Today TaxMama hears from Deborah in North Carolina, who asks. “My payment of Group Medical Insurance is deducted from my salary BEFORE taxes are deducted. Can I claim the amount I pay for Insurance on my income tax return?
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Dear Deborah,
Good question.
Since you’re already not paying tax on that part of your salary, you’re already getting the tax benefits. You don’t get to deduct the medical costs again. That would be double-dipping.
But if there is any part of your medical that was paid after tax – that you can use!
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I know, the article didn’t make that clear. But you can only deduct medical expenses if you haven’t already gotten a tax benefit. https://snurl.com/febtodo
Some small companies don’t offer premium only plans (POPs) or flexible spending accounts. They don’t understand just how much of a tax break the employer gets from these plans. They only see the complicated administration issues.
The employers set up group insurance and have the employees pay all or part of it, only because the employees get better medical insurance rates that way. Or some high-risk employees wouldn’t be able to get coverage without a group plan.
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Incidentally, it’s not just pay stubs from wages where you’ll find these medical insurance costs. You can also find them on pension pay stubs. And those are generally not pre-tax expenses.
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And remember, you can find answers to all kinds of questions about medical expenses and other tax issues, free.
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Where? Where else? At TaxMama.com
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