Study Guide- Sickness & Injury

The study guide is provided to guide you through the course material in a step by step format.

Course material is a PDF document.

Chapter 1 – Health Insurance

Assignment: Chapter 1 <<>> Review Questions Chapter #1: # 1-5

When you have completed this chapter, you should be able to:

• Identify the tax treatment of personally-owned health insurance premiums and benefits;
• Compare the tax treatment of personally-owned health insurance premiums paid by self-employed taxpayers and taxpayers who are not self-employed; and
• Apply the rules governing the tax treatment of employer-paid health insurance premiums and benefits.

Chapter 2 – Tax-Favored Health Plans

Assignment: Chapter 2 <<>> Review Questions Chapter #2: #1-5

Upon completion of this chapter, you should be able to:

• Identify the tax treatment given to –
  • Archer Medical Savings Accounts,
  • Health Savings Accounts, and
  • Health Reimbursement Arrangements; and
• Calculate the contributions that may be made to –
  • Archer Medical Savings Accounts, and
  • Health Savings Accounts.

Chapter 3 – Disability and Long Term Care Insurance Coverage

Assignment: Chapter 3 <<>> Review Questions Chapter #3: #1-5

When you have completed this chapter, you should be able to:

• Compare the tax treatment of premiums for and benefits paid under individually-paid and employer-paid disability income policies;
• Identify the tax treatment of premiums for and benefits paid under various business-related disability policies; and
• Apply the tax rules to long term care premiums and benefits.