Medical insurance

gems3286

Hi,

I was wondering if anyone can help me. It seems that i have been payimng for meadical insurance even though i knew nothing about this.

I was wondering if anyone knows what this meadical insurance is and can i claim back for it? as have been paying it a didn't even no?

gem

00ec25

if you don't know what it is, how are we going to know

the most likely explanation is your employer pays the premium for you to be a member of BUPA or have similar private medical insurance cover as part of your pay package.

As that is part of your pay, you will be taxed on it and so you have been "paying" for it because you have had extra tax deducted from your salary for the value of the "benefit in kind" represented by the amount of money it costs your employer to pay the insurance premiums on your behalf.

No you cannot claim it back. All you can do is tell your employer you want to opt out of the medical cover and they will inform HMRC so that your tax code can be adjusted for next year. Any overpayments you make during the remainder of this year becuase your tax code has not yet been adjusted (once you opt out) will then be repaid automatically next year using your new tax code.

read your employment contract properly and ask HR if you still do not understand what you are being paid for doing your job!
Also read your notice of tax coding sent to you by HMRC as this will list why your tax code is different to reflect the benefit in kind value.