Question

skyler is covered by his company's health insurance plan. the health insurance costs his company $9,500 a year. during the year, skyler is diagnosed with a serious illness and health insurance pays $100,000 for surgery and treatment. how much of the insurance and treatment payments are taxable to skyler?

Answer 1

Answer:0

Explanation:Many taxpayers are covered by accident and health insurance plans. These plans pay for the cost of medical care of the taxpayer and any dependents who are insured under the plan. The taxpayer may pay the total premiums of the plan, or his or her employer may pay part or all of the premiums. Taxpayers are allowed liberal exclusions for payments received from these accident and health plans.