Tax relief on Private Health Insurance

J

jasconius

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'The tiered tax relief will be €200 a year for those aged 50-59 years, €500 for those aged 60-69 years, €950 for those aged 70-79 years and €1,175 for people aged 80 years and older.
The existing 20% tax relief will apply to everyone with private health insurance'

At the moment we get tax relief at source at 20% on VHI contributions of say €1000 p.a.

How does the above work? is it in addition to the current TRS?

What are the calculations?

Thanks
 
How does the above work? is it in addition to the current TRS?

Yes, all insurance premiums get the 20% relief.

What are the calculations?

Hw old are you?

If you are aged 50-59 years, then you get 200 euro.

€500 for those aged 60-69 years

€950 for those aged 70-79 years

and €1,175 for people aged 80 years and older.


However, to pay for the extra tax relief for older people, there is a new levy on the premium of 160 per adult, and 53 per child.
 
So does this mean that health insurance premiums are going up for someone like me, 27 years old on VHI
 
Protocol

I am definitely confused dot com

I today's press it states that the tax relief goes to the Insurer - in my case VHI - and not myself.
This would therefore be a subsidy to the insurer for carrying older people on their books - VHI would presumably benefit most - but would not be necessarily passed on to its customers.

Anybody throw some light ?

Or is it more spin from FF
 
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