Health Insurance Health Insurance BIK

liam bourke

Registered User
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I have recently got company health insurance recently at work BIK after 6 months probation.
I got my payslip ,but noticed I was been taxed on the health insurance.
is this correct?
 
I have recently got company health insurance recently at work BIK after 6 months probation.
I got my payslip ,but noticed I was been taxed on the health insurance.
is this correct?
If your employer is paying for the cost of the health insurance, then it will be taxed under BIK.

To complicate matters, you are then entitled to tax credits because you did not get the tax relief at source of 20% on the medical insurance premium that you would have been entitled to had you paid the premium directly.

See section "Policies paid by employers (as a benefit-in-kind)" on this Revenue page:

Your employer may choose to pay medical insurance to an approved insurer for you or your family as a benefit-in-kind. If they do, you will:
  • be taxed on the gross value of the policy or policies
  • need to claim medical insurance tax relief from Revenue as it was not given at source.
 
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