Deduction for Medical insurance premia paid by Individual/HUF U/S 80D

Medical insurance premia paid by any mode other than cash to LIC or any other insurer up to following limits (subject to certain conditions)

■ In case of individuals, premia paid

- for self, spouse and dependent children : Rs. 15,000 (Rs. 20,000 if person insured is a senior citizen); and

- for parents of the assessee : (Additional) Rs. 15,000 (Rs. 20,000 if person insured is a senior citizen)

■ In case of HUF, premia up to Rs. 15,000 (Rs. 20,000 if person insured is a senior citizen) paid to insure any member of the family

Note: 

With effect from 1-4-2013 (a) deduction is available in respect of any payment made by an assessee on account of preventive health check-up of self, spouse, dependent children or parent during the previous year upto a limit of five thousand rupees within the existing limits prescribed above; (b) the age for defining a senior citizen is reduced from sixty five years to sixty and (c) cash may be paid on account of preventive health check up.

With effect from 1-4-2014, deduction shall also be allowed in respect of any payment or contribution made by assessee to any other health scheme (other than CGHS) as may be notified by the Central Government