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Tax Deduction Consulting: Supplemental Medicare Insurance Wasilla AK

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.

Liberty Tax Service
(866) 871-1040
11409 Business Blvd # 1201
Eagle River, AK

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H&R Block
(907) 222-2637
1120 HUFFMAN rdSTE 23
ANCHORAGE, AK

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H&R Block
(907) 561-5113
3555 ARTIC blvd C1 & C2
ANCHORAGE, AK

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H&R Block
(907) 646-9864
3101 PENLAND PARK STE H-2
ANCHORAGE, AK

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WRConkey's Accounting Service
(907) 717-5233
200 W 34th # 852
Anchorage, AK
Prices and/or Promotions
Fixed

Mr. Micah Vincent Shilanski (RFC®), CFP, CSA
(907) 278-1351
431 W. 7th Avenue Suite 100
Anchorage, AK
Company
Shilanski & Associates, Inc.
Qualifications
Years of Experience: 9
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, Collectable Coins , Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Education Plan, Healthcare Accounts, BuySell

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Hutton & Hauber Tax & Accounting Services Inc
(907) 789-3091
9340 Glacier Hwy
Juneau, AK
 
Liberty Tax Service
(866) 871-1040
2207 E Tudor Rd # 35
Anchorage, AK

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IvxsdvyZVW, AK
Prices and/or Promotions
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Liberty Tax Service
(866) 871-1040
11409 Business Blvd # 1201
Eagle River, AK

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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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