If You Have Good Health Insurance, You Should Probably Not

question 77

True/False

If you have good health insurance, you should probably not take out medical payments coverage on your automobile policy.

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Definitions:

Head of Household

A tax filing status for individuals who are unmarried or considered unmarried, have paid more than half the cost of keeping up a home for the year, and have a qualifying person living with them.

Standard Deduction

A fixed dollar amount that reduces the income on which you are taxed, available to all taxpayers who do not itemize their deductions.

Taxpayer

An individual or entity that is obligated to make payments to municipal, state, or national governments, including taxes on income, property, or sales.

Single

A tax return designation for single taxpayers who are ineligible for any other filing statuses.