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Individual healthcare purchases (not insurance) can be deducted from your taxes, either explicitly if you're filing a long form, or implicitly if you're claimin
by greedo 14y ago
Individual healthcare purchases (not insurance) can be deducted from your taxes, either explicitly if you're filing a long form, or implicitly if you're claiming the standard deduction.
I don't see why it would be a huge burden to make individual health insurance tax deductible.
- humanrebar 14y agoOnly healthcare expenses over 7.5% of adjusted gross income are tax deductible. Plus, the poor and lower-middle class don't tend to much in income taxes (if any), so they wouldn't qualify for the discount. In contrast, corporations always write off employee healthcare premiums on their taxes. The issue isn't just the fairness of who pay taxes when, it's also about the distortions in healthcare markets caused by these policies.