NLIC.org

Cathy Said:

How can I used pretax money to pay for personal medical insurance premiums?

We Answered:

healthplans.bebto.com - here is my health insurance plan. As I remember they can provide such a service.

Ruth Said:

How do we get insurance companies to reduce medical insurance premiums to employers?

We Answered:

As an insurance agent and previous benefits coordinator, I cannot agree more with your concern. The cost of medical premiums are at an all time high. Even worse though, is individual coverage. Insurance companies, like BlueCross, have the right to exclude a pre-existing medical condition (rider) of an applicant. I cannot tell you how many times a day I hear people say, "if they aren't going to cover my medical issue, what's the point of having insurance?!". I fear it's only a matter of time before insurance companies can place the same riders on employees covered under group plans. I don't have an answer to your question that is realistic, but I definitely agree it's time something is done to regulate the costs and coverages. The only conclusion that I have been able to come up with is social care, like Canada, but I don't think we will see that anytime soon in the US - especially since, in my state, they are already reducing benefits and raising premiums given to low income children and to those who are unable to get coverage (decline due to serious medical conditions). I think the only thing we can do is to start pleading with our state governments to get involved. Insurance is regulated by each state individually, so you can image the multiple mountains set before us.

Randy Said:

Lets say medical insurance premiums across the nation have been skyrocketing?

We Answered:

let the goverment in on the system. The malpractice insurance award should have an award limit.

Bernice Said:

Can we deduct the medical insurance monthly premiums in our medical expenses during taxes ?

We Answered:

Yes, but only in excess of 7.5% of your AGI.

Unless you have other expenses your standard deduction will be higher.

Peggy Said:

Can a Self directed IRA that has invested in a LLC pay the medical Insurance premiums for the LLC members?

We Answered:

No.

Tanya Said:

Can you claim medical insurance premiums if there deducted before your taxed on your pay?

We Answered:

No! You already got a 100% deduction for them by paying them with pre-tax dollars. If you claimed them on your return, it's time to file an amended return on Form 1040X and pay the extra taxes and interest due. It probably won't be a lot if you get the amended return in quickly, but it's adding up a little bit each day that you delay.

Marjorie Said:

Should medical insurance premiums be determined by weight?

We Answered:

No. There are several actual medical conditions that can lead to gaining an excess amount of weight. Not every one just has a weight problem (cant wait to eat, lol) that can be simply explained away .