The IRS Deductions Blog

Posts Tagged ‘cost’

Question: in terms of insurance, what exactly is the annual deductible?

The insurance site i’m looking at defines it as this:
A specific dollar amount that your health insurance company may require that you pay out-of-pocket each year before your health insurance plan begins to make payments for claims. Not all health insurance plans require a deductible.

Does that mean that I have to pay the full amount of the deductible before i can go to the doctor?

Answer: ~~Not necessarily, you have to read the fine print to know for sure. Usually the annual deductible applies to testing, lab, medications, and in-patient care. Usually there is just a copay for actual doctor visits.

However, each policy is different. So read the fine print, or call and speak with the customer service rep and have them answer all your questions.~~

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Americans slow spending on health care

A decades-long boom in spending on doctors, hospitals and drugs slowed in 2008 to its lowest level, even as health care costs accounted for a greater share of the nation’s economy, the federal government said in a report released Tuesday.

Rep. Wasserman Schultz discusses the need for health insurance reform on CNBC with Rep. Mike Pence

Question: 20% coinsurance with 0$ deductible and $35 copay?

For about 175 a month, i can get an AETNA plan with a $0 deductible and 20% coinsurance and $35 copay. the $35 copay is a little more steep than i would like, but $0 deductible….cant beat that! what do you think? is the coinsurance important to consider? i’m new to insurance and dont know what i should be looking for. We have a baby on the way also in June. but we cant price his insurance til after hes born.

Answer: I’d look into what they’re charging for ER, hospital visits and materinity/well baby appointments.

Twenty percent is can be terribly high for those types of things listed above.

Items on Amazon Right Now for Copay Coinsurance Deductible:

David Bruner, the Tax Man: Medical expenses — the basics

If you are able to itemize, one of the largest deductions you could have is the medical expense dedu

Clearwave Patient Check In Kiosk Verifies Insurance Eligibility in Real-Time

Getting proper auto insurance for a rental car is a process full of uncertainty and more than a little confusion. Should I get insurance from the rental company? Am I covered if I use my credit card to rent the car? Does my auto insurance policy cover rented vehicles? All of these are questions that come to mind when thinking about obtaining auto insurance for a rental car.

The first step you should take before renting a car is to check on your existing auto insurance coverage and with your credit card companies to find out what type of rental auto insurance you already have in place. This can be done before you ever rent a car so you enter the process with some background knowledge.

If you are renting a car for pleasure and not business, most likely the coverage and deductibles you have with auto insurance on your car will apply to the rental. If you have comprehensive auto insurance your rental car will have the highest level of coverage, but if you have dropped comprehensive or collision auto insurance on your car remember the rental won’t be covered in case of theft or an accident. Also check with your auto insurance provider for any riders it might offer that might be less expensive than buying auto insurance through the rental company.

Rental car insurance offered by your credit card is going to vary widely depending on the type of card, the issuer and even the bank that provides your credit card. Typically any coverage provided by your credit card will involve damage or loss to the rental, but will exclude your personal belongings, personal liability, other cars and other’s property. You should check with each credit card you carry to find out which one offers the most secondary coverage for rental car insurance.

Once you rent a car and you know where you are covered through your personal auto insurance and credit cards, you will have the option to add coverage through the car rental service. These options include: loss damage waiver, liability insurance, personal accident insurance, and personal effects insurance.

Items on Amazon Right Now for Auto Liability Deductible:

Toyota Pedal Maker CTS in Spotlight as Recalls Widen (Update3)

Feb. 1 (Bloomberg) — CTS Corp. was honored three times by Toyota Motor Corp. for the quality of the accelerator pedals that have thrust the 114-year-old electronics supplier into the center of a global recall of as many as 4.2 million vehicles.

Car Insurance : Types of Car Insurance Liability

Question: In the cash flow statement where would I reflect property tax?

If i am in construction business and i purchase a land – i will treat that land as my raw material right ? Now if i want to prepare a project report, wherein i need to make a business plan on a property purchased then —-

First of all i wanted to know property tax on that land is deductible ?

Secondly, if i prepare cash flow statement where should i reflect the property tax ? Operating activities, Investing activities or financing activities ?

Answer: under expenses or credits under taxes!

Items on Amazon Right Now for Tax Deductible Statement:

DVD Review: ‘The Hip Hop Project’

Chris ‘Kazi’ Rolle was born in the Bahamas where he was abandoned soon after birth by his mother who decided to start over on her own and set out for America. Understandably, Kazi grew up with a hole in his soul, and headed for New York City at the age of 14 to track her down.

Chairman of the Senate Foreign Relations Committee J. William Fulbright on Senator John F. Kennedy

Question: Does anybody have Affordable Health Care benefits for individuals and the entire family?

Are you or your family looking for affordable Premier Health Care Savings Plan with up to $2,000 Accident Coverage with only $100 Deductible(on or off the job at school or at play)You can go to any hospital emeigency room or doctor 24 hours a day, 7 days a week with no limit to the numbers of accidents. For more information call (414)763-9545 ask for Kiesha Cherry.And I will tell you more about the plan and what else comes with this Low-Cost savings plan.This paln is not Health Insurance because you can still have Insurance and then have the savings plan alongs with it.All you have to do is 3 easy steps just call me, then select 1 of the Plans.-Premier Savings Plan $52/mos&1time registration fee of $97 for a total of $149 for everyone you would like to include in the plan or the family and friend plan of $29/&$94 one time registration fee.Please feel free to call me and learn more about the plan.Thank You.

Answer: All this plan is doing for you is reducing the fees that are charged. Your health plan does this if it is a PPO plan already (and the fees are a part of the premium) or, you can easily do this on your own behalf. It’s stuff like this that makes the health agents that truly want to get you good benefits look bad. Buy a high deductible bare bones major medical plan before buying this. At least you will get something besides a reduced fee for your premium dollar!

Items on Amazon Right Now for Low Cost Low Deductible Health Insurance:

2009: Our year in review

It was a year of economic pain for Hancock and surrounding counties. But in the midst of that pain, there were signs of progress.

Low Cost Health Insurance Plans