Saturday, January 2, 2010

Supplemental Medical Insurance Supplemental Health Insurance Benefit Taxable?

Supplemental health insurance benefit taxable? - supplemental medical insurance

I Conseco Medicare supplementary insurance, such as cancer, heart / stroke insurance and accidental injury.
Are the benefits (money) to pay to me directly this as income?
My medical expenses for this year, well above 7.5% of gross income benefit is paid by my great health insurance (Blue Shield). So I should be a deduction on my income.
However, I heard the benefits of additional insurance benefits such as life insurance are not considered taxable income, it is not necessary to state benefits such as income. Of course, if he does not explain the premium paid for me to buy additional health insurance as an expense either. Please help.

1 comment:

cdrr_98 said...

I think it is like any other health insurance ... Medical expenses are tax deductible premiums and benefits that reduce the costs reimbursed med ... The difference should be deductible to the extent they exceed 7.5% of their adjusted gross income.

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