Escalating grocery bills and car prices have cooled, but price relief for Americans does not extend to health care, a new survey shows. The average cost for a family health insurance plan offered through an employer increased 7% this year to $25,

Term life insurance policies and health insurance premiums for senior citizens may soon be exempt from GST, as a majority of a state ministerial panel supports tax cuts to benefit the public, according to an official,

The GST Council addressed this issue during its September meeting, following discussions about the 18 per cent GST on life and health insurance premiums.

The GoM is of the view that pure-term life insurance and pure-term life insurance covering family members should be exempted from GST, sources added.

The Group of Ministers (GoM) decides to recommend waiving GST on health and term life insurance premiums for senior citizens, with a focus on providing financial relief. The GST Council will finalize the decision,

Goods and services tax (GST) on term life insurance premiums, and premium paid by senior citizens for health cover is likely to be exempted from tax, an official said on Saturday.