Health insurance tax deductible

Common Questions and Answers about Health insurance tax deductible

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290867 tn?1333572878 In Massachusetts it just went into effect that every resident HAS to have health insurance or you lose your tax exemption. Fortunately I have very good insurance at my job as does my husband but if we didn't, we would have to go the other route. I have seen some companies adverstising as little as 150 a month to get a tailor made policy to suit your needs. I would search the internet and look into it to see what you can find.
1310633 tn?1430227691 Therefore it is a tax. The Supreme Court on Thursday upheld the mandate to buy health insurance -- ruling that it is a tax and not a penalty as originally billed by supporters. "The federal government does not have the power to order people to buy health insurance," Chief Justice John Roberts wrote for a divided court. "The federal government does have the power to impose a tax on those without health insurance.
Avatar n tn Since I'm self employed I pay my own private insurance...is it tax deductable? Can I deduct all the nasty meds I'm paying for ?
626749 tn?1256519302 Insurance Companies pay Health care Providers far less for their services, than what Providers ask for. Probably a lot less than what we, as individuals, would pay, if we had to pay out of pocket, without ins co discount. Check out what the charges were for my heptimax test, and what the ins co (top of the line policy, Blue Cross Blue Shield) deems 'amount allowed' The lab requests $442 but accepts, $33 .....Thats less than 8% of their charged amount.
1901977 tn?1333995326 However, we both have good jobs with good insurance - I'm just not sure whose insurance she should go under? How does this work for single parents who both have insurance? Is there any particular reason why she should be under mine?
Avatar m tn “Our finding that support for single-payer national health insurance now approaches that of tax-based incremental reforms suggests that a Medicare-for-all-type plan may be more politically viable than conventional wisdom suggests......” "Of 3300 physicians sent the survey, 1675 (50.
Avatar f tn  You cannot have private health insurance, unless your private health insurance plan has a maternity-only deductible or copayment greater than $500 as of your date of application; andWithin the AIM income guidelines: You must have a monthly household income (after income deductions) within AIM income guidelines.
3221216 tn?1373643659 This program is scheduled to expire in 2014, when people with pre-existing conditions will no longer be locked out of the health insurance market. More young adults with insurance. All health plans must allow young adults to remain as dependents on their parent’s health plan until they turn 26, whether or not they live at home or can be declared as dependents on the parent’s income tax return. An estimated 6.
Avatar f tn I just want to know how much these doctors charge for each visit, each ultrasound visit....these people just know how to suck money out of you....I had 3 ultrasounds.....first one I had to pay $65 to doc and $65 for US....second one was fully covered as it was for week12...The full anatomy one also we have to pay around same amount to doc and US.... And doc was just repeating the same thing as US tech said while performing US....this part is this...this part is this...
Avatar m tn There have been lawsuits demanding the right to buy private health insurance. David Sebald, a Toronto-based health care consultant who has lived in the U.S., calls for a co-payment system to "eliminate the hypochondriacs." I guess it is according to which website you pull up and choose to believe. http://www.investors.com/NewsAndAnalysis/Article.aspx?
Avatar m tn I did find a decent plan with a $492 a month premium and a $5000 family deductible that had 0% coinsurance and $0 wellness/vaccinations/primary care provider visits and $40 copay for specialist and prescription drug coverage. What about pre-tax, post-tax deductions? Is there something going on with the PPACA that would require my husband's new employer to get more affordable coverage?
Avatar f tn If you're healthy and can bank enough to cover possible costs, you may score serious savings by picking a high-deductible health plan combined with a health savings account, a pairing offered by a rising number of employers. Such plans usually have the lowest premiums, and you can stash up to $6,150 tax-free for medical expenses, money that rolls over if you don't use it.
Avatar f tn State officials estimate as many as 615,000 individuals will buy health insurance on their own in the first few years the health law is in effect. In addition to lower premiums, about three-quarters of those people will be eligible for the subsidies available to lower-income individuals. “New York’s health benefits exchange will offer the type of real competition that helps drive down health insurance costs for consumers and businesses,” said Mr. Cuomo.
657315 tn?1319494987 but anyhoo----- I do have insurance that has a pretty high deductible as well as a copay. So if I am sick, I decide when is the right time to go to the doctor as the visit will cost me money. I don't go for every little thing and recover just fine. If someone else was paying for my healthcare ----- would I be more apt to go for every little ache, pain, sniffle? Having financial responsibility for my own healthcare means that I must be practical.
Avatar f tn But at this point, I’ve gone to a bunch of doctors, and have learned some things along the way about getting health care without health insurance. The more I know about the health care system, the less I do stupid things like get so sick I can’t function anymore. 1. Doctors aren’t just for the insured. If you don’t have health insurance, the immediate reaction is not to go, and to chew on a couple of echinacea pills and hope for the best.
649848 tn?1534637300 These tax-preferred accounts are a long-time favorite of many Republicans, who say they give consumers greater control over their own health care. The health law contains no deductible caps for individual plans or those offered by large employers, and the Department of Health and Human Services already had waived them for small businesses through 2015. The legislation means they will never go into effect.
206807 tn?1331939784 The guide said that Harvard faced “added costs” because of provisions in thehealth care law that extend coverage for children up to age 26, offer free preventive services like mammograms and colonoscopies and, starting in 2018, add a tax on high-cost insurance, known as the Cadillac tax. Richard F. Thomas, a Harvard professor of classics and one of the world’s leading authorities on Virgil, called the changes “deplorable, deeply regressive, a sign of the corporatization of the university.
1530342 tn?1405020090 S. residents. As a broader Medicaid safety net picks up more low-income people, new health insurance markets called exchanges will offer subsidized private coverage to the middle class. Both parts of the strategy take effect in 2014, at the same time that most Americans will be required to carry health insurance or pay a fine.
Avatar n tn Typically, the monthly premium on an HSA-eligible high deductible plan is less expensive than the monthly premium for a lower-deductible health insurance plan. • Contributions to an HSA may be made pre-tax, up to certain annual limits. • Funds in the HSA may be invested at your discretion. Unused funds remain in the account and accrue interest year-to-year, tax-free. • Not all high-deductible plans are eligible for use in conjunction with an HSA.
535822 tn?1443980380 The Affordable Care Act's requirement that certain individuals pay a financial penalty for not obtaining health insurance may reasonably be characterized as a tax," wrote Chief Justice John Roberts, in his majority opinion. "Because the Constitution permits such a tax, it is not our role to forbid it, or to pass upon its wisdom or fairness." Thus, the government can force Americans to buy anything it wants by simply characterizing the forced payment as a "tax.
535822 tn?1443980380 Obamacare adds a premium tax on health insurers that offer full coverage beginning in 2014. On average, the tax is expected to increase premiums by 1.9 percent to 2.3 percent in 2014 and between 2.8 percent and 3.7 percent by 2023. Combined with the other provisions in Obamacare, this tax will have a huge impact on the cost of premiums. 9. It creates a new unsustainable entitlement program.
Avatar f tn I got on a form of Medicaid through the state and it covers everything that my main insurance wouldn't. It will go down some when the deductible is met but where my big cost was, was the 20% that the insurance wouldn't cover. Definitely ask human services if they have anything that can help, and you can also do a payment plan with most doctors and hospitals.
1310633 tn?1430227691 Starting in 2014, health insurers will have to pay a fee to the federal government. The amount of the fee depends on the amount of “net premiums written” by the insurer during the year. Net premiums written is the amount of premiums paid to the insurer by plan enrollees and adjusted for the cost of any reinsurance (which guards the insurer from major financial loss) held by the insurer. Will all insurers have to pay the fee?
206807 tn?1331939784 "Pelosi says just pass the bill, read it later" http://www.youtube.com/watch?v=2uQvCpNx1O0 WASHINGTON (AP) — It's called the Affordable Care Act, but President Barack Obama's health care law may turn out to be unaffordable for many low-wage workers, including employees at big chain restaurants, retail stores and hotels. That might seem strange since the law requires medium-sized and large employers to offer "affordable" coverage or face fines. But what's reasonable?
422823 tn?1229740447 I am wondering if any of you face this, or if you have any advice/thoughts. My insurance has a new deductible and out of pocket maximum, and both of these start over in January. Basically, what this means, is that in any given calendar year the most we will have to spend out of our pocket it $3,000 before the insurance takes over and pays at 100%. Prior to us meeting this $3,000 out of pocket maximum, my insurance pays at 80%.
Avatar m tn As I stated I work at an insurance company and January of this year we were not given an option for our insurance. We were switched to a high deductible health savings plan and yes it cost much less, however the idea is that the money you save can be put into a health savings plan and you can withdraw money from that account tax free to pay for your office copays and medication copays. Then you have a deductible that must be met before your insurance pays 100%.
Avatar f tn I am a twenty three year old with an insulin pump, I can not go back on my parents insurance, but make too much money for medicaid. does anyone know ANY way that i can get healthcare help while i go back to college. There is no way i can go without insurance. I feel like everything is such a struggle. If anyone has any suggestions, it would help.
Avatar n tn , I highly doubt I will ever be able to purchase my own insurance if I need to. One of my biggest worries now is health insurance and what will happen if my husband nor I are able to get insured through our respective employers. Harry, my bill for 2-day hospital stay including cardiac cath, EP and implant of ICD came to over 200,000. Thank God it was fully covered by insurance.
565927 tn?1228577152 YOu just have to go to their websites - and they can give you assistance with either insurance or without insurance. They can write it off in tax dollars and it looks really good for them - but you have to fall within a certain income category. Much luck to you either way.
1310633 tn?1430227691 The policy forces individuals opting out of any form of health insurance to pay a “penalty fine”, which is more appropriately a tax. You must be signed up for health insurance by December 25, 2013 in order to Obamacare penalty. The original Obamacare penalty maxes out at $285 or one percent of the income for a family of four. In 2016, the Obamacare penalty maxes at $695 per person, $2,085 for the family, or 2.5 percent of taxable income, which amounts to $173.75 per month.