Written answers

Thursday, 17 July 2014

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

61. To ask the Minister for Finance the amount raised from the levy on private medical insurance policies in each of the past four years, the rates of payment for various categories of insured person that are made under the scheme and the amounts paid to each of the medical insurers. [32465/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by the Revenue Commissioners that the yield in each of the past four years from the interim Stamp Duty levy, expired on 31 December 2012 was as follows.

YEARStamp Duty Health Insurance Levy Yield

€m
2010318
2011347
2012437
2013173
The yield from Stamp Duty levy in 2013 of €173 million was in respect of policies taken out or renewed from 01 August to 31 December 2012 but not paid into the Exchequer until 2013.

The interim Risk Equalisation Scheme was replaced by a permanent scheme from 1 January 2013.  Risk equalisation fund receipts for 2013 were €413m (the first year of the fund).

The rates of the health insurance levy from 2009 onwards are shown in the following table.

YearRate (under 18)Rate (over 18)
2014 (from 1 March 2014 onwards)€100 (non-advanced cover)


€135 (advanced cover)
€290 (non-advanced cover)


€399 (advanced cover)
2013 (from 31 March 2013 to 28 February 2014)€100 (non-advanced cover)


€120 (advanced cover)
€290 (non-advanced cover)


€350 (advanced cover)
2012/Q1 2013€95€285
2011€66 €205
2010€55€185
2009€53€160
Amounts paid to the Health Insurance companies are a matter for the Department of Health.  I am advised by that Department that, under section 11D (4) of the Health Insurance Acts all stamp duties collected in respect of health insurance policies effected to provide cover on or after 1 January 2013 are paid into a Risk Equalisation Fund administered by the Health Insurance Authority. Under section 11C of the Act risk equalisation credits are paid from the Fund to registered undertakings. The audited accounts of the Risk Equalisation Fund will be published as part of the Authority's Annual Report for 2013 shortly.

Comments

No comments

Log in or join to post a public comment.