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Yes is the short answer but there are some guide lines to be followed.
How Much of the Expenses Can You Deduct?You can deduct on Schedule A (Form 1040) only the amount of your medical and dental expenses that is more than 7.5% of your AGI(Form 1040, line 38).
In this publication, the term "7.5% limit" is used to refer to 7.5% of your AGI. The phrase "subject to the 7.5% limit" is also used. This phrase means that you must subtract 7.5% (.075) of your AGI from your medical expenses to figure your medical expense deduction.
Wiki User
∙ 13y ago
Wiki User
∙ 14y agoYes, if you paid it and it meets the other IRS eligibility rules.
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What is the deductible for part A Medicare?
$1,132.00
What is medicare deductible for 2012 part a?
1156.00
Is there a deductible for Medicare part A services?
Yes.
What is deductible for Medicare part B in 2010?
$155
What is medicare part b deductible for 2013?
The Medicare Part B deductible in 2013 is $147,a $5 increase from 2012. Medicare beneficiaries pay the Medicare Part B deductible for services including doctor visits, lab tests, surgeon’s fees, ambulance rides, and speech therapy. Medigap Plan C and Plan F policy holders do not have to pay this deductible.
Is there a premium for Medicare part b?
yes
Why is my part time employer deducting Medicare and I pay for Medicare from my retirement check?
Your part time employer is deducting the mandatory employee portion of the Medicare Tax from your paycheck. All employees are required to pay this tax at all times they work to fund the Medicare system.You pay your Medicare Part B insurance premiumautomatically from your Social Security check. This allows you to make claims on Medicare Part B (e.g. doctors' services, preventive care, durable medical equipment, hospital outpatient services, laboratory tests, x-rays, mental health care).Medicare Part A (hospitalization) is "original Medicare" and is free if you have previously paid Medicare Tax from your paychecks.Medicare Part B (outpatient treatments) has a $134 a month premium.Medicare Part C (Medicare Advantage: includes parts A, B, D and sometimes other coverage that regular Medicare would not cover) is operated by health insurance companies contracting with Medicare, you continue to pay the part B premium from your Social Security check plus you pay a premium to the health insurance company that varies depending on the plan you selected.Medicare Part D (prescription drugs) is operated by health insurance companies contracting with Medicare, you continue to pay the part B premium from your Social Security check plus you pay a premium to the health insurance company that varies depending on the plan you selected.
Health Insurance Plans: Cost Basics?
Health insurance plans have three main components: the premium, the deductible and the co-insurance. The premium is the money that you pay each month to be covered by the health plan. This is the only part of the plan that is paid whether you use your insurance or not. The deductible is the amount of money you have to pay out of pocket each year, before your insurance company will begin picking up part of the bill. The co-insurance is the portion of the bill that you are required to cover after the deductible has been reached. These companies together make up your actual cost of health insurance.
What was Medicare deduction for 2008?
If you're asking about the monthly deduction for your Medicare Part B, it is $96.40 if you make less than $85,000.00 per year. If you're asking about the deductibles: The Medicare Part A deductible for 2008 was $1024.00 for days 1-60 of hospitalization. That amount will increase to $1068.00 for 2009. The Medicare Part B deductible for 2009 is the same as 2008 at $135.00.
Is medicare part b deduction rising to 285.60 in 2011?
the deductible is 162.00 in 2011
What is medicare part B deductable for 2011?
The deductible for 2011 is $162.00. Then you have an ongoing coinsurance of 20% of the Medicare approved rate.
What was the first medicare part b premium amount?
$20.00
