GST 2.0: Medicines & Health Insurance Get Cheaper from September 22
the new GST 2.0 reforms bring major relief in healthcare. GST on individual life and health insurance premiums is now fully removed, including family and senior citizen plans.
In addition, 33 lifesaving medicines—used for cancer and rare diseases—are now GST-free. Other essential drugs, medical devices, diagnostic kits, and equipment will carry a reduced GST rate of 5%, down from 12% or more.
The goal is to reduce treatment costs, increase insurance adoption, and make healthcare more affordable. Industry groups like the Indian Pharmaceutical Alliance called the reform “transformative” for patient access.
Hospitals, pharmacies, and insurers are expected to revise prices to pass benefits to consumers. Citizens across India will now see lower health-related expenses as the changes take effect.
GST 2.0: Medicines & Health Insurance Get Cheaper from September 22
