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What else can I help you with?
Can you deduct COBRA payments on Schedule C?
No, COBRA payments cannot be deducted on Schedule C.
How can I pay my COBRA premium?
You can pay your COBRA premium by sending a check or money order to the address provided by your COBRA administrator, setting up automatic payments through your bank, or paying online through the COBRA administrator's website.
What are the eligible benefits for Cobra coverage?
COBRA coverage allows individuals to continue their employer-sponsored health insurance for a limited time after leaving a job. The eligible benefits for COBRA coverage include the same health insurance coverage as when employed, but the individual is responsible for paying the full premium.
What type of insurance options are available for individuals in between jobs?
Individuals in between jobs may have the option to purchase COBRA insurance, enroll in a spouse's employer-sponsored plan, or apply for a short-term health insurance plan.
What are the benefits of having cobra eye insurance coverage?
Cobra eye insurance coverage provides benefits such as access to vision care services, including eye exams, glasses, and contact lenses. It can help individuals maintain their eye health and address any vision problems that may arise.
Can you deduct COBRA payments on Schedule C?
No, COBRA payments cannot be deducted on Schedule C.
Are cobra payments tax deductible?
Well...not exactly. (And as an aside, the medical benefit given to you when you were an employee wasn't taxable).Medical costs, including health insurance (which is what COBRA is) are only deductible to the amount they exceed a fairly large (I believe its 7.5% ) of adjusted gross income. NOTE: Some States have a much lower threshold for their income tax.
Is there a way to lower COBRA payments?
no, unfortunately.
Continuation of group health insurance under COBRA law?
COBRA health insurance laws are complex. However, from what I gather, certain individuals are eligible to receive a reduction in their premium payments. You can find some more information in the link below. I would definitely consult an expert in COBRA law about your specific circumstance.
How can I pay my COBRA premium?
You can pay your COBRA premium by sending a check or money order to the address provided by your COBRA administrator, setting up automatic payments through your bank, or paying online through the COBRA administrator's website.
What is a cobra payment?
Under certain circumstances, a separated employee may retain his group health coverage at his own expense. COBRA (Consolidated Omnibus Budget Reconciliation Act) payments are these post-employment health insurance payments.
Can you deduct insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
How much does it cost for COBRA health insurance for a family of four?
As of 8/2011 a health policy for a family of 4 in the U.S. costs between $5,000 and $6,000 per quarter. That's $2,000 per month. That is equivalent to a home mortgage payment on a $200,000.00 home. That is a figure based on a HIGH deductible. If you want a low deductible plan on spending significantly more per month on the policy. Being a HIGH deductible, you pay 100% of your medical bills till you hit your individual deductible (per individual covered, not accumulative as a family) Then they will pay 80% of the bills THEY DECIDE are acceptable to pay. It's a ripoff! don't do it. Make payments until this problem is resolved (nowhere close to that occurring)
What are the penalties for failing COBRA compliance?
There are financial penalties if individuals or companies fail COBRA compliance. These are enforced by the IRS (Inland Revenue Service) and DOL (Department of Labour).
Can you deduct group insurance premiums on taxes?
Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.
What are the eligible benefits for Cobra coverage?
COBRA coverage allows individuals to continue their employer-sponsored health insurance for a limited time after leaving a job. The eligible benefits for COBRA coverage include the same health insurance coverage as when employed, but the individual is responsible for paying the full premium.
Which cobra is better a 94 cobra or 98 cobra?
94
