Brian is the sole proprietor of a book store and paid $5,000 last year in premiums for medical expense coverage. He incurred $6,000 in medical expenses and was reimbursed for these costs under his health plan. Which of the following statements is CORRECT?

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Brian is the sole proprietor of a book store and paid $5,000 last year in premiums for medical expense coverage. He incurred $6,000 in medical expenses and was reimbursed for these costs under his health plan. Which of the following statements is CORRECT?

A) Brian can take a partial deduction for the amount of premiums paid.

B) Brian must include the benefits received from his health plan in income.

C) Brian can take a deduction for the entire amount of premiums paid.

D) Brian must include part of the benefits received from his health plan in income.

Answer: C) Brian can take a deduction for the entire amount of premiums paid.

You should now have gotten the answer to your question “Brian is the sole proprietor of a book store and paid $5,000 last year in premiums for medical expense coverage. He incurred $6,000 in medical expenses and was reimbursed for these costs under his health plan. Which of the following statements is CORRECT?”, which was part of Insurance MCQs & Answers. Thanks for choosing us.