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Politics : A US National Health Care System? -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (4271)	2/5/2008 10:36:10 AM
From: Peter Dierks	Read Replies (1) \| Respond to of 42652

All families covered by a private family health insurance policy, whether purchased on their own or through their employer, will pay no income or payroll taxes on their first $15,000 of compensation. All individuals covered by any single private health insurance policy will pay no income or payroll taxes on their first $7,500 of compensation. > At the same time, health insurance would be considered taxable income. This is a change for those who now have health insurance through their jobs. "what happens to individual tax deductions for insurance"? It does not specify if this exclusion would apply to unearned income or only earned income. As you say, the devil is in the details.

To: Lane3 who wrote (4271)	2/5/2008 1:03:50 PM
From: Joe NYC	Read Replies (1) \| Respond to of 42652

Lane, Having this weekend done my taxes and deducted my various medical insurance policies, I'm not sure what becomes of that. The way it works now is that the employer deducts your portion of medical insurance from income, and it looks like you never made that money. So it is not taxed. I am not sure what else you deducted. Another possible deduction is for actual medical expenses, if they exceed certain percentage of your income (but these are expenses, not medical insurance payments). Joe