Med1 Form - Deducting what Health Insurance Covers

R

ritab

Guest
I'm just filling out my Med1 form & at the end of it is says deduct whatever amount may be claimed back through insurance companies. I changed from Bupa's Essential Plus to the Health Manager Starter last year. The difference in annual subscription was an increase of €86 & I can claim back 50% for all doctors visits - seemed like a good option but now I'm wondering is it really? I have a total of €270 in Doctor's Visits to claim back from Bupa so, they refund me €135. But if I wasn't claiming this from Bupa would I be getting 270 x 42% = €113.40 back in tax? If so, I'm only getting an extra €22 from the Health Insurance so, it's not worth while paying the extra €85 subscription.
 
You are getting back €135 from BUPA but you can also claim back the other €135 @42% in tax.

Don't forget the first €125 (€250 for family) PA is not allowed for tax purposes.
 
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