(1) Subject to this section, the cost of medical care which, in the opinion of the Minister, is reasonably and necessarily incurred by an insured person as a result of an injury or disease against which, when it was sustained or contracted, he was insured under this Part, shall be payable out of the Social Insurance Fund to the extent that such cost is not met under the Health Acts, 1947 to 1979, or the Mental Treatment Acts, 1945 to 1966, or regulations made under section 117.
(2) Where an insured person is eligible to avail himself of services provided under the Health Acts, 1947 to 1979, or the Mental Treatment Acts, 1945 to 1966, or treatment benefit under regulations made under section 117 but does not do so, the amount payable under this section shall not exceed that which would have been payable had he availed himself of such services or benefit.
(3) Where an insured person receives medical care during any period in which he is an in-patient in a hospital or similar institu