How to navigate health care tax breaks

As health insurance professionals, you are most likely well aware of your ability to write off certain qualified health care expenses during tax time. Remember though — not all of your consumers are meticulous itemizers like you. Fortify your customer service approach by informing consumers about their health care cost deduction options. You may have all of the details about this intricate topic committed to memory, but just as a refresher, let’s talk about it.  

While most Americans are aware that they can deduct things like charitable giving and mortgage interest, many are unaware of the health care costs deduction. A study done in 2012 by GoHealthInsurance.com found that 81 percent of those surveyed had paid out-of-pocket for medical care, but only 34 percent had plans to deduct those costs. The rules about deducting health care costs can be a little confusing, so let’s go over the current state of affairs.