Two Questions

[dsrnc]

Hello all! I have been lurking around the site for some time now and have received a lot of information! Thanks! But I do have a couple of questions. I am considering filing a Chapter 13 and wanted to know if:
1. My employer is funding a pension for me. I had the option of what type and opted for a Roth IRA. Does this count as income for me? The checks are not written to me.
2. My employer does not offer a health plan, and I am not able to obtain insurance on my own (pre-existing conditions), in January, my employer will be giving me a stipend (I guess you would call it that) to be used toward my medical expenses in lieu of insurance. Will this be considered income to me? This check will be written to me.

Thanks for any input you may have!

[momofthree]

How does the pension show on your paycheck stub & w2? That's pretty much what it will be based off of. If your employer lists it as income (and a paycheck deduction), then it will be most likely be counted as income, but you would then list it as a deduction on your schedule I.

The health plan will show as income, but if you have high out of pocket expenses that are provable, you will be able to claim the expense on your schedule J and they will basically cancel each other out.

As always, consult your attorney.

[dsrnc]

Thanks for the reply! That is kind of what I was thinking, in both cases they will cancel each other out. The IRA is listed as income on my stub and I will by far have the out of pocket expenses to prove the medical. Thanks again!

[justbroke]

2. My employer does not offer a health plan, and I am not able to obtain insurance on my own (pre-existing conditions), in January, my employer will be giving me a stipend (I guess you would call it that) to be used toward my medical expenses in lieu of insurance. Will this be considered income to me? This check will be written to me.

If you don't actually pay for insurance, then this is simply income. You would have nothing to offset it on Schedule I. Now, on Schedule J, you could claim medical expenses so long as you can prove them. (While I did just write "so long as you can prove them", this would be up to the Trustee as to whether they would require proof.)