In our country, tax deductions are provided to encourage health insurance. You can get back the premium you paid for private health insurance or supplementary health insurance as a tax refund, provided that it does not exceed 15% of your monthly gross income. You can find all the details about supplementary health insurance income tax deduction and TSS tax deduction advantages in our article.
How is Supplemental Health Insurance Tax Deduction Calculated?
You can easily calculate the supplemental health insurance tax deduction by following the sample steps below:
- Let’s say you receive a monthly salary of 40,000 TL gross. 15% of the 40,000 TL gross salary equals 6,000 TL. In other words, you cannot receive a tax refund of more than 6,000 TL.
- You have taken out a Supplementary Health Insurance with a total premium of 10,000 TL. You will pay 1,250 TL per month in 8 installments. In this case, the tax refund will be 15% of the 1,250 TL per month.
- You can benefit from this right since the total tax refund of 1,500 TL in 8 months does not exceed 15% (6,000 TL) of your monthly gross income.
- The complementary health insurance you had for 10,000 TL will have been paid for 8,500 TL after you deduct the tax refund at the end of 8 months.
| Monthly Gross Wage | 40,000 TL |
|---|---|
| Health Insurance Total Premium | 10,000 TL |
| Health Insurance Monthly Premium (8 Installments) | 1,250 TL |
| Maximum Monthly Tax Deduction | 6,000 TL |
| Health Insurance Total Tax Benefit Amount | 1,500 TL |
| Health Insurance Monthly Tax Advantage Amount | 187.5 TL |
Table Date: 02.05.2024 – The sample calculation in the table is calculated for the 15% Income Tax Bracket.
How to Get Tax Deduction for Supplementary Health Insurance?
In order to benefit from the supplementary health insurance tax deduction, you must provide the receipt showing that you have paid for the insurance to the authorized persons in the company you work for. The authorized persons in the company will initiate the procedures with the supplementary health insurance tax petition sample.
We recommend that you contact your company officials for detailed information about the supplementary health insurance tax deduction 2024 or the private health insurance tax deduction 2024.
Is Supplemental Health Insurance Deductible from Income Tax?
The private health insurance and supplementary health insurance income tax deduction advantage can be used by anyone who pays income tax. You can get a supplementary health offer immediately by filling out the form below and calculate the 15% tax refund discount based on the prices you see on the screen.
Who can benefit from Income Tax Deduction in Health Insurance?
Employees who are defined as payrolled and classified as 4A, 4B or 4C and income taxpayers subject to declaration can benefit from income tax reduction in health insurance. In order to benefit from the discount, documents such as insurance invoices or card statements must be submitted to the relevant company. After submitting the documents to the company they work for, the person can receive 15% of the premium paid as a refund.
The following people can benefit from the Health Insurance tax deduction:
- Workers
- Officers
- Teachers
- Tradesmen
- Freelance Professionals
If you want to benefit from the health insurance tax discount opportunity, get a complementary health insurance quote from our website now . Secure your health with complementary health insurance, which will provide you with many advantages, both material and spiritual.
Tax Reduction for Private Sector Salaried Employees
If you receive your salary via payroll, in order to benefit from the tax deduction, it will be sufficient to provide the receipt or bank receipt showing that you have paid your health insurance premium to the accounting or human resources department of the workplace you work in. After the relevant department (accounting or HR) at your workplace makes your accounting record, you can receive 15% of the total premium you paid for your policy as a tax refund.
There are details you need to pay attention to in order to receive a supplementary health insurance tax refund:
- If you pay the premium of private health or complementary health insurance in advance or in installments, do not forget to give the receipt given by your insurer to the relevant department.
- If you have paid your health insurance premium in installments with a blocked credit card, do not forget to obtain a document from your insurer showing the credit card withdrawal instruction and be sure to submit it to the accounting unit.
- If you have paid the premium to your credit card in installments without any blocking, you must send the receipt to accounting every month showing that the payment has been made.
- In order to receive a tax refund, you must pay your health insurance premium regularly. If you do not pay the premium installment, you cannot benefit from this advantage.
Tax Deductions for Self-Employed Earnings
We can define those who earn commercial, rental or agricultural income as self-employed people. People who have self-employed income can earn income other than a defined salary. Those who earn income in this category can get a tax refund if they file an income tax return and have an accounting record. They can benefit from private or supplementary health insurance tax advantage up to 15% of the income they declare.
Tax Reduction for Civil Servants
Public servants and teachers can also benefit from the private and supplementary health insurance tax deduction advantage. It is sufficient to present the health policy and payment receipts to the trustee at the institution they work for.
The most important issue that public employees should pay attention to is that the person in whose name the insurance is made (the insurer, that is, the person who pays the premium of the policy) will be taken into account for the deduction to be made based on that person’s salary.
Who Gets a Tax Refund When Family Health Insurance Is Provided?
You can get back 15% of the premium you paid for private health or family supplementary health insurance for yourself, your spouse and your children under the age of 18 as a tax refund. If your child is a student and under the age of 25, you can also get a tax deduction from the premium you paid for your child.
If you get health insurance for your spouse and child and pay the premium, you can still benefit from the tax deduction. In other words, the person who will receive the tax refund does not have to be insured on the policy. The person who pays the premium (the insured person) receives the deduction and 15% is deducted from the tax base.
Before you get supplementary health insurance for your family, we recommend that you read our content titled ” What is Family Supplementary Health Insurance? What Does It Cover? “
Stay healthy.