D Dweller$ Registered User Messages 16 5 Sep 2018 #1 Hi, I recently signed up for Health Insurance of which my employer pays 75%. Total premium is 1,254.76 My first payslip with benefit in kind says BIK 186.16 Does this look right? Thanks
Hi, I recently signed up for Health Insurance of which my employer pays 75%. Total premium is 1,254.76 My first payslip with benefit in kind says BIK 186.16 Does this look right? Thanks
B Blackrock1 Registered User Messages 1,488 5 Sep 2018 #2 depends on how long you have been covered before they started to charge BIK
D Dweller$ Registered User Messages 16 5 Sep 2018 #3 I signed up in July. Aug payslip in the first month with BIK So most likely that is for 2 months. Still seems wrong though? Last edited: 5 Sep 2018
I signed up in July. Aug payslip in the first month with BIK So most likely that is for 2 months. Still seems wrong though?
M Mary55555 Registered User Messages 136 5 Sep 2018 #4 Hello.. Can’t make out the extract amount but here are my calculations: Assuming Net Premium 1,255 Tax relief @20% Gross Premium 2,569 - bik is assessed on gross Premium 75% covered by employer = 1,177 amount of annual bik Monthly bik 98 2 months bik 196
Hello.. Can’t make out the extract amount but here are my calculations: Assuming Net Premium 1,255 Tax relief @20% Gross Premium 2,569 - bik is assessed on gross Premium 75% covered by employer = 1,177 amount of annual bik Monthly bik 98 2 months bik 196
D Dweller$ Registered User Messages 16 5 Sep 2018 #5 On my VHI profile it says Premium 1,254.76. Assume this is gross? But you are assuming net, why?
M Mary55555 Registered User Messages 136 5 Sep 2018 #6 You are so welcome for my response!!!!!! Check the premium note ..is the 1,255 the amount you would be asked to write a cheque for??? If it is , then this is the net after tax relief premium. The BIK is calculated on the gross before tax relief premium. If the 1,255 is the gross before tax premium then adjust my figures accordingly.. You could of course ask your payroll how they calculated it.. it’s always a good option..
You are so welcome for my response!!!!!! Check the premium note ..is the 1,255 the amount you would be asked to write a cheque for??? If it is , then this is the net after tax relief premium. The BIK is calculated on the gross before tax relief premium. If the 1,255 is the gross before tax premium then adjust my figures accordingly.. You could of course ask your payroll how they calculated it.. it’s always a good option..