Hypothetical Individual Tax Return.
Amount Spent Out-of-Pocket | |||
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Adjusted Gross Income | $25,000 | ||
Medical Expenses | $ 4,000 | $ 4.000 | |
Medicine and Drugs | $ 450 | −250 | deductible |
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Self-Paid Insurance Premiums | $ 350 | $ 3,750 | |
Employer-Paid Insurance Premiums | $ 250 | × .25 | |
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Deductible on Insurance Policy | $ 250 | = $937.50 | |
Coinsurance Rate | 25% | + 250.00 | deduction |
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$ 1,187.50 |