- quote -

I am certainly NOT sure but......
If his employer has a Flexible Spending Account (which are
usually funded with pre-tax dollars) can he use his premiums
as reimbursable items under the FSA??

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Herb Smith" <smithff33[at]aol.com> wrote:
- quote -

What if he qualifies for a health care savings account. Can
the insurance premiums be paid from that account?

Stu

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

- quote -

You can add the insurance premiums to any other deductible
medical expenses that you claim on Schedule A. Total medical
expenses are reduced by 7.5% of AGI to determine the actual
deductible amount. If your total medical expenses, including
the insurance premiums, are less than 7.5% of AGI, then you
have no deduction.

Bob Sandler

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Taps wrote:

- quote -

The premiums for your employer's medical insurance plan are
paid with pre-tax funds, under a plan established by the
employer. Your BlueCross premiums are paid with after-tax
funds, but are deductible on Schedule A (subject to the 7.5%
of AGI limitation). Your pre-tax premiums (company plan)
cannot be deducted on Schedule A.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

Last year I decided to go with the individual
healthinsurance plan from BlueCross. Prior to that I was
with my employer's medical plan (cafeteria plan) - where I
was getting the pre-tax dollar benefit. But with the
individual plan that I am in, I wanted to ask if I am
eligible for a similar pre-tax dollar benefit - what can be
done rather than pay a higher tax. I am on a W2. Do not
have any company / corp. under my name.

Thanks.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >