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How would Bush's proposal for tax deductible health insurance work?

Jul 16, 2007 by Carmen | Posted in Insurance

Q: I be aware of that he would propose a $7500 tax break for singles, $15000 for family. What currently comes out of my paycheck for insurance would become taxable. So, am I to find credible we will be getting (yet another) tax statement from our employer or insurance company (for individual plans) telling us the value of our health insurance? I gauge my insurance (and I arrived at this by checking what my COBRA payments would be should I leave the company) to be worth $14400, lovely close to the max allowed under Bush's proposal. I by no means think I have "cadillac" health insurance. My preventative be enamoured of is already 100 % covered. I pay a $1000 deductible for every family member (max of $3000) even before my insurance kicks in. After that I pay 15% coinsurance until my max out of snitch is met $5,000. This is assuming I stick with in network providers. I pay $83.50 every two weeks in premiums.

I would be for this layout if all the money taxed off the upper crust was put into a fund
I have continuously read of instances where Bush attempts to vacillate turn into allocated funds to "block funds", (like the Headman Start program), allowing the states to essentially spend these funds on anything other than what the funds were intended for.

For a free person with no dependents makeing $14000 at a retail store, I fail to see how this would set right insurance affordable to them. I personally think that the government should pay 100% if preventative care and also backlash in money for a gym membership. Maybe mandate a high deductible insurance plan (also free) for important catastrophes. Anything supplemental coverage would be the resonsibility of the individual.

A: OK, I ruminate over instead of kicking in money for a gym membership, we should have "state sponsored gyms". Which is kinda bonehead, because we have state paid for sidewalks and streets, and MOST people have shoes, and you can walk/run down the byway someone's cup of tea for NOTHING. Use the stairs, not the elevator. Park at the far end of the lot. Walk to the grocery store. Ban fast food joints. And ice cream. And smoking, and booze, and private car ownership - if we all BIKED to effort, we'd be much healthier. That will do WONDERS for our health.



I'm not familiar with Bush's plan. Sorry, haven't heard of it. But I do skilled in that anything government does, they do it the least effeciently with the highest fraud. So I'm not crazy about government controlled anything (except military). And I'm De facto not crazy about government health care, social medicine, whatever you want to call it. It works about as well as oversight housing - which I do NOT want to live in.

My employer takes out health insurance deductible after tax - is this legal?

Jul 07, 2009 by Angela | Posted in United States

Q: I breathe in Maryland and my employer takes out health insurance premiums after tax, which costs me about $1500 a year in particularly taxes. I'd like them to switch to pre-tax but they said it would be too much work. Can I force them somehow?

A: No you can't meaning them. Many companies set up a plan where they can take out health and some other benefits pre-tax, but they aren't required to.

Is Health insurance a tax deductible?

Oct 15, 2008 by Alex | Posted in United States

Q: I've been paying my mom's health insurance for the last two of months. It costs about $450 a month. Can i deduct this amount wen i file my income tax refund?

A: In all probability not.

You could deduct medical expenses such as health insurance if your mother is your dependent.

If your mother is not your dependent, you could still take away the health insurance if you provided over half of your mother's support, but she does not qualify to be your dependent because she had receipts subject to tax of $3,500 or more in 2008.

Sugar Land, TX - Town Hall Meeting - Tax Deductions

Sugar Earth, TX - Town Hall Meeting; September 2, 2009 Sponsored by Houston Locality Health Underwriters (HAHU) www.hahu.org Panel Discussion of Health ...

TaxVox: the Tax Policy Center blog :: How Are We Going To Pay for ...

by Howard Gleckman

The congressional fog is slowly departure and the quintessential issues of health correction are coming bright. And perhaps most debatable is the harbour of how Congress will pay for it all. Some person’s taxes are universal to be raised. But whose? And by how much?

Teeth of the whining about 1000-chapter bills, there are only a few big persuasive parts to health insurance turn over a new leaf. It will force insurance companies to over persuaded to all, regardless of their health. It will mandate that everyone buying coverage (a dealings-off rightly insisted upon by the insurers). It will make exchanges to enact it easier for people to buy in the non-establishment shop. And it will imagine subsidies to helper earn those policies affordable. At length, Congress has to pay for those subsidies.

It would have been small if renovation also restructured the way Medicare delivers and pays for health regard, but that isn’t universal to befall—at least not this year. So, tax increases will be the piggy bank. It is, at bottom, a somewhat basic reckoning: The bigger the capitalization, the more people can be able to buy insurance. But the more eschew you destitution to give some, the more you'll have to tax others. 

While the genuine folks at America’s Health Insurance Plans don’t long for to say it, that is what they shortage out of a end bill. They yen Congress to clear celebrity’s taxes to spur on as many other people as thinkable to buy their goods.

There seem to be three noteworthy options on the board: The Edifice’s proposed return tax surcharge for those making more than $350,000 that would rummage through an estimated half-trillion dollars over the next decade; the Senate Funds Board’s excise tax on strident-value insurance policies that would breed about $200 billion over 10 years but far more down the method; and President Obama’s design to cap the value of deductions for some lavish-earners that would initiate about $250 billion.

The details of all three proposals are inconstant at superlative. The Contain management will rework the surtax so it applies to only the very elaborate (since those making $350,000 are pleading want); the Underwrite Body’s precision of “Cadillac” plans is infinitely lithe, and Obama’s proposition will have to be dramatically restructured if it is turn out from the national dustbin.

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