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Are Life Insurance Premiums Tax Deductible

Steve Said:

health care reform y its good for the U.S?

We Answered:

Way too intelligent of a question for the YA section!

The only way that Health Care Reform is NOT good for the US is if more than 50% of all Americans make over $250,000 per year.
If that is the case, then it is probably a bad thing, since "free enterprise" would be very successful!

Why anybody with a brain, making less than this would be adverse to healthcare is beyond me. It is like saying that you want to purchase a lottery ticket where 1st prize is a trip to the morgue and 2nd prize is Bankruptcy.
Facts are :
1. The US is headed for devaluation of its currency by 50% relative to other industrial economies.
2. The US job situation is probably going to worsen as corporations flee America (ones that haven't already).
3. Most Americans will be unable to meet the basic necessities of life over the next 10 years, even if they have a very high paid job.
4. The Corporate tax base is going to evaporate and most other social supports other than healthcare will probably disappear due to lack of funding.

Sorry for the pesemism but the Republicans who warn about GDP and Debt are 100% right, it is about the necessity of current debt levels and their assignment of blame that is wrong!

Everett Said:

Tax Questions?

We Answered:

Normally they are not. In a very few circumstances related to business they can be for the taxpayer that is paying them. If a business is paying the premiums as an employee benefit they surely would be deductible.

Dwayne Said:

What do you think about this?

We Answered:

To put this complicated issue simply

You need to call a lawyer... and ask what your rights are as a citizen.

You need to ask them how an issue like this can be fixed, how to transfer over to another insurance company.

You need to ask what other avenues you can take to take care of your father, they are there but they are hidden. Such as different doctors ' which are different doctors fees' or ' generic branded medicatons '

There are ways. Talk to a lawyer, or call your local hospital and have them transfer you to a insurance specialist which can go over what your rights are and hopefully take care of you.

There are options, don't worry. I would call your hospital first, and talk to someone there.

I called to " Apply for health Insurance " they went over all of my medical stuff and printed out a list of the different companies how much they were a month, what the co pays were and all of that. Its now based also on income.

If your father does not make a substancial income... then they will give you a cheaper (sometimes free) option for health insurance

here in massachusetts it is called " commonwealth care" and you need to qualify for it. So have them pre qualify your dad...

When I lost my job i had zero income. I was qualified for FREE health insurance. free dental and free eye care. while I was searching for a job. the more money he makes, the more the insurance will cost.

So talk to somone in the health insurance section of the hospital and explain the situation your father is in and ask them for other avenues to take to protect your father...like pre qualifying him for another form of healthcare.

they are there

good luck

Alex Said:

Non-Americans only: What's the real scoop on Universal Health Care?

We Answered:

Australia
Public Health paid via annual tax claim (AUD750 this year on 6 figure salary) and option to obtain Private Health covering Ambulance, Hospital, etc. Individuals/Families pick and chose level of cover is Optional and encouraged via tax rebates. Option to go either Public or Private (Pay or claim via Private Health) with the same Doctors operating out of both Public and Private Hospitals. Preventative Healthcare is high due to no cost checkups, and Government rebated medicine that are expensive ie: Diabetic tablets, etc.
Rate the following on a scale of 1-5 with 1 being abysmal, and 5 being pretty near perfect:
A) Quality of care: 5
B) Wait time: 5 for emergencies/private and 3 for public non-emergency
C) Value of the system as a function of actual fee/taxes paid vs benefits received: 5
And the most important question: hypothetically would you do away with your system and swap it with ours? NO too much invested in National health infrastructure like hospitals and flying doctors for remote areas to go backwards to a privatised system. Preventative health care reduces the burden on hospitals and doctors treating severe illnesses but is not encouraged in a privatised system. I have personal family friends back in Steamboat USA that returned to Australia to have their child and remained to obtain heart surgery operations for him before returning the the USA. Its great to claim to have the best health services but if they are not accessible or affordable it is kind of useless (a golden egg).

Roger Said:

can you please answer these questions if they are true or false?

We Answered:

Better get busy on your homework assignment, I doubt if anyone will do your work for you...

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