During 2017, Kathy, Who Is Self-Employed, Paid $650 Per Month

question 32

Essay

During 2017, Kathy, who is self-employed, paid $650 per month for an HSA contract that provides medical insurance coverage with a $3,000 deductible. The plan covers Kathy, her husband, and their three children. Of the $650 monthly fee, $300 was for the high-deductible policy, and $350 was deposited into an HSA. How much of the amount paid for the high-deductible policy can Kathy deduct as a deduction for AGI?

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Definitions:

Intuition

The ability to understand something immediately, without the need for conscious reasoning.

Decision Support Systems

Computer-based systems that support decision-making activities by analyzing large volumes of data to solve complex problems.

Save Face

Actions taken to preserve one's reputation or dignity in the face of embarrassing or compromising situations.

Ethical Decisions

Choices made based on moral principles and values, often reflecting considerations of what is right and fair.