Jim's employer pays half of the premiums on a group medical insurance plan covering all employees, and employees pay the other half.Jim can exclude the half of the premium paid by his employer from his gross income and may include the half he pays in determining his medical expense deduction.

Question

Quizplus · Accepted Answer

This statement is true according to IRS regulations. Jim can exclude the portion paid by his employer and deduct the portion he pays as a medical expense deduction.

Jim's Employer Pays Half of the Premiums on a Group