Finance Act 2012

Amendment of section 470B (age-related relief for health insurance premiums) of Principal Act, etc.

6.— (1) Section 470B of the Principal Act is amended in subsection (4)—

(a) in subparagraph (i) by substituting “1 January 2013” for “1 January 2012”,

(b) in clause (II) by inserting “but before 1 January 2011” after “2010”,

(c) in clause (III) by inserting “but before 1 January 2012” after “2011”,

(d) in clause (III) by substituting “such total annual premium,” for “such total annual premium, and”,

(e) by inserting the following after clause (III):

“(IIIa) as respects a relevant contract renewed or entered into on or after 1 January 2012, the amount specified in column (5) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium, and”,

and

(f) by substituting the following for the Table to that subsection:

“TABLE

Class of insured person

Amount of age-related tax credit

Amount of age-related tax credit

Amount of age-related tax credit

Amount of age-related tax credit

(1)

(2)

(3)

(4)

(5)

Aged 50 years and over but less than 55 years on the date the relevant contract is renewed or entered into, as the case may be.

€200.00

€200.00

Nil

Nil

Aged 55 years and over but less than 60 years on the date the relevant contract is renewed or entered into, as the case may be.

€200.00

€200.00

Nil

Nil

Aged 60 years and over but less than 65 years on the date the relevant contract is renewed or entered into, as the case may be.

€500.00

€525.00

€625.00

€600.00

Aged 65 years and over but less than 70 years on the date the relevant contract is renewed or entered into, as the case may be.

€500.00

€525.00

€625.00

€975.00

Aged 70 years and over but less than 75 years on the date the relevant contract is renewed or entered into, as the case may be.

€950.00

€975.00

€1,275.00

€1,400.00

Aged 75 years and over but less than 80 years on the date the relevant contract is renewed or entered into, as the case may be.

€950.00

€975.00

€1,275.00

€2,025.00

Aged 80 years and over but less than 85 years on the date the relevant contract is renewed or entered into, as the case may be.

€1,175.00

€1,250.00

€1,725.00

€2,400.00

Aged 85 years and over on the date the relevant contract is renewed or entered into, as the case may be.

€1,175.00

€1,250.00

€1,725.00

€2,700.00

”.

(2) The amendment to section 470B by section 5 (c) of the Health Insurance (Miscellaneous Provisions) Act 2011 shall be deemed never to have been enacted.