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If you incur medical expenses for cancer and have private medical insurance that covers cancer is the insurance payout considered taxable income?
No. You have already paid taxes on the money that you used to pay the insurance premiums.
I am an insurance agent that works for a company that sells cancer insurance. Your payouts MAY be subject to taxation if your premiums were paid through your employer, and they pre-taxed them. It is important to seek the advice of a tax professional to ensure that you report all necessary income.
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Is a new company required to cover your medical dental and vision insurance if you have cancer and you were covered with your old company?
\n Answer \n. \nYes, if you're talking about Employer Group Insurance.
health insurance . \nMost states have a state risk pool for people that can not get traditional health insurance. Check out your state's insurance website.
Life Insurance payouts are income tax free. More info see the attached link.
Answer . You don't say how alcohol was involved. If you are drunk driving and wreck and hurt yourself, passengers others, barring any policy exclusions to the contrary yes…, there is coverage, if you could be more specific I could be of more assistance.
Medical expense insurance: Covers some or all of the out of pocket expenses paid by the insured for covered medical expenses. Disability insurance: Makes up for some or all …of the income lost during the disability of the insured.
Can medical expenses not covered by insurance be deducted in calculating net income for child support determination?
That's called a rebuttable presumption. see links
S/be Non Taxable. I thought one of the things on the table for Obama Care would be to tax Employee Medical Contributions. I am looking at a W2 for the last two years and it i…s taxable in both years. Is this legit?
As long as it isn't pre-existing, then I think pet insurance companies do cover cancer.
I assume you mean the premiums paid by your employer as an employee benefit. No, they will not be taxable. The change to the law for 2011 requires that the value of health …insurance be reported on the W-2, but it is not being counted as taxable income. Why require the health insurance cost be reported on the W-2 at all? "The new health insurance law will eventually penalize people who are not insured with a tax penalty. The W-2 reporting requirement will help the Internal Revenue Service verify that people have coverage, both for themselves and their dependents. There's also a tax on the so-called "Cadillac" or "gold-plated" health insurance policies, which are policies that cost significantly more than the national average. The W-2 reporting will allow the IRS to more easily collect the tax. We should also emphasize that the Cadillac tax doesn't go into effect until 2018, and it will apply to health insurance plans that cost more than $10,200 for individual coverage and $27,500 for family coverage, with some exceptions for people in high-risk categories. Most people will not be affected by the tax; analysts expect it to hit fewer than 20 percent of all policies."
Private medical insurance is medical insurance that is purchased directly through a provider and not through the state. For example Blue Cross Blue Shield is a private medical… insurance provider.
Coverage under private insurance varies greatly based on your carrier and your deductible. Most private medical insurance is a cushion against major catastrophes like a sudden… heart attack.
Yes, you can purchase a child-only health insurance policy. Depending upon what state you live in, these may be available only during an annual open enrollment period. If y…ou are part of an employer group health plan, you will generally have to enroll yourself as well as the child. The employer plan will cover your cancer-related care, after you have been on their plan for 12 months. Or it will cover it right away, if you have not had more than a 63-day gap in your health insurance. For more plain and simple answers to health insurance questions, visit the Health Unsurance blog in the related link.
The coverage of medical insurance varies, depending on the company and the plan chosen by the individual. Medical insurance may cover (entirely or partially) annual physical e…xaminations, routine blood work, blood glucose tests, blood pressure and blood cholesterol monitoring, cancer screenings, electrocardiogram and X-rays, if needed, and recommended immunizations.
Corporate health insurance covers many individuals as a group. This allows companies to purchase health insurance for their employees at a better rate than other types of ins…urance.