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I paid $4002.40 premium for a private health insurance. The plan paid out $2193.44. Can I claim the premium $4002.40 or do I claim the difference of the two, $1808.96.

 
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I paid $4002.40 premium for a private health insurance. The plan paid out $2193.44. Can I claim the premium $4002.40 or do I claim the difference of the two, $1808.96.

You can claim the premiums paid for Private or Extended Health Care in full, if you paid them yourself or your employer has paid them and include them in your income as a taxable benefit.

In your case, the premium paid was $ 4002.40.

 

To claim the payments of your health plan premium, include them with your other eligible medical expenses and claim the credit on line 33099 of your return.

 

If you are paying premiums under a plan managed by your employer, you will find the exact amount paid on your T4 Statement of Remuneration slip in Box 85 of the “other information” section. Only include this amount in the T4 information area and not in the medical expenses so they are not included twice.

 

The amount you have received from the insurance is not deducted from the premium. That amount is deleted from the other medical expense amounts you may have claimed but only paid part of. You can only claim expenses which you have not been paid back for.

 

Payments of Premiums for Private Health Services Plans 

 

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