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If you are referring to a MEDICAL/HOSPITALIZATION insurance co-pay, yes, that is deductible as a medical expense.

And on property/casualty insurance, it may be deductible as a casualty loss.

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Q: Can insurance co-pay be tax deductible?
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Related questions

Should doctors waive insurance copay and or deductible?

That's illegal


What kind of insurance is tax deductible?

Insurance for one's personal property such as auto or homeowner's insurance is tax deductible. Other tax deductible insurances are medical and dental insurances.


Is pet insurance tax deductible in Arizona?

Not deductible on your federal income tax return.


If you have a copay with your primary insurance but also have secondary insurance do you have to pay the copay before treatment?

Depends on the doctors office billing procedures. For more details visit www.SteveShorr.com yes, your secondary insurance should cover this amount if you have reached your deductible with them. Normally, if the primary insurance applies a deductible or co-insurance/co-pay and you have not met your deductible on your secondary policy, depending on your policy they may apply the remaining balance to your deductible. Normally after the deductible is met on the secondary ins. they pay 100% of your remaining balance.


Is life insurance tax deductible?

No.


What is the difference between copay and coinsurance when you have primary and secondary insurance?

A copay is a "set" dollar amount you pay at the time of treatment. For instance, a $35 doctor copay. If you have level one doctor visits, you pay nothing more than the $35 doctor copay. Co-insurance is the percentage you share with the insurance company after your deductible has been met. When you have two policies - your primary insurance will pay first (subject to deductible and co-insurance), and then your second policy starts with the balance left from the primary policy (subject to deductible and co-insurance again). For instance a primary policy with a 5,000 deductible and 80/20 co-insurance of $5000. Your bill for surgery is 6000. You pay 5,000 + 20% of $5000 (1000) = $6000.00 Your balance of your surgery bill is 0


Universal life insurance premiums tax deductible?

NO. Life insurance premiums would NOT be deductible on your 1040 federal income tax return.


If the non custodial parent is ordered to pay medical insurance for the child does that include the copay and deductible?

That's a good attorney question, but I would not think so. Copay and deductable would be medical expenses, not medical insurance.


Is private mortgage insurance tax deductible?

NO


Is business travel insurance tax deductible?

If you are self-employed you likely will be able to claim your travel insurance as a deduction. If you are not self-employed a portion of the travel insurance may be tax deductible.


What is Amount payable by insurance company for insurance?

This is the amount paid by the insurance company to the doctor. It is the negotiated rate less the amount that you paid in the form of a copay, a coinsurance, or a deductible.


Are life insurance premiums paid tax deductible by a business?

no,