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	<title>New answer on: Does Health Insurance Affect Your Tax Return?</title>

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		<title>By: Todd Officer</title>

		<link>https://www.insurancelibrary.com/health-insurance/does-health-insurance-affect-your-tax-return</link>

		<dc:creator>Todd Officer</dc:creator>

		<pubDate>Wed, 01 May 2013 20:46:15 +0000</pubDate>

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		<description><![CDATA[First, let me say I am not an accountant or tax expert at all.  This questions would be best answered by a Certified Public Account or other tax pro. 

I can only speak to my personal situation.  For years we didn&#039;t have a group plan through my company and I had individual/family coverage that I paid for out of pocket.  I also have family members who have some health issues that included specialists, a lot of RX drugs, etc.  Simply due to the cost of the health coverage, we had to go with a high deductible health plan as well.

So, over the course of a year we would have our health premiums, high deductibles, plus a bunch of specialist costs that were not even covered by our insurance.  This generated a ton of dollars that came out of my pocket personally.  There is a threshold for medical expences (I don&#039;t remember what it is) where anything over an above that figure is deductible on your tax return.  I have been well over that figure every year for the last 5 or 6, so I have been able to deduct a good amount of my out of pocket expence.

This is just my personal situation and again, I am not a tax professional of any sort.  All this was done on the advice of my personal accountant.  I would highly recomend you contact a tax professional and discuss your individual situation with them.]]></description>

		

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