tax back question regarding health insurance

Sammett

Hi everyone,

I am confused with something, I will be glad if someone explain it to me. I have a medical insurance and my company pays for it. But on the insurance there is a discount of 200, that says tax relief at source. Also on my payslips I see that it says VHI BIK every month around 100 euro. (The gross premium is €1,395.72 and after tax relief at source which is 200, the net premium is €1,195.72)

However on revenue site it says it could be either of them, you could have tax relief at source or you could have a tax back if it is a benefit in kind(BIK). https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/health-and-age/medical-insurance-premiums/index.aspx

So should I apply for a tax back or is it gonna be a problem for me if I apply for a tax back?

TIA.

Allinall

You need to see exactly how much you are being charged for BIK on your payslip.

Also, is the premium covering the calendar year ( Jan- Dec) of a different period?

Sammett

https://www.boards.ie/discussion/comment/118456097#Comment_118456097

@Allinall Hi, thanks for your reply

I just checked my payslip it is 116.31 per month so per year it equals exactly the gross premium which is €1,395.72.

My premium renewed on July, but I had the same policy before for the first 6 months of the year 2021. So it looks like I am not getting the relief at source and it is paid €1,395.72. So in this case should I apply for a tax back?

Allinall

https://www.boards.ie/discussion/comment/118456159#Comment_118456159

Yes. Apply for the tax relief.

It is a separate thing to the BIK.

You will only get relief of €200, which is the maximum allowed.

https://revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/health-and-age/medical-insurance-premiums/index.aspx