Health Insurance

[danaf]

I was reading the sticky on expenses and someone had posted that only health insurance $ that is NOT deducted from your paycheck is an allowable expense.

That doesn't make sense to me. Maybe that poster meant for the schedules?

[SinkingFast]

Our health/dental/vision premiums were deducted out and then we got to take "out of pocket" expenses as well. On Schedule J, our attny transferred in our Net income, which includes our health insurance premiums deductions. And then on Line 7, our out of pocket expenses were also deducted.

We were under the Median Filers so we didn't get that far on the Means Test. But other cases I've looked at, health insurance premiums were deducted on the Means Test as well. Line 34 is for Health Insurance, Disability Insurance, and Health Savings Acct contributions.

So, it would seem that health insurance premiums and out of pocket health care expenses are both allowed.

[HHM]

You mind pointing us to the posts that says that so we can fix it.

[freshstart06]

We got that far on the means test and yes, out of pocket medical expense and medical expense from payroll is allowed. LOL, in my case if it wasn't we would be screwed. Alot of our expense outside of taxes is Medical.

[danaf]

it is here http://www.bkforum.com/showthread.php?t=2687 by guest42. I think I misunderstood because it said - 'if not deducted from paycheck'. So I took that to mean that if health insurance was deducted from paycheck then it would not be considered an expense.

[SinkingFast]

Many people pay their health care insurance premiums, direct, to their employers via payroll deduction from pre tax dollars.

In the list Quest posted, he/she's saying to list health care insurance premiums as an expense IF not already deducted from your paycheck by your employer. IF you're paying that expense, out of pocket, with after tax $$$'s from you Net, then health care insurance premiums are an expense to be listed on Schedule J.