Question

can the company pay for doctor copay and drug prescription?

Forum|Forum|1 year ago
March 9, 2025
1 reply
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for tax year 2024, can company pay for health insurance's copay and out of pocket charges

Medical expenses are personal in nature. In order for a business to deduct an expense, it must be "ordinary and necessary" for the business. This means the expense is commonly found in the specific business and helpful in running the business. Medical copayments and out of pocket costs would be considered personal and are not deductible as business expenses. This is different than offering employer-provided medical insurance, which is deductible as an employee benefit. Self-employed individuals may be eligible to deduct the cost of their medical insurance premiums.

Health Insurance Premiums for Self-Employed

@tomyuen007

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