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Tax Credits for Parents Health Insurance

TheGolfeer · 2012-02-20 17:01:39

I currently pay my parents (both OAPs) health insurance, is there any way I claim their health insurance credits or can they claim this back some other way.

20-02-2012 5:01pm

#1

TheGolfeer

Closed Accounts Posts: 21 ✭

Join Date: June 2009

Posts: 19

I currently pay my parents (both OAPs) health insurance, is there any way I claim their health insurance credits or can they claim this back some other way.

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Comments

#2 20-02-2012 5:20pm

nompere

Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭

Join Date: December 2006

Posts: 1647

You get the tax relief at source - there isn't any further relief available.

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#3 22-02-2012 2:28pm

Bakemate

Registered Users, Registered Users 2 Posts: 42 ✭

Join Date: May 2011

Posts: 37

The tax relief actually goes to the insurer rather than the consumer. The insurer is charged a levy per customer it holds. This levy is paid into a fund and then redistributed to the insurers in the form of tax credits for over 60's, to compensate them for the higher claims costs of older customers, who, under community rating rules, have to be charged the same price as everyone else. As a result, the gross price of the plan can vary by age but with the addition of tax credits, it will have the same the nett price as everyone else's.

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