Do you have to claim money that medicare paid to your doctor as income?
I was told this the other day and I just don't believe it. If medicare paid your doctor, that amount has to be included in your income tax preparation?
Public Comments
- No way. But call your county's job & family svcs if you want to make absolutely sure.
- no it doesn't
- No. Medicare is a benefit to you, not income.
- No, somebody is jerking you around. Or is TOTALLY clueless on taxes.
- No. Medicare is a federally funded system of health and hospital insurance for persons aged 65 and older and for disabled persons. An insurance payment made to the doctor on your behalf is income to the doctor, not to you. The Medicare program provides basic health care benefits to recipients of Social Security and is funded through the Social Security Trust Fund. Medicare is divided into a hospital insurance program and a supplementary medical insurance program. The Medicare hospital insurance plan is funded through Social Security payroll taxes. Medicare's supplementary medical insurance program is financed by monthly insurance premiums paid by people who sign up for coverage, combined with money contributed by the federal government. You have nothing to report as a result of medicare payments. This was insurance that you're paying for through your SS and medicare taxes.
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