Sunday, February 27, 2011

Can I deduct monies that I paid for my health insurance through my employer?

I pay $200.00 a pay check for my health insurance. Is that money tax deductable?
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Most deductions for health insurance are part of a Section 125 benefits plan. As such, unless you told your employer to deduct them after tax, the premiums are deducted pre-tax. Check with your employer and see if your premiums are being deducted pre-tax. If they are deducted pre-tax, you get no further deduction.
Source

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