In this episode, Dr. Friday emphasizes the benefits of health insurance for the self-employed, noting that premiums are 100% tax-deductible. She also highlights the advantages of Health Savings Accounts (HSAs), which can help lower premiums and offer long-term savings benefits. Listen in to learn how to maximize your tax deductions while staying covered.
Transcript:
G’day I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
Health insurance premium for the self-employed—first, always remember it’s a hundred percent deductible when you want to have health insurance, so it’s a good thing if you’re self-employed. A lot of times, we think we’re invincible, that we’re not going to need health insurance. We need it, and it’s deductible, so why not get it? Also, I’m gonna suggest—I am NOT an insurance agent—but look at the Health Savings Accounts because you can also put aside—even if it turns into an IRA later—you can put aside money into a health savings account and have a lower premium, and that makes it great because many of us, let’s be honest, don’t use our insurance like we should. If you need help, 615-367-0819.
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.