Indemnity Refund
GMS GPs with panel size of 100+ can apply to their CHO for a refund of their Medical Indemnity Insurance. In order to claim a refund a GPs must submit a cover letter with their renewed Medical Indemnity Insurance certificate to their CHO.
Once a refund is approved, the CHO will forward claim to PCRS for payment. Details of payment will appear on the GP’s monthly Itemised Listing under ‘Capitation Summary’. The refund is calculated as a percentage of the net premium paid by the GP. The net premium is the gross premium less the benefit which the doctor receives as a tax rebate on the total amount.
Panel Size | % Refunded |
100-250 | 10% |
251-500 | 25% |
501-1000 | 50% |
1001-1199 | 75% |
1200+ | 95% |
Rural Practice Allowance | 95% |
Calculation of refund of medical indemnity premium:
(a) Doctor's premium (gross) = €6,629.44
(b) Multiplied by 90% (amount allowable by Revenue Commissioners) = €5,966.50
(c) Tax allowance (amount at (b) multiplied by the marginal rate of tax @ 40% ) = €2,386.60
(d) Net premium (i.e. amount at (a) less amount at (c)) = €4,242.84
(e) Refund based on panel size of 1,100 (i.e. 75% of net premium) = €3,182.13