How Health Checks in Time Save You Money

Vidyalaxmi explains how preventive health check-ups and a deduction of up to . 5,000 on them could keep you financially healthy

Prevention is better than cure. Especially, if you get a tax break for it. Preventive health check-ups may have been around for a while, but the tax exemption measure announced in this year's Union Budget is likely to add to its appeal. Almost every big hospital as well as polyclinic centre offer health check-up packages which cover every vital organ of your body such as eyes, heart, chest and even uterus in case of women. "Usually, employees get an opportunity to attend such wellness camps through their employers. But it's good to see a deduction of up to . 5,000 on preventive health check-up for self, spouse, dependent children or parents of an individual," says Vineet Agarwal, director, KPMG. The finance minister announced a tax incentive of up to . 5,000 for preventive health check-ups under section 80D. The final guidelines regarding the nature and venue of such check-ups are yet to be spelt out. 

"If a salaried individual undergoes a health check-up with any hospital or even a pathology lab, he/she can submit a photocopy of the bill along with other tax investment receipts to the employer at the time of investment declaration," says Vaibhav Sankla, director-business development and tax training at H&R Block India. If you are a self-employed individual, you cannot attach any receipts along with the Form 16. In that case, you can keep the original receipt with you, which can be produced if the need arises. "However, the maximum deduction under Section 80 D is up to . 15,000, which also includes health insurance premium. However, if one of your parents is a senior citizen, then the limit is enhanced to . 20,000. If you are already claiming full tax deduction under section 80D then there is no additional tax benefit on preventive health check-up expenditure," says Vaibhav Sankla. Payment by any mode (including cash payment) would work for claiming deduction for preventive health check-ups. 

NEED FOR PREVENTIVE 

HEALTH CHECK-UPS 

Instead of talking about a heart attack or even a stroke, let us talk about the more common ailments which most of us can expect at any point of time. For instance, you don't have to walk to your dentist only when you develop a cavity or for a root canal. It could be for flossing, threading, crowding of teeth or just a gum check. Bleeding gums while brushing or flossing or if you experience a persistent bad breath are early signs for persistent dental problems. Or even worse, if you sense a cavity, filling it early will save the amount on a root canal treatment. What you have avoided is a major dental problem and definitely the cost. 

"Most ailments requiring surgery do not occur overnight, but build up over a period of time, and in many cases, can be detected early through regular checks. Doctors say, you almost save up to 50% on health costs with regular check-ups, exercise and balanced diet," says Dr James Thomas, a senior consultant cardiac surgeon and vicechancellor, Padmashree Dr DY Patil University. The idea is to avoid severe health complications which could also take a toll on your biological as well as financial health. 

SOME MUST-DO TESTS 

If you don't want to go through the rigmarole of identifying the right health check-up and hospital, here is an easy way out. Undergo the following tests, especially if your family has a medical history, which are most important yet offered by almost every hospital. 

Stress test for families with 

cardiac history 

This test is also offered as a stand-alone test at a cardiologist's clinic or in any hospital. This test uses a treadmill to reflect arterial blood flow to the heart and chalks out imbalances, if any. The starting range for this test is around . 2,000 and it could go over . 15,000. "Stress test has been proved to be most effective these days. If you have a family history of cardiac problems, it's a must to carry out this test at least once a year," says Dr James Thomas. 

Combine it with an ECHO 

You can combine a stress test with an echocardiogram (ECHO). ECHO is more accurate than ECG (electrocardiography), which helps a doctor find the location and the extent of heart muscle damage depending on the results of a stress test. "But doctors insist on an ECHO only if the stress test results are positive and they detect some abnormalities," says Dr T Samuel, a medical practitioner based in Navi Mumbai. There are ECHO tests starting from . 500 and could go up to . 5,000, depending upon the hospital and the city. 

Monitor blood pressure and 

sugar levels regularly 

Blood pressure is a function of stress and anxiety rather than heredity. Such cases can be kept monitored through counselling, yoga and meditation instead of direct medication if the blood pressure (BP) is not alarmingly high. "You can read the early signals such as a constant headache and body ache. Patients suffering from severe stress and hypertension should get their BP checked at least once every week," says Dr Samuel. Diabetes is a function of heredity, hence it is better to monitor your sugar levels twice a year if any of the parents or grand parents is diabetic. 

Health check-up for women 

Self-inspection and regular doctor check-ups are essential for women to help detect breast cancer early. One has to undergo a mammogram on the detection of any lump. But they should get a check-up done by a doctor and not solely depend on self inspections.. 

vidyalaxmi.v@timesgroup.com