Is Health Insurance Before Taxes?

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   Fred Adams

   The HSA Expert, Health Revival, Athens, GA

   If you purchase your coverage through an employer, you may have the option to utilize a 125 plan to have pre-tax dollars withheld from your pay check to pay your premiums. However, for the vast majority of individuals purchasing their own coverage, insurance premiums are paid for with taxable dollars. One exception to this rule is anyone that is self employed, who is allowed to write off the cost of their health insurance on their tax return. However, even in such a case, the self employed individual must still FICA/self-employment taxes on these funds.

   Answered on April 30, 2014

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