I pay health insurance, deducted from my paycheck at work, for my daughter. Can I claim that on my taxes as a deduction?
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If it comes outof your paycheck, then it is eligible to be deducted on a pretax basis, under section 125 of the IRS code. If it comes out before tax, you cannot deduct it because you already have gotten the benefit of deducting it for tax purposes. If it comes out after tax, current laws do not allow you to deduct the premium from your tax return. This is something that has been proposed, but has not been passed into law yet.
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Thursday, December 23, 2010
how do health insurance companies make make money?
I have to write a research paper about the health insurance companies and I have many questions to answer within my paper. I am stuck on these two questions can anyone help me please? Please cite you sources thanks. how do health insurance companies make make money? What kind of problems are health insurance companies facing?
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Health insurance companies make the majority of their money, from investment income from the "reserves" they invest. They only make about 2% off of the premiums they charge to their policyholders. The biggest problems, are increasing claims costs, increasing medical identity fraud, and increasing governmental regulation.
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Health insurance companies make the majority of their money, from investment income from the "reserves" they invest. They only make about 2% off of the premiums they charge to their policyholders. The biggest problems, are increasing claims costs, increasing medical identity fraud, and increasing governmental regulation.
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Can a condition make you ineligible for individual health insurance, yet accepted under group employer plans?
. . . in some states? Thus in effect stating that if you're good enough to be employed (at an employer that still offers health insurance), then you have to be health-insurable.
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Yes, individual plans are harder to qualify for. Employer contracts with insurers generally require all employees to be accepted for coverage
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Yes, individual plans are harder to qualify for. Employer contracts with insurers generally require all employees to be accepted for coverage
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Republicans whats the difference between being forced to buy health insurance and car insurance?
If it is unconstitutional to force some to buy to health insurance how is it constitutional to force people to buy car insurance??
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You're not being forced to buy a car and participate in mandatory insurance. Also, it's a State issue, as health insurance should be.
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You're not being forced to buy a car and participate in mandatory insurance. Also, it's a State issue, as health insurance should be.
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Why does the Right LOVE health care insurance companies?
I can only guess that millions of dollars have gone into the campaign funds of GOP candidates from the health insurance lobby. And, what good does this industry do? Its a wonderful deal they have going on. A monthly recuring revenue stream of insurance premiums and all they have to do is deny as much coverage as necessary to make a profit. The service they provide is an artificial requirement because of the idiotic way payment for our health system is handled.
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because if you tell a conservative it's the "free market"... you can price gouge them all day and they won't care in the least... remember ENRON?
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because if you tell a conservative it's the "free market"... you can price gouge them all day and they won't care in the least... remember ENRON?
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A question about the health insurance reform bill?
Does anyone know that if the health insurance reform bill passes whether or not you have to get your own insurance, even if you are on your spouse's plan? If you could cite your source(s), that would be really helpful. Thanks!
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As written now you will have coverage via your spouse's insurance. The requirement is that you are covered by an insurance policy. There is still a lot of wrangling before this gets through so stay tuned.
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As written now you will have coverage via your spouse's insurance. The requirement is that you are covered by an insurance policy. There is still a lot of wrangling before this gets through so stay tuned.
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how do you get health insurance for a person with a history of cancer?
my dads cancer is in remission. The Dr. told him his lungs are no good. He has no insurance to pay for home health sevices. Is there a company that will provide insurance to a person with a history of cancer and will be exspensive?
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Unfortunately, different insurance companies follow different guidelines. The only way to have COBRA is if he had worked and is still paying his premiums out of pocket. Even then most COBRA plans do not extend beyond around 12 months. You would have to call your local health insurance companies and find out if they accept people who have 'pre-existing' conditions. There are some out there, it is a matter of your locale. Good luck. NREMT-P
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Unfortunately, different insurance companies follow different guidelines. The only way to have COBRA is if he had worked and is still paying his premiums out of pocket. Even then most COBRA plans do not extend beyond around 12 months. You would have to call your local health insurance companies and find out if they accept people who have 'pre-existing' conditions. There are some out there, it is a matter of your locale. Good luck. NREMT-P
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