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TopicHealth Care Tax Deductions
ContentThe current system by which Oklahomans receive health insurance suffers from costly flaws. One major flaw is the preference over individuals the Oklahoma tax codes gives to those who receive insurance through their employers: such insurance, which is valued highly, is not counted as income and is not taxed, thereby providing a major tax break not available to individuals. The tax code needs to be changed to provide insurance tax incentives by enacting a maximum $10,000 tax deduction to individuals who purchase private health insurance on their own. This not only will make private health insurance more affordable to all Oklahomans by providing tax incentives that offset annual premium costs, but it will also help remove a costly burden to Oklahoma businesses.
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