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Posted by Rhickey on March 4, 2008, 10:30 pm
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Is there any cancer insurance that is deductible as a medical expense?
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Posted by ed on March 5, 2008, 1:33 pm
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> Is there any cancer insurance that is deductible as a medical expense?
>
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> << ------------------------------------------------------- >>
> << The foregoing was not intended or written to be used, >>
> << nor can it used, for the purpose of avoiding penalties >>
> << that may be imposed upon the taxpayer. >>
> << >>
> << The Charter and the Guidelines for submitting posts >>
> << to this newsgroup as well as our anti-spamming policy >>
> << are atwww.asktax.org. >>
> << Copyright (2007) - All rights reserved. >>
> << ------------------------------------------------------- >>
Any health insurance is deductible.
ed
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<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
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Posted by mmurrell on March 5, 2008, 2:20 pm
Please log in for more thread options > Is there any cancer insurance that is deductible as a medical expense?
>
> --
> << ------------------------------------------------------- >>
> << The foregoing was not intended or written to be used, >>
> << nor can it used, for the purpose of avoiding penalties >>
> << that may be imposed upon the taxpayer. >>
> << >>
> << The Charter and the Guidelines for submitting posts >>
> << to this newsgroup as well as our anti-spamming policy >>
> << are atwww.asktax.org. >>
> << Copyright (2007) - All rights reserved. >>
> << ------------------------------------------------------- >>
If the premium is paying for medical care from complications of
cancer, the premium is a medical expense. If the premium is paying a
death benefit in case the purchaser dies from cancer, the policy is
not deductible.
========================================= MODERATOR'S COMMENT:
Please eliminate all unnecessary parts of the post to which you are
responding.
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Harlan Lunsford on March 5, 2008, 5:00 pm
Please log in for more thread options Rhickey wrote:
> Is there any cancer insurance that is deductible as a medical expense?
>
Since I am "way down in Columbus, Georgia", I have to put in a plug for
de duck. (Quack!)
Seriously, AFLAC, whose commercials you've surely seen on tv, is
headquarterd here and said cancer insurance does qualify for tax deduction.
However their disability policies may or may not, depending on whether
or not pre tax.
ChEAr$,
Harlan Lunsford, EA n LA
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Phil Marti on March 5, 2008, 5:54 pm
Please log in for more thread options "Harlan Lunsford" wrote:
>> Is there any cancer insurance that is deductible as a medical expense?
> Since I am "way down in Columbus, Georgia", I have to put in a plug for
> de duck. (Quack!)
>
> Seriously, AFLAC, whose commercials you've surely seen on tv, is
> headquarterd here and said cancer insurance does qualify for tax
> deduction.
I've never looked closely at any such policies for the reason that I
couldn't see the point. It seems to me they're either health insurance,
life insurance, or disability insurance with a special restriction.
If indeed there's a policy that pays off like a slot machine if you are
diagnosed with cancer, I can't see that the premiums would be deductible.
Same for death and disability. Only if it just covers medical expenses
would I see it as a medical expense.
--
Phil Marti
Clarksburg, MD
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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