Hi,

i have a query about medical reiumbursement ,mediclaim and group term. Can any one let me know the difference between the three

Thanks,
Pradeep

Hi Pradeep,

Medical Reimbursement is a part of CTC, and Rs.15000.00 p.m is exempted from tax. Bills worth Rs.15000.00 should be provided to claim the benefit. It mat differ from company to company. Some companies might ask or may not ask for the bills.

Secondly Mediclaim- It is exempted under section 80 D maximum of Rs.15000.00 p.a, in case mediclaim is done for senior citizens , age above 65 yrs then additional Rs.5000.00 can be exempted. It can be done through New India Insurance or any other private institute like ICICI, Tata AIG,etc.

Group insurance is done for all employees. This is an additional benefit given by the company to its employees. No tax benefit for employees in this case.

I hope this will serve your purpose. For any query do write.

Regards,
Ramesh