'Taxes & Tax Credits' Category Archives

New Coverage Options for 2019: Short-Term Plans are Back

Published by . Filed under Affordable Care Act, Open Enrollment, Taxes & Tax Credits. Total of no comments in the discussion.

An important insurance change for those under 65: short-term insurance plans are back! Federal lawmakers ruled to allow people to buy short-term, limited-duration health coverage that lasts up to 12 months and can be renewed for an additional, maximum of 36 months. Previously, the Affordable Care Act limited these plans to a maximum of three […]


What Would Happen if Premium Tax Credits Went Away in Wisconsin?

Published by . Filed under Affordable Care Act, Taxes & Tax Credits. Total of no comments in the discussion.

Just recently, the US Supreme Court voted to uphold Obamacare subsidies. What exactly does this mean? First, we need to define subsidies. Premium tax subsidies and advanced premium tax credits are both the same thing, and they refer to the income-based discount on Obamacare health insurance. This is the advanced discount to help pay your […]


Can I Deduct My Health Insurance Premium?

Published by . Filed under Medicare, Medicare Advantage, Taxes & Tax Credits. Total of 2 comments in the discussion.

Some individual taxpayers are able to claim an itemized deduction for their qualified medical expenses, including medical insurance plans premiums. In order to qualify, the qualified expenses must surpass 10% of an individual’s yearly-adjusted gross income. This percentage lowers to 7.5% if you or your spouse reached the age of 65 or older as of […]