What part of Medicare payments are tax deductible?

Answer Money paid to Medicare is in some cases tax deductible. Factors that affect deductibility include age, Social Security benefits and Medicare premium type. Taking deductions can ensure that you don'... Read More »

Top Q&A For: What part of Medicare payments are tax deductible

Are Medicare Part B payments deductible?

According to the Internal Revenue Services of the United States Department of Treasury, Publication 554 on deductions, any medical expenses over 7.5 percent of your adjusted gross income is tax ded... Read More »

What is the medicare part b year deductible?

While Part A of Medicare, which provides hospital service, is free to most folks who have worked 10 or more years in the U.S., Part B has more costs associated with it. The deductible is one cost y... Read More »

What is the Medicare Part A deductible for 2012?

The Medicare Part A Deductible for 2012 is $1,156 for the first 60 days. $289 per day co-payment from days 61-90 days. $578 per day co-payment from 91-150 days.

Is Medicare Part B deductible?

Medical and dental expenses, including health insurance premiums, are tax deductible. As long as you itemize your deductions, instead of taking a standard deduction, then you can claim health insur... Read More »