What is tax-excellent health insurance, how much tax can it offset, and what are its advantages and disadvantages?

Do you know the tax excellent health insurance? In fact, tax-excellent health insurance was first piloted in May 20 15, and was extended to the whole country in July 20 17. Previously, tax-excellent health insurance products only had medical insurance.

In August, 2023, the document 1 was officially implemented, which expanded the scope of commercial health insurance products applicable to individual tax concessions. Let's talk about related topics.

What is tax excellent health insurance?

In fact, tax-excellent health insurance is a kind of health insurance that can enjoy personal income tax preferential policies and is underwritten by commercial insurance companies. The purchase of commercial health insurance with preferential policies for individual income tax is allowed to be deducted before tax when calculating taxable income in the current year (month).

In other words, the insured can increase the threshold of monthly personal income tax in 200 yuan by purchasing tax-excellent health insurance. Moreover, tax-excellent health insurance can be used to reimburse outpatient and emergency expenses and hospitalization expenses, and it also has certain savings.

How much tax can it offset?

It is an insurance product that can help the insured to deduct the taxable income of personal income tax up to 2400 yuan per year. That is to say, pre-tax deduction is allowed when calculating taxable income in that year (month), and the limit is 2400 yuan/year (200 yuan/month).

How much can tax-excellent health insurance save? Let's call it an account:

Take the 26-year-old Mr. Liu as an example: he chooses to pay 20 years and 2400 yuan a year, so the accumulated payment is 48,000 yuan. Mr. Liu's personal income tax rate is 20%. He can apply for tax refund for 480 yuan every year during the payment period, and finally he can save 9600 yuan.

Advantages and disadvantages of tax preferential health insurance;

The advantages are:

You can enjoy tax benefits, and you can quickly get the tax priority identification code after online insurance. At this time, it is convenient to fill out the tax application when filing tax returns. The product range is extended to medical insurance and long-term care insurance, as well as commercial health insurance such as sickness insurance, and the optional range is expanded. Products cover outpatient medical treatment, inpatient medical treatment, long-term care, health management, special drugs, specific medical devices and other health protection. The group of insurance companies has also expanded, from the initial single taxpayer to the taxpayer family. The insured can insure himself or his spouse, children or parents. According to the relevant person in charge of Pacific Health Insurance, the product also provides a "family list" discount, and two or more family members can enjoy a 15% discount when they are insured together. Products cover people aged 0-70, ensuring that the elderly have no worries about insurance. In addition, patients with chronic diseases can also be insured normally. In other words, the insurance threshold is very loose, there is no health notice, and there is no occupation. This kind of insurance is especially friendly to people with poor health and has no restrictions on past diseases. We support sickness insurance.

Tax-excellent health insurance has no waiting period, which is very convenient. In other words, after successful insurance, the insured can apply for reimbursement at any time when he is sick. In addition, tax-excellent health insurance can guarantee the renewal of insurance to the statutory retirement age, so that the insured has no worries. Disadvantages are:

Tax-excellent health insurance has a significant disadvantage, that is, many tax-excellent health insurance can only be purchased through the work unit group, and individuals cannot purchase it alone. The overall premium is higher and the overall insured amount is lower. Tax-excellent health insurance has a minimum annual premium of 2,400 yuan, but the annual coverage is generally 200,000, and the lifetime quota is 800,000, until the stock is delivered. In a word, I suggest you make a full comparison of various insurance products before buying tax-excellent health insurance. After all, everyone's actual situation is different.

The advantages and disadvantages are also listed above. You can make a reference, make a comparison and choose a plan that suits you. If you really don't know how to choose, don't rush to buy it. You should fully communicate with professionals. Finally, choose the insurance that suits you.