I received a "Retiree Medical Allowance" balance from my employer approx. 8 years ago (they actually did away with medical coverage for future retirees). All of this money is administered by a company called Beneflex.
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I can use this money to purchase a monthly "premium" insurance policy or a Cobra policy. I am required to send a receipt to Beneflex. I am then reimbursed out of that account for the premium payments I made.
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My question is this: Can I count the monthly premiums as a medical expense on my 2014 taxes?
Thank You for your guidance.
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I can use this money to purchase a monthly "premium" insurance policy or a Cobra policy. I am required to send a receipt to Beneflex. I am then reimbursed out of that account for the premium payments I made.
~
My question is this: Can I count the monthly premiums as a medical expense on my 2014 taxes?
Thank You for your guidance.