Permanent Health Insurance settlement - Taxed or not?
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nathalia
Apprentice
Joined: 17 Jun 2005
Posts: 9
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 Posted: 01/02/08 - 06:26 Post subject: |
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| I heard of cash health insurance settlement and I wonder what is it like and is it taxed or not? As well I want to learn about permanent health insurance settlement. I assume insurance company is entitled to some settlement just like we are entitled to reimbursement when we pay for medical care and services. |
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ahmad
Apprentice
Joined: 04 Jun 2005
Posts: 4
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| Posted: 02/01/08 - 02:39 Post subject: |
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| Settlements are taxable but if you somehow choose so called structured settlement you can avoid taxation. Structured settlements are settlements paid off in installments over the time and it may significantly reduce taxes. Maybe you should consult with your attorney to manage and set up that structured settlement if you want to pay less for taxes. |
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