INCOME TAX DEDUCTION:
MEDICAL INSURANCE
House Bill 4337
Sponsor: Rep. Judson Gilbert III
Committee: Tax Policy
Complete to 8-10-01
A SUMMARY OF HOUSE BILL 4337 AS INTRODUCED 2-22-01
The bill would amend the Income Tax Act to allow a taxpayer to deduct from adjusted gross income premiums paid in the tax year for medical insurance for the taxpayer and the taxpayer's immediate family members. This deduction would be available for tax years beginning after December 31, 2000, to the extent that the premiums had not been deducted in determining federal adjusted gross income and if the premiums had not been reimbursed from any source.
An immediate family members would be a spouse, parent, or child of the taxpayer claimed as a dependent for federal tax purposes. The term "medical insurance" would refer to any policy, contract, certificate issued under the Insurance Code or the Nonprofit Health Care Corporation Reform Act (which governs Blue Cross and Blue Shield of Michigan), or any self-funded plan.
MCL 206.30aa
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This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.