FargoBoyle
Registered User
- Messages
- 4
Hello People,
I have a question regarding the Gov Levy and Tax relief on Private Health Insurance. I have spent 6/7 hours today and yesterday trying to make sense of it all.
My insurance is up for renewal and I wish to downgrade my plan. To make an informed decision I have to understand how the final cost is arrived at and hence this post.
To make things more difficult the information in my renewal notice does not exactly equal the information from my PHI website. The cynic that I am assumes the PHI's and the gov intentionally do this to confuse consumers into paying over the top for their policies. This is a different topic to the one posted so I will side step this for now.
I have checked other websites, including gov websites and cannot find concrete information on levy and tax relief information so any links would be appreciated.
My PHI for 2013, renewed in Jan 2013.
(Using approx values for gross value to avoid identifying PHI)
Gross 1650 + Gov Levy 285=1935- 20% Tax Relief 387=1548 (Net price)
My Renewal price from PHI in writing, due to renew end Jan 2014.
Gross 1800 + Gov Levy 350=2150 - 20% Tax Relief 200=1950 (Net Price)
Difference of E402 for same plan. (an EXTRA E33 a month!)
I understand the Tax Relief went from 20% of total figure to 20% of E1000 max, ie E200 max relief for policies over E1000.
Questions
1. What is the qualifying criteria that dictates whether you are on a "Non-Advanced Plan" or an "Advanced Plan". (Gov Levy changes depending on your plan )
2. Have I moved from Non Advanced to Advanced in the above example.
3. Any links to clear info on the Gov Levy.
4. Are the new gov levy figures not due until March?
Any help appreciated.
I have a question regarding the Gov Levy and Tax relief on Private Health Insurance. I have spent 6/7 hours today and yesterday trying to make sense of it all.
My insurance is up for renewal and I wish to downgrade my plan. To make an informed decision I have to understand how the final cost is arrived at and hence this post.
To make things more difficult the information in my renewal notice does not exactly equal the information from my PHI website. The cynic that I am assumes the PHI's and the gov intentionally do this to confuse consumers into paying over the top for their policies. This is a different topic to the one posted so I will side step this for now.
I have checked other websites, including gov websites and cannot find concrete information on levy and tax relief information so any links would be appreciated.
My PHI for 2013, renewed in Jan 2013.
(Using approx values for gross value to avoid identifying PHI)
Gross 1650 + Gov Levy 285=1935- 20% Tax Relief 387=1548 (Net price)
My Renewal price from PHI in writing, due to renew end Jan 2014.
Gross 1800 + Gov Levy 350=2150 - 20% Tax Relief 200=1950 (Net Price)
Difference of E402 for same plan. (an EXTRA E33 a month!)
I understand the Tax Relief went from 20% of total figure to 20% of E1000 max, ie E200 max relief for policies over E1000.
Questions
1. What is the qualifying criteria that dictates whether you are on a "Non-Advanced Plan" or an "Advanced Plan". (Gov Levy changes depending on your plan )
2. Have I moved from Non Advanced to Advanced in the above example.
3. Any links to clear info on the Gov Levy.
4. Are the new gov levy figures not due until March?
Any help appreciated.
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