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I just met with my accountant to do my tax returns today. I was curious as to whether any of you had out of pocket medical expenses that exceeded 7.5% of your adjusted gross income, such that you could take the medical expense deduction? In my case it did not, because I have health insurance paid by my employer, and even with my many co-pays, some of which are sizeable (like a $500 co-pay for the annual pouchoscopy), I am not even close. However, I was curious how many of you meet the threshold. I know some of you do not have medical insurance and certainly if I didn't, I am sure I would be getting a deduction.

By the ways my accountant told me if you e-file and have a refund coming, it should take 3-4 days for the State of Connecticut refund and 3-4 weeks for the USA federal government refund (by direct deposit).

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CTbarrister,

We met this a year ago, but my surgeries were OOP at the tune of almost 25K as my surgeon was non-par (and this does not include all my other medical expesnes that year). This year we do not qualify even though I
have paid a lot of out of pocket for various medical tests (i.e .pouchoscopies etc) not covered as my surgeon is non-par. I have since started to see our GI for my pouch scopes and have one scheduled in June. I can no longer justify going to a non-par surgeon for procedures when my covered GI is more than capable of doing, esp when we do not qualify to deduct these expenses.
J
quote:
I also got to use the medical expenses to reduce the amount of money that I had to pay the 10% penalty on 401k withdrawals that I had to take to pay the bills


This is very useful information because one of my lingering fears is that I am going to have to withdraw money from my IRA in order to fund a surgery in the future. I did not know you could apply it against the 10% penalty.
CTBarrister
Between my pouch, and new iron/B12 issues, and my husband's Type 1 Diabetes, I believe we may meet that 7.5% this year. Only because of what we pay for our portion of our insurance policies and the fact that hubby forgot to sign up for his FSA in 2011 for 2012. CTBarrister, thanks for the heads up on the wait time for the returns! Smiler Next year, I will also be deducting gluten free food items, due to the newly diagnosed Celiac Disease. I see the GI on Tuesday to schedule the biopsies, even though all 6 lab tests were positive. In order to deduct the care and specialty diet items for Celiac disease, you have to have the biopsies done...seems silly after the labs to me!
MicheleR
I hope to God I can get back anything I spent on my medical bills. I definitely went broke after my surgery. I don't no when i'll ever get back or at least half back to where I was. There was another post someone put up about eating fruit. Fruit is the best thing ever if you can afford it. Out here cantelope is like two for six bucks thats three bucks a piece outrageous. If our president would look at us and realize it's not our fault we got sick and repay us back what we paid I think it would be a miracle. I don't meen to sound like so greedy but it's just sad where we were before getting sick and where we are after getting sick. Life is tough for a healthy person and for a sick person wow unbelievable. Goodluck guys.
S
Yep, we have qualified for the past four years and it is looking good for our 2013 taxes as well. I have already had one surgery ths year, and it appears the implanted device is malfunctioning, so we are probably looking at another surgery soon. My pouch has been misbehaving, so I am seeing a C/R surgeon next week to see if he can help, and if not it is off to Cleveland in April. We have insurance, but still pay a lot out of pocket, and I have not been able to work due to my health, so our income is less than it would otherwise be.
Lorsall

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