The IRS Deductions Blog

Archive for October, 2009

Question: Lowest possible Deductible For Health Insurance wanted. Premium may be high?

My job will reimburse me for up to 480 bucks a month for health insurance. They do not provide group coverage, just reimbursement to find my own. The problem I am finding is there is no coverage for me until I reach my deductible. I am wondering if there is any health insurance that offers coverage with a deductible until $1,000? I want to go to the doc, but I know whether I have insurance or not, i’m gonna be paying in full, until I make it to the deductible.

Answer: Try this site

http://heinsurance.notlong.com

here you can get quotes from different companies so you can compare them.

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New year brings insurance boost for mental health care

New year brings insurance boost for mental health care

Health Insurance Policy Terms

Question: buying health care insurance?

I just started a new job and my coverage will start after the fourth month, in the men time I have to go to the doctor. I don’t feel well at all, I have a hedache, my throught started to hurt a couple weeks ago, I feel pressure in my head. and I have this noise in my ear for more than a year now. I applied for health coverage from the county but because of my wage I’m not eligible. now I probably have a long term disease, and my situation is getting worst. which kind of insurace should I get, with a Low Deductible, and when byuing insurance what should I look for. any advice on my situation, do you know where I can seek for help

Answer: Go to a free clinic or apply for charity care at your local hospital. When you insurance becomes effective you will probably be subject to pre existing conditions for issues that you may have now, but better to be safe than sorry. You can also apply for individual coverage, if it is offered in your state. Call a local agent to find out which carriers offer individual coverage.

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Businesses say change is a must in health care

There is one thing Hutchinson and Reno County businesses, large and small, seem to agree on in ter …

Long-Term Care Insurance Savings and Discounts from www.AALTCI.org

Online car insurance calculator is devised by insurance companies to help people calculate the amount they may have to pay on a regular basis when they buy an insurance policy. The car insurance calculator service is offered by several insurance websites such as carinsurance.com.

You can use a car insurance calculator to:

Working of a Car Insurance Calculator

A car insurance calculator (ref: http://www.economywatch.com/insurance/auto/car-insurance-calculator.html ) uses personal information to calculate a rough estimate of what an insurance policy might cost to an individual. A calculator needs the following details to calculate the premium:

Place of residence: An individual living in a metro city is more prone to road accidents. Thus, s/he will be charged a higher premium than those who are living in a small town.

Age and Gender: Insurance companies believe that a person becomes more cautious in his driving as he ages. Thus, people aged above a certain limit may be offered discounts. Similarly, companies offer discounts to women drivers as they are perceived to be more cautious drivers than their male counterparts.

Driving record of an insurance seeker: An insurance company also determines the risk factor of an individual from his past driving history. Insurance companies charges higher premiums from individuals with a previous record of accidents and breaking traffic rules. In extreme cases, the companies can also refuse to accept the application of the insurance seeker.

Make and model of the car: These details help insurance companies determine the current market value of the car to be insured. The lower the market value of a car, the lower will be the premium charged.

A car insurance calculator may also prompt you to input miscellaneous information such as the frequency of the drive to calculate the premium.

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Plan your taxes now to save time later

With the new year approaching, it’s time to take a look back.

Question: Do you know that McCain’s Medicare cuts would have “hidden tax” on millions of Americans?

As CAPAF Senior Fellow Peter Harbage points out, this cost shift represents a “hidden tax” on Americans with private insurance. Private payers will pay higher premiums and deductibles in order to make-up for McCain’s radical cuts to public programs and would also finance more expensive emergency room care for individuals who are no longer covered by Medicaid. A 2005 study by Professor Ken Thorpe of Emory University concluded that cost-shifting nationally accounts for 8.5 percent of premiums. Unfortunately, McCain’s proposed cuts to Medicare and Medicaid will only increase the “hidden tax” on millions of Americans.

Answer: Yes. bad McCain!

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Seniors worry about Medicare Advantage cuts

Insurers constantly caution seniors that their Medicare Advantage perks such as hearing aids, dental payments and even gym memberships will fizzle if Democrats get their way and cut government subsidies for them. But tens of billions of Medicare dollars…

Obama Falsely Claims AARP Endorses His Heath Care Plan

Question: Supporting a family member,Tax deductable?

Let’s say, I send $1,000 to my mother every month for her living expenses, and another $500 to support my brother in grad school. Can that be considered a deductible when I file for my taxes?

Answer: No, those are not deductions.

What you MIGHT be able to do is claim your mother as a dependent and take an extra exemption for her. If she earned less than $3,400 and if you provided more than half of her total support you can claim her as a dependent. As your parent she does NOT need to live with you for you to claim the exemption.

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ACC seeks holiday help

‘Tis the season for giving, or so the Arts of Collin County hopes. The ACC is searching the communities for that last bit of support that will get the first shovels in the ground on the project.

Kinship Program of Family Support Services of the Bay Area