Americans who are 65 and older automatically qualify for basic Medicare insurance, but they may need to pay additional premiums to get the coverage they desire. Premiums can be expensive, especially if you’re married and both you and your spouse are paying them. However, if you qualify, they may help lower your tax bill.
Premium tax deductions
You can combine premiums with other qualifying health care amounts to claim an itemized deduction for medical expenses on your individual tax return. This includes rates for Medigap insurance and Medicare Advantage plans. People buy Medigap policies because Read More