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Tax Deduction Consulting: Supplemental Medicare Insurance Hockessin DE

There are up to 12 different plans offered. They are called A through L, and each offers a different set of benefits and exclusions. This gives the individual quite a few options to structure the supplemental plan to match their own personal needs. It is necessary that the person is enrolled in both Medicare A and Medicare B plans. The idea is to supplement and not replace Medicare.

Keith Al-Chokhachy, Certified Financial Planner(tm)
2751 Centerville Road
Wilmington, DE
Company
Title: Certified Financial Planner"
Company: Morgan Stanley Smith Barney
Years Experience
Years Experience: 8
Service
Captive Insurance,Life Settlements,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rol

Data Provided by:
Joan L. Sharp (RFC®), CFP, CHFC, MSFS
(302) 324-5363
42 Reads Way
New Castle, DE
Company
Life Strategies, LLC
Qualifications
Education: BAMSFS
Years of Experience: 8
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Retirement Planning, Tax Planning, Charitable Planning, Asset Protection, Compensation Plans

Data Provided by:
Brian K. Lureen (RFC®), CHFC, CLU
(610) 889-2066
5 Great Valley Pkwy Ste 334
Malvern, PA
Company
Heritage Advisory Services, Inc.
Qualifications
Education: BS
Years of Experience: 21
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
Globe Income Tax Service
(302) 998-2256
2116 Kirkwood Hwy
Wilmington, DE
 
Eller Tax Service
(302) 656-4787
2303 Lancaster Ave
Wilmington, DE
 
Bill Curry
1521 Concord Pike
Wilmington, DE
Company
Company: Curry Poole Group, LLC
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
BS
MBA
JD
Years Experience
Years Experience: 42
Service
Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Portfolio Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Man

Data Provided by:
Frank M. Levy (RFC®), CHFC, CLU
(302) 765-3500
205 Philadelphia Pike
Wilmington, DE
Company
Diversified Financial Consultants
Qualifications
Years of Experience: 34
Membership
IARFC, MDRT
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
H&R Block
(302) 999-8100
2407 KIRKWOOD HWY
WILMINGTON, DE

Data Provided by:
H&R Block
(302) 656-7212
106 S UNION ST
WILMINGTON, DE

Data Provided by:
Eller Michael Income Tax Service
(302) 652-5916
724 N Union St
Wilmington, DE
 
Data Provided by:

Tax Deduction Consulting: Supplemental Medicare Insurance

Supplemental Medicare Insurance Tax Deductions

Supplemental Medicare Insurance has become increasingly popular as medical costs continue to rise. The fact that Supplemental Medicare Insurance is deductible helps a lot.

Supplemental Medicare Insurance Tax Deductions

Supplemental Medicare Insurance is part of a program called Medigap Insurance. Its intention is to supplement the gaps in the coverage of Medicare A and Medicare B coverage. Although these programs are offered by various insurance companies, they are all regulated by Federal and State laws. These laws dictate that all of the provisions of the various types of plans are the same from policy to policy.

There are up to 12 different plans offered. They are called A through L, and each offers a different set of benefits and exclusions. This gives the individual quite a few options to structure the supplemental plan to match their own personal needs. It is necessary that the person is enrolled in both Medicare A and Medicare B plans. The idea is to supplement and not replace Medicare.

The premiums paid for the Supplement Medicare Insurance is deductible as a Medical expense subject to the normal restrictions on these deductions. Medical deductions are allowable as itemized deductions only to the degree that they exceed 7.5% of your adjusted gross income. Although this figure is often difficult to meet for young and healthy tax payers, it is a fact that medical costs tend to increase with age. Since taxpayers are not eligible for Medicare until they reach retirement age, it is more likely that their medical expenses will exceed 7.5%.

Another important point concerning Supplemental Medicare Insurance is that they are not family plans. Your policy will not cover the medical costs for a spouse. Each spouse must have their own separate policy. The premiums, however, can be combined on joint returns as they represent a medical expense. Remember the rule for married taxpayers filing separately. If o...

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