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Are AFLAC payments deductable

Can I deduct my biweekly Aflac payments? If so where do I do that
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bwa
Alumni
Alumni

Are AFLAC payments deductable

Premiums on accident and health policies like some AFLAC policies (generally, policies that pay you a guaranteed amount each week for a stated number of weeks if you are hospitalized for sickness or injury) such as many cancer policies are not deductible. From IRS Pub 502:

You cannot include premiums you pay for: ...

·         Policies providing payment for loss of earnings,

·         Policies for loss of life, limb, sight, etc.,

·         Policies that pay you a guaranteed amount each week for a stated number of weeks if you are hospitalized for sickness or injury, ...


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3 Replies

Are AFLAC payments deductable

Are the AFLAC payments for supplemental health care insurance premiums or primary health care premiums that you pay with out of pocket funds?

Are AFLAC payments deductable

These are from a couple years ago, but should still apply to the situation.
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2366001-are-aflac-premiums-deductible">https://ttlc.intuit.com/que...>
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2296544-can-you-deduct-premiums-of-supplemental-insurance-like-afl...>
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
bwa
Alumni
Alumni

Are AFLAC payments deductable

Premiums on accident and health policies like some AFLAC policies (generally, policies that pay you a guaranteed amount each week for a stated number of weeks if you are hospitalized for sickness or injury) such as many cancer policies are not deductible. From IRS Pub 502:

You cannot include premiums you pay for: ...

·         Policies providing payment for loss of earnings,

·         Policies for loss of life, limb, sight, etc.,

·         Policies that pay you a guaranteed amount each week for a stated number of weeks if you are hospitalized for sickness or injury, ...


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