Is the cost of private medical insurance (such as BUPA) tax deductable?
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September 8th, 2010 at 6:59 pm
No
September 8th, 2010 at 7:38 pm
Medical Expenses are deductible. The definition of medical expenses per the IRS website. “Medical expenses include insurance premiums paid for accident and health or qualified long-term care insurance. You may not deduct insurance premiums for life insurance, for policies providing for loss of wages because of illness or injury, or policies that pay you a guaranteed amount each week for a sickness.”
Hope this helps…
September 8th, 2010 at 8:25 pm
You metion BUPA so you are very obviously in the UK, I don’t know how the person above mentioned IRS rules!
My employer pays for my medical insurance. I am actually taxed on this as a benefit in kind. So no it is not tax deductable, it is a personal expense as much as food and clothing.
September 8th, 2010 at 8:46 pm
Only if having it is a condition of employment but generally no
September 8th, 2010 at 8:52 pm
NOPE I THINK NOT..