Originally Posted by EddieG
So how would my premiums qualify? It's not long term care insurance (you mean like nursing home care, right?). I'm not receiving unemployment. As far as I know, taking Cobra is not required under any federal law. I know that under Wisconsin law, under HIRSP, I'm required to exhaust cobra before qualifying for hirsp, but would this be a federal requirement under hipaa? How do you see this rule applying to my situation?
It's not you that's being required to take COBRA. It's the company that's being required to offer it.
Q-27. Are health insurance premiums qualified medical expenses?
A-27. Generally, health insurance premiums are not qualified medical expenses except for the following: qualified long-term care insurance, COBRA health care continuation coverage, and health care coverage while an individual is receiving unemployment compensation. In addition, for individuals over age 65, premiums for Medicare Part A or B, Medicare HMO, and the employee share of premiums for employer-sponsored health insurance, including premiums for employer-sponsored retiree health insurance can be paid from an HSA. Premiums for Medigap policies are not qualified medical expenses.
But I'm not an accountant.