# How much does my health insurance cost me?



## cian8 (28 Apr 2014)

I am confused as to what my health insurance actually costs me!

My employer pays half the premium, which I am taxed on (as I understand it). Then there is the tax relief at source, group discount, government levy. So all a bit of a muddle. I pay tax at the higher rate.

Total Premium                                              €2,548.60
less Risk Equalization Premium Credit             €0.00
less Group Discount                                      €254.86
plus Government Levy                                  €933.00
less Tax Relief at Source                               €497.31

equals Policy Cost                                         €2,729.40

So I pay through my wages                          €1,364.70
My employer pays                                        €1,364.70

I then pay tax on this                                    €700 (roughly?)

Two options
(A) If I was to cancel I would save                 €2,064.70 (1364 + 700)

(B) Change to a plan costing €1,506 which my employer would not contribute too, I would save                                                   €558


Am I missing anything? Would really appreciate if someone would point out any mistakes in my figures!

Cian8


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## huskerdu (28 Apr 2014)

Where do these figures come from ? It should simpler than that to work this out. 
 It is not clear to me if you know that you pay 1364 or you are surmising that. 
 Do you have a document from the provider with the annual cost. They generally provide this as a single figure, including group discount, gove levy etc, so the breakdown is irrelevant. 

 What does your payslip say for what you pay every month for HI and BIK ?


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## cian8 (28 Apr 2014)

Thanks huskerdu.

The single figure on the policy document is €2,729.40.

My payslip (per month) says Health Insurance BIK = €113.73; Health Insurance = €113.73.

I guess I am just trying to make sure my understanding of how my employer paying half my premium affects the tax I pay and therefore the cost of the insurance to my take home pay!

Hope that makes sense.


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