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?
Medicare Part B, CRA
Moderator: Mark T Serbinski CA CPA
Re: Medicare Part B, CRA
They would be eligible as a medical expense in Canada. Be aware that no Cdn medical expenses are covered by Medicare.
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