Medicare Part B, CRA

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
stewak2
Posts: 110
Joined: Mon Sep 18, 2006 2:47 pm

Medicare Part B, CRA

Post by stewak2 »

Dual citizen, Canadian resident, commuting to work in US, qualify for Medicare
Plan to keep working past 65 ( next year )
Medicare Part A is free, so clearly I sign up for it, if only for emergency coverage while traveling in US.
Part B would cost me about 4K USD a year, since I am still working and my income is high.
It might be valuable since health care in Ontario is collapsing.
What are the CRA/Canadian tax considerations, if any?
I don't think I could deduct the premiums the way I can with FICA/Medicare, correct?
Also, I don't think I could claim the premiums as eligible medical expenses in Canada, correct?
Top
nelsona
Posts: 18659
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Medicare Part B, CRA

Post by nelsona »

They would be eligible as a medical expense in Canada. Be aware that no Cdn medical expenses are covered by Medicare.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Top
Post Reply

Return to “Canada / United States Tax & Accounting”