funding to assist those struggling with medical bills. This isn’t guaranteed, of course, but it’s definitely worth looking into.

Government programs

Yes, the government are the ones responsible for allowing people to get into huge medical debt in the first place. But that doesn’t mean that you can’t turn to them if you’re in desperate need of help. In America, for example, you may be eligible for Medicaid, even if you’re not on a low salary. And no, Medicaid and Medicare are not the same thing. People who can’t get one may still be able to get the other!

Filing for bankruptcy?

This is, as you can imagine, the most extreme option available to you. (Well, unless you’re planning on breaking bad. But don’t do that.) More than half of all bankruptcy claims are tied to health care expenses, so you’re not the only one who may consider it. But if things are really bad, and you’re willing to take the hit on your credit score, it might be an option. Chapter 7 bankruptcy is likely to erase your medical debts.

Health Insurance - A Perfect Gift for your Parents on their 60 th

Health is one of the major assets that need to be kept in regular check; especially when a person is at the age of 60 years. The risk of diseases and health related mishaps are very high at this age due to weakness in the body and slowness in every activity.

Senior citizens require more attention and care, which is why, health insurance policy, is vital to keep things secure in case their health turns severe and critical. Diseases such as Diabetes, TB, cancer, depression, heart attack, cardiovascular ailments and brain related diseases are common and lead to high medical expenses at such an age.

Importance of health insurance at the age of 60

Health insurance is a helping aid at the time of urgent need and emergencies that can occur at any odd hour. There are individual insurance policies that are provided by various private and government firms/companies for senior citizens.

If you want a health insurance policy for your aging parents, such plans and policies can be customized easily as per your budget and need.

These policies are necessary for countless reasons; out of which major ones are:

• These cover all the medical and treatment expenses and do not eat up your entire savings.

• There is absolutely no need to worry about cash or other payments as cashless policy allows you to focus on the treatment and health of your parents than on anything else.

• Unforeseen expenses, which arise during treatment, can also be taken care quickly.

•  These cover all the hospitalization charges within 24 hours of an emergency. You are required to fulfill all the documentation formalities to claim this cover. The hospitalization charges that include following things are covered entirely under such policies.

1. Room or Bedding charges
2. ICU or emergency
3. Nursing or Doctor or surgeon’s fees
4. Medicines and required treatment charges
5. Future checkup and medical bills
6. Private Ward charges
7. Health Tests charges that are done on daily or routine basis

• These health policies do support health consultation expenses as well, so that you are tension free during continuous doctor’s visit.

• Pre-existing diseases are also covered under such health policies.

Medical conditions that parents can develop at the age of 60

Your parents need more attention after the age of 50 years as body changes with the time and growing age. The medical conditions that can arise are:

• Bones and joints problems: The major diseases that are common in the elderly are:

1. Osteoporosis
2. Arthritis.

• Eyes and Ears problems: Diseases that your aging parents might experience at this age are:

1. Cataracts
2. Glaucoma
3. Retinal infections/disorders
4. Presbyopia
5. Myopia
6. Hearing problems
7. Tinnitus
8. Presbycusis

• Digestive Problems or gastrointestinal problems increase as digestion weakens in this age.

• Urogenital Problems: The problems that occur are:

1. Prostate Cancer
2. Benign Prostatic Hypertrophy
3. Incontinence or, loss of bladder control

• Skin Related problems like dry skin, patchiness, and eczema are the complications that arise in this age.

Choose HDFC ERGO Policy that provides the best coverage for pre-existing diseases

HDFC ERGO Health Suraksha policy is an ideal health insurance policy for your parents at the age of 60 that provides mentioned key benefits:

• You get cashless claim service at more than five thousand hospitals in the country.
• There are absolutely no sub-limits on room/bedding charges, doctor’s fees, hospital charges and other daily medical expenses.
• There is a special benefit called “AYUSH Benefit” that is purely a reimbursement of medical expenses under Homeopathy, Siddha, Ayurveda or Unani treatments.
• You get a rebate under Income tax sec 80(D).
• Daycare practices expenses are completely reimbursed in listed 144 centers.
• Expenses that you bear for treatments that are taken at home are also covered.
• Pre-hospitalization charges up to 60 days are covered in this.

You can avail HDFC ERGO health Suraksha policy online.

How to Opt For an Online Health Insurance Policies?

Nowadays health care is very expensive. Even the health supplements and simple consultation are very costly. And in an unexpected situations such as sickness and accidents the condition get even worsen and the bills are quite expensive. Fortunately we have health insurance which can take a lot of burden from your shoulders and helps to assist in the unexpected situations. And if you wish to enroll in a health insurance policy then there are many online health insurance sites to assist you.

There are few tips and the benefits of regarding choosing an online health insurance policy.

Online health insurance quotes

It is the estimated amount of the money that you will spend to get insured under this insurance. If these quotes are provided to you through internet then these are known as online health insurance quotes. These quotes are offered to you by the insurance companies. All these services are free of charge but there are few sites which will charge you with the fee. Avoid those kind of sites and switch to the others.

Health insurance plans

There are several types of family and individual insurance plans available for those who are searching online. You may be surprised by the affordability and variety of these health insurance plans which are being offered on the internet today. Today it is very important to have health insurance coverage because there is no defined time of accidents and expenses and it can put a lot of burden on you and your family budget. There are several national health insurance companies on the internet which will provide you with instant quotes on all types of insurance plans.

There are different health insurance plans online and if you don't know about the plans then you can check the website of the company. A renewed site is definitely going to offer you with the complete details of the plans or you can take the assistance of the customer support. If you will learn about the types of the different health insurance policies then it will get easier for you to get the health insurance coverage at the least cost. Therefore it is best to look out for such schemes and enjoy the benefits of those policy.

Online policy premium payments

Once you have selected your health insurance plan provider, you can do many more things online. You can make payment of insurance premiums that too in a safe and secure way online. An acknowledgment receipt for the same is also forwarded to your email id within seconds for your reference. Your online health insurance policy will not only cover you against the unexpected health concerns in addition to your routine and preventive health needs and it will give you the reassurance that your health is taken care in the best possible way.

Reading the above mentioned benefits of online health insurance policy then you would be keen on purchasing a health insurance policy that would satisfy all your needs.Wait no longer, just go online and begin your search for the ideal health insurance cover. At a time you can have the quotes from the two - three companies and compare the prices of those companies. After that you can easily decide what your next step is.

Experts in the health insurance company suggest that getting the quotes first is the best move you can make. You can also decide which insurance quotes suiting your capabilities for your pay package, preferences and needs. There are so many companies present online and with a little research you can definitely find the best company. Thus you are able to ensure that you are getting the right cover for the individual needs at a price that meets your budget.

The ABCs of Health Insurance

As uncomfortable as it is, the health insurance is one of the issues that we all must ponder on sooner or later. With the uncertainties of life, considering the prospects of health insurance, its pros and cons and finally, opting up for one is sometimes a difficult choice.

In Australia, health care is universal, meaning that the government takes care of a large percentage of the medical bills in public hospitals through Medicare - Australia's public health care system. The mode of coverage is expressly provided under Medicare benefits schedule, and in most cases, the residue of the medical bills is settled by the patient. In most instances, 100% of inpatient costs are covered by the government, and 75% are covered for general practitioner, whereas 85% of specialist services are covered.

There is the government-owned insurer called MediBank private. As a matter of fact, there are about 3,000,000 million Australians that are insured with Medibank. At Medibank, you can access three main types of medical covers. They include: hospital cover (where the services could range from basic to comprehensive hospital cover), extra cover, and Ultra health cover.

Nonetheless, life insurance is a broad field which cannot be left in the hand of the government alone, because it goes beyond just settling medical bills. As such, Medicare does not cover everything, and that is why people are strongly encouraged to look for private health insurance cover as well. That is why there are private health insurance companies, which are mostly run by private investors. There are about 36 registered private health funds in Australia registered under Private Health Insurance Act 2007.

The Australian government strongly encourages people to take private health insurance cover by offering the following incentives:

1. If you take a life-time health cover after 1st July following your 31st birthday, you are subject to a penalty of 2% premium loading per Annum. The loading premium runs for ten years, and only applies to hospital covers.

2. There is an arrangement where those who earn above certain taxable income bracket (above $80,000 as was the case in 2012) are forced to pay 1% surcharge aside from the 1.5% medical levy they have to pay if they don't hold a Medicare card. also, those who are entitled to reciprocal Medicare card, but don't have Australian domestic health insurance are also subject to the above levies. This is a federal government's initiative to encourage people to take health cover if you want to avoid paying the above levies.

3. The federal government offers what is known as private health insurance rebate. Those who have taken an Australian domestic health insurance and are eligible for Medicare can claim the rebate. The rebate is designed reduce health insurance premiums which cover hospital cost and other miscellaneous costs.

The question many people tend to ask is: why take a private health insurance cover, whereas Medicare cover exists?

To answer this question, you need to understand that Medicare only takes care of public hospital bills and not private hospitals. Moreover, Medicare does not cover auxiliary costs like ambulance transport, dental care, optician fees, physiotherapy costs, and so on. It is only private health insurance that can offer you the options which suit you and your needs.
What about temporary health cover?

Temporary health cover exists for visitors who hold temporary visas such as students, business people, and contract employees from overseas. Such visitors are normally asked to consider taking Overseas Visitors Health Cover (OVHC). Some visas such as Visa Subclass 457 require you to take an insurance cover before you can obtain it. On the other hand, overseas students in Australia are required to take Overseas Student Health Cover (OSHC) during their visa application.

In addition, visitors from some the following specific countries are under reciprocal health care with the Australian government. They include:

1. United Kingdom
2. Sweden
3. Belgium
4. Finland
5. Italy
6. Malta
7. The Netherlands
8. Slovenia
9. The Republic of Ireland
10. New Zealand

Under the reciprocal health care arrangement, the visitor is entitled to receive free emergency medical attention in public hospitals. Otherwise, for any other benefit, the visitor should seek Visitors Health Cover (OVHC).

However, reciprocal health care arrangement for visitors from the above mentioned countries does not include students from those countries, because students are covered under Overseas Student Health Cover (OSHC).

In the end, whichever health cover you want to take, take some time to understand whether it will be able to cover your needs. Study the options carefully, bearing the future in mind. After all, choosing the right health insurance will provide the coverage in case of predicament.

Tim Phillips enjoys spending his time reading about ways of making our life simpler. As a blogger, he likes sharing his knowledge about health insurance and other financial issues.

How to live without healthcare

Many Americans remain to be without a reliable health insurance. And th healthcare bill that was just passed the congress and signed by the president is yet to be implemented in many States. Also many experts and critics believe the healthcare reform comes short. So it seems that many Americans will continue to be without a viable healthcare for a long time due to back economy.

If you do not have health insurance and need to see a doctor or a dentists, there are a several things you can do

1. Work out a payment plan; Most doctors and dentists have in house financing or are open to flexible payment plans if you work out a cash deal with them. Cash is king and there are some doctors and dentists are willing to work out a better payment plan with you if you can't pay everything on time; A good example is San Diego Dentistry that works with local San Diego residence on interest free monthly payment plans as long as they pay in cash or money orders.

2. Borrow Money; If your doctor or dentist is not willing to work out a payment plan with you, then borrowing money is an option. Whether it is a personal loan from a friend or family member, or a loan from credit union, banks, and other type of lenders. It may be a better idea to borrow money to pay for your medical bills in order to avoid collections and damaging your credit.

3. Look for free clinics and doctors'; There are a plenty of clinics across the country. Look for near your town.

4. Continue looking for a better job; If you are employed but your employer doesn't provide you
healthcare, keep your options open and continue looking for a better job that does offer you health insurance.

5. Save money for health insurance; You will be amazed how far saving a few dollars a day can go. Unless you have a critical pre-existing condition, you should be able to but a descent health insurance policy.

6. Take advantage of Emergency rooms; Hospitals legally can't deny you if you have an emergency. So if you have a medical emergency or have an existing condition that would justify it to be emergency, report to your local hospitals emergency room. They will send you the medical bill later in which case you can work out a payment plan and they often accept because they don't have any other options.

You must take your health and well being seriously and if you don't have health insurance, there are alternatives where you can still get the quality healthcare you need affordably.