Tax-Deductible Health Insurance, Savings

If you are planning to buy health insurance, we have some good advice about tax deduction from health insurance. Let’s have a look at the eligible amount and condition applied.

1. Health insurance premium paid for oneself

Policyholders are eligible for health insurance premium allowance. The eligible allowance amount is of the actual paid amount, but not exceeding 25,000 baht. If you have health insurance and life insurance or saving insurance, you are eligible for a deductible allowance of up to 100,000 baht.

2. Health insurance premium paid for parent(s)/spouse

If you pay a health insurance premium for your parent(s), you are eligible for a deductible allowance. The eligible amount is of the actual paid amount, but not exceeding 15,000 baht for each parent. (This is under the condition that the allowance claim for father is up to 15,000 baht, and the allowance claim for mother is up to 15,000 baht. And the income of each parent must not exceed 30,000 baht.) For a spouse, if your spouse has no income, you are eligible for a deductible allowance of the actual paid amount, but not exceeding 15,000 baht.

Tax-deductible health insurance premium is as follows:

1. Insurance that covers medical expenses due to illness and injury, disability compensation, and loss of organs due to illness and injury.

2. Accident insurance that covers medical expenses, disability, loss of organs, and bone breaking.

3. Critical illnesses

4. Long-term care

In addition, you’ll need to prepare the premium paid certificate with the following information:

1. The insurer’s first and last name and ID card number

2.The premium payer’s first and last name and ID card number

3.The insurance company’s name, address and tax ID number

4. Provide the amount of the health insurance premium paid for insurance 2), and the eligible tax-deductible allowance due to health insurance.

Not only does health insurance help with medical expenses, you can claim tax deduction from it too. If you are interested in buying rewarding health insurance that is eligible for tax deduction, learn more at www.axa.co.th.

*Terms and conditions are designated by the company. Please read terms and conditions carefully before purchasing insurance.