tosullivan
Registered User
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Yes. You just claim MED1 relief on any otherwise unreimbursed expenses. So if a private health insurer refunds some of a charge then you subtract that amount and then claim tax relief on the remainder.Can I for 2007 tax return, claim the €30 for each GP visit from the VHI and then the balance of each visit through the revenue? Is that how it works?
You don't need to subtract €125/€250 from single/joint or family claims from 2007 onwards (you do for years prior to this). This "excess" was abolished last year and 100% of all qualifying expenses (less any reimbursement from private health insurance etc.) qualifies for tax relief. In your case it would be €750 (gross qualifying expenses) - €450 (VHI refund) = €300 (net qualifying expenses) @ 41% = €123 tax refund from Revenue meaning that you paid out €750 but got €450 + €123 = €573 meaning that the net cost to you after refunds and tax relief was €177.So instead of getting 41% back on the €500 (750-250) from the revenue which is €205, I would get back €450 from the VHI and 41% of (750-450-250)=€20.50 from the revenue?
great stuff Clubman, I owe ya a pint as it looks like I'm a few quid better off each year nowYes. You just claim MED1 relief on any otherwise unreimbursed expenses. So if a private health insurer refunds some of a charge then you subtract that amount and then claim tax relief on the remainder.
You don't need to subtract €125/€250 from single/joint or family claims from 2007 onwards (you do for years prior to this). This "excess" was abolished last year and 100% of all qualifying expenses (less any reimbursement from private health insurance etc.) qualifies for tax relief. In your case it would be €750 (gross qualifying expenses) - €450 (VHI refund) = €300 (net qualifying expenses) @ 41% = €123 tax refund from Revenue meaning that you paid out €750 but got €450 + €123 = €573 meaning that the net cost to you after refunds and tax relief was €177.
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