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VHI Deduction

  • 02-03-2021 8:30pm
    #1
    patsfan1286
    Registered Users, Registered Users 2 Posts: 30 ✭


    I'm able to reconcile everything on my pay slip, apart from a line item named 'VHI'.

    Last year it was 4.69 / month

    This year it's 5.04 / month

    Anyone have an idea what this is?


Comments

  • #2
    whatawaster81
    Registered Users, Registered Users 2 Posts: 986 ✭✭✭whatawaster81


    I assume it's health insurance


  • #3
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,403 ✭✭✭✭jimmycrackcorm


    You won't get any VHI policy for the equivalent of 60 euros a year.
    Does your employer pay for your VHI? You should see the amount added to pay and then deducted for benefit in kind.


  • #4
    patsfan1286
    Registered Users, Registered Users 2 Posts: 30 ✭patsfan1286


    Yep, I pay BIK on insurance.

    On my Deductions I see:

    TAX:
    USC:
    PRSI:
    VHI:

    No problem with the first 3, dont understand the last one though.


  • #5
    patsfan1286
    Registered Users, Registered Users 2 Posts: 30 ✭patsfan1286


    Yes, my employer pays my insurance.

    I pay the BIK on the premium.

    Just haven't been able to figure out why I have a deduction listed as 'VHI' on my payslip. Is there income that im not accounting for?


  • #6
    ari101
    Registered Users, Registered Users 2 Posts: 2,835 ✭✭✭ari101


    patsfan1286 wrote: »
    Yes, my employer pays my insurance.

    I pay the BIK on the premium.

    Just haven't been able to figure out why I have a deduction listed as 'VHI' on my payslip. Is there income that im not accounting for?

    Any chance there is a shortfall in the difference between what they will cover and the cost of policy you are on. That (or adding spouse/kids at own cost) would be the normal reason to have an after tax VHI deduction from pay?

    You should ask payroll/HR to clarify.


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  • #7
    heroics
    Registered Users, Registered Users 2 Posts: 1,878 ✭✭✭heroics


    ari101 wrote: »
    Any chance there is a shortfall in the difference between what they will cover and the cost of policy you are on. That (or adding spouse/kids at own cost) would be the normal reason to have an after tax VHI deduction from pay?

    You should ask payroll/HR to clarify.

    My company pays my health insurance for me ND the family but I have to contribute 5% for the family. Maybe something similar on your company?


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