The taxation of Group Insurances: The grace period will end soon

Thanks to the concept of self-care coming into the foreground, group personal insurance became a popular form of benefit provided by employers. Last year’s amendments of the tax laws, however, in addition to significantly reducing the options available in the field of cafeteria benefits, also eliminated the tax-exemption of risk insurances. The transitional provisions provided sufficient time for taxpayers for the preparation, since it was still possible to apply the previous rules until
the end of 2019 for those insurances, whose insurance years started in 2018. This grace period, however, will end soon, therefore it is worth thinking over the taxation of the different insurance arrangements in the changed regulatory environment.

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