Medicare Part B, CRA

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stewak2
Posts: 109
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?
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nelsona
Posts: 18364
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.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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