Medical Insurance Premiums


January 26th, 2010

Don’t forget that you can claim your medical insurance premiums as a medical expense. ¬†If you pay into a medical plan at work, be sure to get the total amount that you paid in during the year. ¬†Contrary to popular opinion, this amount if NOT always on your T4 slip. ¬†It might be, depending on your employer, but it is not a government requirement to have it on there. ¬†If it isn’t, simply save your last pay stub from the year, and keep it with your tax papers.

Remember too, that it is only the medical and dental insurance premiums that you can claim. ¬†You can’t claim the life insurance premiums. ¬†Sometimes you might pay into a plan that is comprehensive of medical, dental, life etc. ¬†If this happens you have to ask your employer for a breakdown of what is just for medical and dental.

Filed under: Personal Tax by David Boese No Comments »