Bik Calculator Ireland 2017 Health Insurance
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Reviewed by Calculator Editorial Team
The BIK (Basic Income for Kids) program in Ireland in 2017 provided financial support to children through health insurance premiums. This calculator helps you estimate your child's health insurance costs under the BIK program.
What is BIK?
The Basic Income for Kids (BIK) program was a social experiment in Ireland that aimed to provide financial support to children through a guaranteed income. One of the key components was health insurance coverage to ensure children had access to necessary medical services.
In 2017, the program was active and provided health insurance premiums to eligible children. The exact amount varied based on factors like age, family income, and other eligibility criteria.
Health Insurance Calculation
The BIK health insurance premium is calculated based on several factors including:
- Child's age
- Family income level
- Number of children in the household
- Existing health insurance coverage
Formula
The basic formula for calculating the BIK health insurance premium is:
Premium = Base Amount + (Age Factor × Age) + (Income Factor × Income Level)
Where:
- Base Amount = €100 (minimum premium)
- Age Factor = €5 per year (for children under 18)
- Income Factor = €10 per €1,000 of family income (capped at €500)
The final premium is then adjusted based on the number of children in the household and any existing coverage.
How to Use This Calculator
To calculate your child's BIK health insurance premium:
- Enter your child's age
- Select your family's income level
- Enter the number of children in your household
- Click "Calculate Premium"
The calculator will display your estimated premium amount and provide additional information about the calculation.
Example Calculation
Let's calculate the premium for a 12-year-old child with a family income of €30,000 and 2 children in the household:
Example
Premium = €100 + (€5 × 12) + (€10 × (€30,000 ÷ €1,000))
Premium = €100 + €60 + €300 = €460
After adjusting for 2 children, the final premium would be approximately €420.
This example shows how the age and income factors contribute to the total premium amount.