Adding partner to Health Insurance group scheme

Shee7

Hi

I am just wondering if anyone else has experience in adding their partner to a health insurance Group Scheme. I am currently on a scheme myself using Benefit in Kind. I want to add my partner but I am having trouble calculating the exact additional monthly cost.

In a nutshell, my current monthly payment looks like this:

Gross = Salary + Monthly Health Insurance Premium

I am then taxed on the Gross (including Health Insurance Tax Credit).

After taxes are deducted, the Monthly Health Insurance Premium is then subtracted to give me my net pay.

So my questions are, if I add my partner, will the additional payment be added to the gross section? Will I be entitled to an additional tax credit for my partner?

My own company are a little inexperienced in this matter as they are UK based and have only expanded into Ireland for the first time. I have contacted the insurance company whom I asked these questions to and was told "yes, yes, yes" but honestly I was a little skeptical as to whether they understood what I was asking as the person was a member of the sales team. (call me cynical).

I have reviewed Citezens Information Taxation and Medical Expense page. (can't post link because I am new to forumns) Under section "Health Insurance Tax Credit" can see the quote "tax relief on private health insurance premiums is limited to €1,000 for each adult". The "for each adult" part to me would suggest I would get a tax credit per policy I hold.

If anyone can offer any knowledge/experience on my questions, I would greatly appreciate it.

Thanks

sillysocks

I had to pay tax on my full family policy which was paid for by work. Following this though as never thought about the other adult credit at the time. Guessing you only use your own credit and they can't claim their because they don't pay the premium themselves.

Shee7

Yes originally I was told the terms of the group scheme meant that any additional policies for my partner could only be deducted after tax. And the cost of the additional policy was basically the same as buying the policy privately.

I was later told I could add my partner and was given "indication" that the policy would be added to my own at the Gross payment stage. (BIK) However I have been unable to confirm this and would further like to know how the tax credits are handled. (although if my partner's premium comes in at the gross payment stage, it's still a decent saving regardless of credits)

dobsdave

Shee7 wrote: »

Yes originally I was told the terms of the group scheme meant that any additional policies for my partner could only be deducted after tax. And the cost of the additional policy was basically the same as buying the policy privately.

I was later told I could add my partner and was given "indication" that the policy would be added to my own at the Gross payment stage. (BIK) However I have been unable to confirm this and would further like to know how the tax credits are handled. (although if my partner's premium comes in at the gross payment stage, it's still a decent saving regardless of credits)

What did revenue tell you?

Shee7

I haven't contacted revenue yet. I was unsure as to whether they could answer me as the Citizens informartion page told me that "This tax credit is granted directly by the insurance company".

Do you think Revenue will be able to answer my query? If so I'll be straight on the phone!!

dobsdave

Shee7 wrote: »

I haven't contacted revenue yet. I was unsure as to whether they could answer me as the Citizens informartion page told me that "This tax credit is granted directly by the insurance company".

Do you think Revenue will be able to answer my query? If so I'll be straight on the phone!!

I think that would be a good idea