Do You Need to Report Health Insurance Premiums?

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When you file your income tax return, you should report your health insurance premiums to claim deductions under Section 80D of the Income Tax Act, 1961. This is a way to reduce your taxable income. You can do this by declaring the premiums you paid for health insurance policies that cover you, your spouse, your children and your parents.


When you report your health insurance premiums, the amount of deduction you can claim depends on who's covered under the health insurance policy and how old they are. Read on to learn more about how this works and what you need to know.


Which Policies Allow You to Claim Deductions on Reported Health Insurance Premiums?


When you report your health insurance premiums, the amount of deduction you can claim depends on who's covered under the policy and how old they are:


1. Individual Health Insurance Policies


If you report premiums paid for health insurance that covers you, your spouse and your dependent children, you can claim a deduction of up to ₹25,000 in a year. If any insured member is a senior citizen, you can increase this limit to ₹50,000 for health insurance premiums.


2. Family Health Insurance Policies


You also get a deduction if you pay premiums for your parents' health insurance. You can claim up to ₹25,000 if your parents are below 60 years of age and up to ₹50,000 if they are citizens. If both you and your parents fall under the senior citizen category, your total deduction under Section 80D can go up to ₹1,00,000 in a financial year.


How to Report Health Insurance Premiums in Your ITR?


You can report your health insurance premiums on your income tax return by completing Schedule 80D on the e-filing portal. Here are the steps to do it correctly:



  • Step 1: Visit the income tax e-filing portal. Log in using your credentials.

  • Step 2:Select the income tax return form based on your eligibility, such as ITR-1 or ITR-4.

  • Step 3:Go to the ‘Tax Deductions’ section under ‘Gross Total Income’.

  • Step 4:Choose the option to claim deductions for medical insurance premiums and preventive health check-ups.

  • Step 5: Fill in Schedule 80D with details of the health insurance premiums paid and eligible health check-up expenses during the financial year.

  • Step 6:Review all the details. Submit your return once you have completed the process.


Reporting your health insurance premiums in your ITR helps you save tax under Section 80D. The amount you can claim depends on who is covered and their age, so make sure to enter the details correctly.