My insurance company wrote me a check directly for a health insurance claim. I'm not sure why they paid me, as opposed to directly paying the provider, who filed the claim. The provider is out-of-network, so maybe that's why. Anyway, my question is will I have to count this as income and pay taxes on it? It's roughly 25K. If so, I'll be wishing they would have paid the provider directly.
--------------------
Generally, no. If you paid the provider in an earlier year, and you deducted that payment on your tax return for that year, then the money that you receive now is taxable. If you have not yet paid the provider, or you paid the provider without taking a tax deduction for your payment to the provider, then it is not taxable.
Source
No comments:
Post a Comment