In an effort to explain by example, or at least by handpicked scenario, the Treasury Department has released more details outlining the possible application of President Bush’s plan for a standard health insurance deduction.
The president’s plan, which he announced during his State of the Union address last week, would be part of a major change to the tax code -- treating employer-provided health insurance as taxable income (instead of exempting it from income and payroll taxes) and creating a new tax benefit for those buying insurance on their own rather than through an employer.
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