Are health insurance costs deductible?
919928
Normally the amount of money you pay as insurance premiums for health insurance is not deductible.\n\nHowever, if you are a small business owner paying health insurance premiums for your employees and you use a tax advantaged plan like an HSA...you may be able to get certain tax breaks on your business' taxes.\n\nBut on personal income taxes you are not allowed to take a deduction on the amount you spend on health insurance premiums.\n\nYou can deduct certain medical expenses in excess of 7-1/2 percent of your gross adjusted income (AGI).
655185
A deductible is a set amount that you have to pay out of pocket before your insurance company begins to pay.\n\nA co-pay is an amount, either flat rate or percentage of office visit, that you're responsible for at each visit.
512630
There is a lower costing health insurance called KChip that is just for children. I don't know if it is just available in my state of Kentucky but you could type it in the search engine and they might have something similiar in FL for you.
203651
Very very hard, not only in Ohio but any state for that matter.  Of course it is always a matter of money, which in your case can become totally out unless you have millions.  Contact Blue Cross/Blue Shield or simiar in Ohio for guidance and more IMPORTANT contact your state Department of Health.  In most states there is a set up that provides "private" health insurance through a pool for people that have conditions not acceptable through the regular companies....of course its expensive.  In most cases they are set up by a pool of health insurance companies.  For example Texas has that set up.
13963
There are medical tax write offs you can do. But you need to combine it with a regular expenses too.. So basically yes/ with limitations
1002737
Too expensive. What if you had surgery, then you got an infection, a serious one? The health unsurance plans in America stink royally. We the payers are getting the short end of the stick for the large Insurance bill. Really good insurance comes from your local farm bureau. Check them out!
42060
No. Health insurance is a huge expense and it is their choice whether or not to offer it. Most will offer it to attract and retain quality employees. Alot of smaller business cannot afford to offer it to their employees.
426766
Actually, that first answer is wrong - maybe he didn't realize he was in the Canada taxes section.  You can claim any medical expenses that exceed 3% of your NET income.  I have no way of knowing what your net income is, but I'm guessing that it is probably too high for you to deduct medical expenses anyway.  If it IS low enough to allow you to claim the medical expense, then you are in a really low tax bracket, so not likely the $60 expense would result in a $60 tax saving.
975774
Mental health has more risk  then just medication cost to the insurance company. The cast of an inpatient stay is extremely high and they take that into account even if he is not that ill. \n\nAnd yes there is policy that most companies have that states that if they have had a certain illness with-in the last x amount of years then they will either be denied coverage totally, excluded that specific illness and cover all know things, make you pay a higher rate, or make you wait a certain time period for the illness to be covered by the policy. But like others have said if you get the policy through a job then it will not matter. And I hope he understands that the employer is not allowed to ask or inquire about someone health. HIPPA laws
166881
Your medical bills will probably be at least $2000 if that is your deductible. But the higher the deductible, the lower the premiums usually. Also, when you have health insurance, the doctors actually bill you less than if you didn't have it because the insurance coompanies negotiate lower prices from hospitals and doctors. Since you aren't pregnant yet, do go over everything with your insurance agent so there won't be any surprizes.
184080
First, Corrections:\nTerm, Whole, Variable, Universal, etc. are all forms of life, not health insurance.  \n\nSecond, Assumptions: \nSeveral assumptions are being made in my answer. \n1.You are looking for Health, not Life insurance.\n2.You are not eligible for insurance through your employer, therefore you have to get your own.\n3.You are a citizen of the United States.\n4.You are buying health insurance as an individual, in other words, you don't run your own business that can deduct the cost of insurance.\n5.You are under the age of 55.\n\nThird,  Know the true purpose of insurance:\nThis is important from a philosophical, as well as a practical standpoint. In all its forms, insurance is intended to “cushion” the individual from excessive financial burdens in the event of UNEXPECTED costs. While I abhor “capitalized screaming” the term unexpected is important! Most people believe that insurance implies a reimbursement. In the old days they called this a tontine. But this is not the purpose of health insurance. Health insurance was originally meant to keep you from going broke when some fool t-bone's you at an intersection, or you contract pancreatic cancer. That said and understood I can make a suggestion that can keep costs down, save on income taxes (if you itemize) and give you health coverage for regular health care needs as well as prevent catastrophic financial loss due to a serious health event.\n\nFourth, The Suggestion:\nLike him or hate him, George Bush got through Congress a great thing called “The Health Savings Account” or “HSA” for short. Basically it has two parts.  \n\nFirst, a savings account where you can save up to ~$2700 (single) or $5,450 (family), or your health plans deductible, per year, which ever is less.\n\nSecond, a high deductible health insurance plan that acts just like a regular Preferred Provider health plan or PPO for short. You pick a doctor from the company's list of MD's basically. This insurance plan will usually have a co-pay (some don't) and will protect you case some fool t-bone's you at an intersection, or you contract pancreatic cancer.\n\nBTW, I don't have any “skin in this game." Just went through it recently.  If this is all too confusing, get an independent insurance agent to help you, they should bend over backward to help. They make commissions when they sell these products.\n\nI wish you good health.
34056
Despite some efforts to create a national system, healthcare is still funded largely by joint employer/employee contributions, with the employer typically picking up 70-80% of the cost.  \n\nMore and more options involve HMO's, or health maintainence organizations.  They trade a low-cost co-pay (or insured share of medical cost) for managing practically every decision involving your care.  HMO's often make decisions based on financial considerations.  Other insurance plans are available, but at substantially higher prices.\n\nWith healthcare costs skyrocketing, largely due to vastly increased malpractice insurance premiums, a better solution is needed.  There has been continued talk of "tort reform" which reduces the liablility of a doctor or hospital in a suit.  Other "consumer-driven" insurance plans have been developed that put the insured in more of a position to determine how much his health care will cost.  My wife and I have such a plan, and it offers us some incentive to choose our doctor visits more carefully.
1075550
Do you mean health insurance/care?
582972
Read the following article for future of Cost Accounting in healthcare:\nhttp://www.ncbi.nlm.nih.gov/entrez/query.fcgi?cmd=Retrieve&db=PubMed&list_uids=10284497&dopt=Abstract
1041123
Medical premiums are an income tax deduction.  There are two ways to get this deduction.\n\nIf you work the government allows immediate relief by allowing the premiums to be paid on a pre-tax basis and therefore lowering your income tax.\n\nIf you don't work then you're allowed to deduct these premiums against any unearned income you have on your tax return.\n\nIf you pay no income tax in retirement then you can obviously not claim a deduction against taxes you have not paid.
303546
I assume you are the insured rather than the employer.  The COBRA premium you pay is treated like any other health insurance premium; in other words, as a medical expense on Schedule A.
286531
Medical expenses are deductible on your federal return, if they exceed 7.5% of your adjusted gross income.  Only the amount in excess of that percent is deductible.  As for your state return you will need to examine the rules there.\n\nAn example for the federal return:\nAssume you make $100,000  Just to make life easier.\nYou had $9,000 in medical expenses.\n7.5% of your income is $7,500.\nSo the amount of your expenses greater than $7,500 is deductible, in our example that is $1,500 ($9,000 - $7,500).\n\nIn short you really don't want to have enough expenses to deduct medically.  I think that there are some special rules for self employed people as well, but I don't know what they are.\n\nAs far as the charity stuff and child care, they are pretty well spelled out in the standard 1040 book.