Health Insurance Levy 2010
Community Rating Health Insurance Levy and Age Related Tax Credits 2010
The Irish State supports the private health insurance market through tax relief at source of 20% of health insurance premiums.
It also supports the community rated market by providing age related tax credits in respect of those over the age of 50 that help to meet their higher claims cost. The tax credits for policies taken out or renewed in 2010 will be €200 for those aged 50 to 59, €525 for those aged 60 to 69, €975 for those aged 70 to 79 and €1,250 for those aged over 80. Older people pay the same premium net of these tax credits for their health insurance as younger adults pay. These credits are funded by a levy paid by health insurers. In 2010 this levy is equal to €185 for each adult and €55 for each child. This measure is designed to be Exchequer neutral.
The tax credits and the levy, like the tax relief at source of 20% premium, are administered by the health insurance companies. The price of health insurance quoted by the health insurance companies allows for these measures.
These terms apply to Aviva Health, Quinn Healthcare and Vhi Healthcare.
