Tax credit for health insurance

MaudL · 19-10-2016 07:03PM #1

Hi,

I'm a PAYE worker and have my Aviva health insurance arranged through work; whatever tax credits are available are taken care of by payroll.

However, my (less than 18 years old) child is not covered so I bought insurance for him (335 euros for the year), with Aviva as well as they were giving a lower price negotiated by my company.

Am I eligible for any kind of tax relief on my child's insurance? I looked on the revenue site but couldn't figure it out myself.

One more question: my health insurance does not reimburse the totality of my expenses. For example, I'd receive back only half of a GP fee. Can the difference be claimed for tax relief?

Thanks

Allinall · 19-10-2016 07:06PM

MaudL wrote: »

Hi,

I'm a PAYE worker and have my Aviva health insurance arranged through work; whatever tax credits are available are taken care of by payroll.

However, my (less than 18 years old) child is not covered so I bought insurance for him (335 euros for the year), with Aviva as well as they were giving a lower price negotiated by my company.

Am I eligible for any kind of tax relief on my child's insurance? I looked on the revenue site but couldn't figure it out myself.

Thanks

As far as I know, the maximum premium available for tax relief is €1,000, so if your premium exceeds this you won't get any credits for your son.

nokia3310 · 19-10-2016 08:11PM

You can claim tax relief of up to €500 per child on your medical insurance so you can get 20% of the full €335 that you paid for him added to your tax credits.

Also you can claim the difference between what your medical insurance provides and the total cost of the expense as a health expense.

testicles · 19-10-2016 08:14PM

This post has been deleted.

nokia3310 · 19-10-2016 08:45PM

The relief is given at source if you get medical insurance directly through a medical insurance provider. If you get it through your employer only the employer gets the relief at source and you have to be given a tax credit to pass on the relief to you.

Allinall · 19-10-2016 09:13PM

nokia3310 wrote: »

You can claim tax relief of up to €500 per child on your medical insurance so you can get 20% of the full €335 that you paid for him added to your tax credits.

Also you can claim the difference between what your medical insurance provides and the total cost of the expense as a health expense.

Easy to know I've no kids -:).

exaisle · 28-10-2016 05:24PM

MaudL wrote: »

Hi,

I'm a PAYE worker and have my Aviva health insurance arranged through work; whatever tax credits are available are taken care of by payroll.

This is slightly more complicated than it appears. It's not up to "payroll" to deal with your tax credits.

OP - Is your Aviva insurance paid out of your net salary (ie after tax,PRSI & USC have been deducted) or is it paid by your employer as part of your salary and is therefore a Benefit-in-Kind (also called a "perk")?

If you are taxed on a Benefit in Kind by your employer in respect of the health insurance premium, then you should contact Revenue and claim tax relief on the amounts paid. You can go back 4 years and your employer will supply the necessary details. Best way to do this is via PAYE Anytime/My Account.

If the premiums are simply taken out of your net salary, and not treated as a Benefit in Kind, then the tax relief has already been granted and you don't need to do anything.

Tax credit for health insurance

Comments