cologneboy
Registered User
- Messages
- 55
Hello,
I am wondering if somebody could shed some light on the benefits to have my health insurance paid by my employer rather than me paying it after tax. I gather when my employer pays my health insurance premium, they must make a payment to Revenue equal to 20% of gross premium involved and all medical insurance premiums paid by employers to authorised insurers benefit from tax relief at the standard rate.i.e.,billed at NET rate.
Only premiums paid by employees are entitled to tax relief.
Where premiums are paid by the employer as a “perk”,a payment equal to 20% of these premiums must be remitted to Revenue annually.
Is there any tax implication (benefit in kind?) for me as an employee?
Thanks,
cologneboy
I am wondering if somebody could shed some light on the benefits to have my health insurance paid by my employer rather than me paying it after tax. I gather when my employer pays my health insurance premium, they must make a payment to Revenue equal to 20% of gross premium involved and all medical insurance premiums paid by employers to authorised insurers benefit from tax relief at the standard rate.i.e.,billed at NET rate.
Only premiums paid by employees are entitled to tax relief.
Where premiums are paid by the employer as a “perk”,a payment equal to 20% of these premiums must be remitted to Revenue annually.
Is there any tax implication (benefit in kind?) for me as an employee?
Thanks,
cologneboy