(source : ANI) ( Photo Credit : ani)
Big Relief for Indian Families: GST on Health Insurance Premiums to Be Scrapped from September 2025
Imagine paying less for your family’s health insurance – that’s the exciting news coming your way! Starting September 22, 2025, the government will remove the 18% GST on health insurance premiums. This move will cut costs for millions of Indians, making health coverage more affordable and accessible. No more extra tax eating into your premium payments – families could save up to 18% on their policies right away.
Dr. Selina Rajathi, Head of Accident & Health Claims at Royal Sundaram, calls this a game-changer. "This GST exemption is a pivotal moment for health insurance in India," she says. "Middle-income families will feel the financial relief immediately. At Royal Sundaram, we’re all about turning these benefits into real, affordable protection for every Indian household."
Why This Matters for You and Your Family
Health insurance acts as a lifeline for many Indian families, shielding them from skyrocketing medical bills. But that 18% GST on premiums often made it feel out of reach. Now, the exemption covers everything – from family floater plans and senior citizen policies to individual covers. Expect more people to jump in and buy or renew plans, boosting health insurance penetration across the country.
In today’s world, rising medical costs and unpredictable health risks make coverage essential. Royal Sundaram stands firm on making it available to everyone, not just the well-off. Dr. Rajathi adds, "Every family deserves the peace of mind from strong health coverage. This GST cut opens doors to make insurance inclusive, reaching homes no matter the income."
How the GST Removal Helps Fight Rising Healthcare Costs
This is a smart fiscal step that lightens the load on families while pushing for wider insurance adoption. Healthcare expenses in India have shot up over the past five years, with chronic issues like diabetes, heart disease, and respiratory problems hitting more people hard.
Check this out: Between 2014-15 and 2021-22, government health spending rose from 29% to 48% of total health expenditure. That helped drop out-of-pocket costs from 62.6% to 39.4% – still high, but improving. The GST exemption aims to slash those personal expenses even further by making premiums cheaper.
Picture the savings: Renewing or buying a new health insurance policy could save you hundreds or even thousands of rupees. It’s a big win for financial security against surprise medical emergencies.
Grab This Opportunity for Better Health Coverage
If you’re thinking about health insurance renewal or a fresh policy, now’s the perfect time. Use this GST relief to lock in savings and get comprehensive protection for your loved ones. Head to the Royal Sundaram website to explore affordable health insurance options and secure your family’s future today.
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