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Pierre is covered by his employers group major medical plan. His employer pays for 75% of the premium and he pays for 25%. How much would a $10000 benefit be taxable as income under this plan

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  1. 19 May, 22:51
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    For $10000 benefit, the taxable income is $0

    Step-by-step explanation:

    The money or the benefits that fall under the medical plan are not considered to be tax payable. Infact, the amount of money that comes under major medical expense is considered to be a repayment which is to be paid for a loss or money spent.

    Hence, the benefit earned through major medical expenses is non-taxable.

    Now, Pierre is covered by his employers major medical plans so all the benefit which will be earned is non-taxable.

    Therefore, for $10000 benefit, the taxable income is $0

    Hence, Pierre would not have to pay any tax for $10000 benefit
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