health insurance?
Monday, August 25th, 2008 at
10:27 pm
chan_jay asked:
My company allow me to buy my parent’s health insurance with me. can i include that amount into my itemize deduction? even though my dad file his own tax return; my dad is not a dependent on my tax return;
My company allow me to buy my parent’s health insurance with me. can i include that amount into my itemize deduction? even though my dad file his own tax return; my dad is not a dependent on my tax return;
Tagged with: Health Insurance • Insurance • Insurance Company
Filed under: Health Insurance
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1) Most employer provided health insurance is deducted pre-tax so there is no deduction on the tax return.
2) Your parents must be your dependents (or would have been your dependents except for the gross income test) for you to take a deduction anyway. So, unless you are supporting them: No.
No, you can’t claim medical expenses, health insurance or any others, for a person who isn’t your dependent.
Here is an article i found on health insurance with information and tips etc. Hope it helps.
Im looking into getting some private health plan but am unsure of who to go with, a few people have recommended HSA, can anyone back this up?