Insurance from US or India

[submittedviaemail]

Please suggest me the insurance plans for visiting parents from India, alos please suggest me if the medical premium paid durin their stay is non-taxable from my us wages or what else

Can u suggest me the plans type available , what is your opinion about tata aig plan

[insubuy]

It is better to purchase insurance from US based company.

There are 2 types of insurance plans:
Fixed: Limited, cheaper
Read: http://insubuy.com/guide/terms.jsp?section=fixed

Comprehensive: Better, more expensive
Read: http://insubuy.com/guide/terms.jsp?section=comprehensive

And the plans from India are generally fixed coverage for age above 55, even Tata-AIG.

It is better to buy comprehensive coverage plan.

If you would like to buy fixed coverage, look at Visitors Care at http://insubuy.com/visitors-care-insurance/
If you would like to buy comprehensive coverage, look at Protection America at http://insubuy.com/img/protectionamerica.jsp
Protection America is the best visitor medical insurance. Read http://insubuy.com/forum/showthread.php?t=25333

Generally, insurance premiums are tax deductible only if they exceed 7.5% of your gross annual income. For further details about tax issues, please contact your tax advisor.

Please let me know if you have any other questions

[submittedviaemail]

Thanks Narendra. I will check all of the plans mentioned and won’t buy any plan from India.

Currently I am having plan from aetna for which I am paying $205 for whole family and when I am getting my paycheck this $205 is being deducted from taxable monthly income i.e I do not have to pay tax on my premium paid and so I am wondering if I pay e.g $150 for my parents premium monthly , do I need to pay tax on this amount or will it be deducted from my taxable wages

[insubuy]

Please check with your tax advisor such as accountant or CPA for all tax related questions.