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What else can I help you with?
Can insurance co-pay be tax deductible?
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.
What is the average deductible for medical travel insurance in Europe?
The average deductible for medical travel insurance in Europe depends on specific aspects of the traveler and the trip. Age of the traveler, length of the trip, and medical limits all factor into the deductible of the insurance.
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 the cost of medical insurance deductible?
Yes. Health insurance premiums are tax deductible to an individual under IRC Section 213(d).
Are long term care insurance premiums tax deductible?
Yes, it is. Long term care insurance premiums are tax deductible. Premium payments are considered to be medical expenses and they are deductible as long as the medical expenses exceed 7.5% of the individual's income.
Can you write off medical insurance taken out of your paycheck?
The employee contribution for medical insurance IS deductible. * Yes, but the employer must have an IRS Section 125 plan, also known as a "cafeteria" plan. Adopting the plan imposes fairness rules, and other administration provisions such as enrollment periods.
A is the amount the employee must pay on a yearly basis before supplementary healthcare benefits begin?
A is the annual deductible that an employee must pay out-of-pocket for healthcare expenses before their supplementary healthcare benefits kick in. This amount typically varies depending on the specific health plan chosen by the employee. Once the deductible is met, the insurance will start to cover eligible medical expenses, reducing the overall financial burden on the employee.
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.
What is a situation in which people have to pay a deductible?
When their insurance policy only covers part of a medical expense
What are the words 'insurance deductible' when translated from English to Spanish?
You say " seguro deducible"; but if it is a medical insurance then you say" Seguro medico deducible"
What does 'a medical deductible' mean?
That is insurance terminology. It is a portion of a covered claim that the insurance company will not pay and that you have to pay to the doctor or hospital yourself.
Is it worthwhile if you travel a lot to have a low deductible insurance?
Yes, if you travel a lot it would be helpful to have a low deductible insurance. You would be out of your network most of the time, and in the case of needed medical treatment, you do not want your deductible to be so high that you cannot afford the treatment.
