All You Need to Know About Government Schemes for Women

MATERNITY HEALTH INSURANCE



In the world we are living in today, women are making a mark for themselves in every field they choose. It is quite encouraging to see how they are inspiring other women through their achievements. The 21st-century women are independent and financially aware; thus, they are taking the best financial decisions for their future. When it comes to healthcare, every woman deserves the best care possible, which is why health insurers like Care Health Insurance (Formerly Religare Health Insurance) offer specific products, including pregnancy cover

Moreover, several government schemes for women help in empowering and ensuring the well-being of women in our country. Some popular banks in India offer savings account for women along with discounts on purchases made through debit cards. Moreover, they also offer lower rates for loans and discounts on the costs of medical tests for women. 

Women also enjoy certain tax benefits and exemptions under various sections as per the Income Tax Act, 1961. One of them is the income tax deduction, which can be claimed on the premium paid for a health insurance policy under Section 80D of the I-T Act. It is quite helpful as women can plan to increase their savings while getting the benefits of medical insurance. 

Read this article where we will tell you more about the government benefits for women in India and how women can safeguard their finances with health insurance. 

Pradhan Mantri Matritva Vandana Yojan

Launched in 2010, Pradhan Mantri Matritva Vandana Yojan is a maternity benefit program spearheaded by the government to ensure child care, better nutrition, and maternity health. It is implemented by the Ministry of Women and Child Development. It is a conditional cash transfer scheme wherein a cash incentive of Rs 5,000 is offered for pregnant women and lactating mothers for first living child of the family, subject to meeting conditions related to Maternal and Child Health.

Sukanya Samriddhi Yojana (SSY)

Parents of a girl child below the 10 years of age can invest in this scheme known as Sukanya Samriddhi Yojana (SSY). It was launched in 2015 under the flagship scheme ‘Beti Bachao, Beti Padhao’. It offers an interest rate of 8.5%, which is quite high compared to other government schemes. One can make a deposit every month or annually for 15 years from the date of account opening. The option of partial withdrawal is allowed when the child reaches 18 years, subject to certain conditions. For young parents who are worried about their daughter’s future, this scheme proves beneficial. 

Pradhan Mantri Surakshit Matritva Abhiyan

It is a scheme that has been launched by the Ministry of Health & Family Welfare (MoHFW) in India. The main goal of this scheme is to deliver free quality antenatal care to women in their pregnant stage of 2nd/ 3rd trimesters. These medical services, including free check-ups, will be available at designated government health care facilities on the 9th of every month. It is available for women staying in under-served, semi-urban, poor, and rural areas. It is one of the government schemes for pregnant ladies that save a family from the cost burden of maternity care.  

Why Should Women Consider Buying Separate Health Insurance? 

The government offers maternity benefits for pregnant women. Even working women in private companies are entitled to maternity leave under The Maternity Benefit Act, 1961, which is a full paid absence from work for taking care of a new-born baby. 

The government schemes for health care and savings are quite beneficial for women from low-income families. In India, women have a greater need for quality medical care. It is particularly true when we see how women's health issues such as anaemia, malnutrition, and breast cancer are quite prevalent. This fact is one aspect of the bigger picture. Even women from urban areas are equally prone to health risks. It is mainly because of several environmental and lifestyle factors apart from family medical history. Ailments such as diabetes and hypertension have affected millions of people. 

While working women living in big cities are busy fulfilling their goals and responsibilities towards their family, they tend to ignore their health. Medical treatment costs in India are continually rising and if one estimates the future medical expenses, it could be a staggering amount. The government schemes, as mentioned above, offer financial aid for women, which is significant. At the same time, those women, who have to meet hefty healthcare expenses, should invest in a separate medical insurance policy with higher sum insured. Having a health policy is a vital support for medical emergencies as it would cover a host of medical expenses due to various illnesses. 

Final Word

Many women depend on their Employer's Mediclaim Policy. However, such policies would not be valid once a person leaves the company. So, it is wise to get an individual health insurance policy that would cover expenses such as hospital bills, and pre-and-post hospitalisation medical expenses, etc. Besides, with specific pregnancy cover such as ‘Joy’ by Care Health Insurance (Formerly Religare Health Insurance), a woman can avail of quality maternity care without even worrying about the costs. The way government schemes for pregnant ladies are beneficial; such maternity-specific plans offer the much required financial cushion for women.