- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Health Care Premium Deductions
My employer's offered healthcare costs are rising significantly so they have offered if we find a less expensive plan on the marketplace they will still cover 50% of the premium. The way they will do this is by paying it in our salary each month, but not listed as a reimburement, effectively increasing my taxable income. I don't itemize so I am wondering if it is still possible to deduct the healthcare premiums or if they would need to meet the unremibursed medical expenses threshold first?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
the premiums can only be deducted on Schedule A (assuming you itemize). And only the part that exceeds 10% (2019) of your AGI is eligible.
Also, please read this article
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
i don't itemize, is there anywhere to list the portion of this that would be a reimbursement so that i'm not taxed on it?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Only other way is for employer to pay the premium and reduce your wages so in effect you are paying with ore-tax dollars