754. Deputy Ryan O'Meara asked the Tánaiste and Minister for Finance to consider increasing tax relief at source for private health insurance, given the price increases being experienced for a company (details supplied); and if he will make a statement on the matter. [60774/26]

Section 470 of the Taxes Consolidation Act ("TCA 1997") provides for tax relief in respect of payments made to authorised insurers under relevant contracts in respect of medical insurance and dental insurance.

Income tax relief is granted up to the standard rate of income tax (currently 20%), subject to certain limitations outlined below, on the amount of the premium, that covers benefits which are the reimbursement or discharge of health expenses within the meaning of section 469 TCA 1997 (health expenses tax relief).

The amount qualifying for tax relief is limited;

• in the case of an adult, to the lesser of the eligible premium paid or €1,000 per annum, and,

• in the case of a child, to the lesser of the eligible premium paid or €500 per annum.

A child for all such policies is a child under 21 years of age in respect of whom a child premium has been paid.

The current ceilings ensure a level of continuing support via the tax system for those who purchase health insurance policies, while reducing Exchequer exposure to more expensive policies. The relief is generally provided at source, which ensures that individuals on lower incomes can receive the full benefit of the available relief.

Health insurance tax relief is a long-standing and broadly utilised relief which is a considerable cost to the Exchequer. In 2023, the cost of health insurance relief was €450.2 million in respect of 1,414,794 taxpayer units.

Finally, and as the Deputy will appreciate, decisions regarding taxation measures are normally made in the context of the annual Budget and Finance Bill processes, at the appropriate time, and having regard to the sound management of the public finances.