health ins premiums on sched J?

[ja181]

My health insurance is through a group policy belonging to a small corporation I am a 33% owner in. The monthly costs on this is $360 per individual.

I was supposed to be paying my portion of it, but I haven't been able to and the company has been paying.

When I file chapter 7, I will be surrendering my ownership in the company.

Is this monthly cost something I can include on my schedule J?

[loser104]

I would like to know the answer to that also. I would think you CAN include that number on your schedule J if you reasonably expect to start paying that amount again going forward.................all of you experts feel free to chime in!

[justbroke]

Schedule J is for your current expenses with a slight lean towards the future. If you haven't been paying, and won't be paying, you cannot, technically, claim the expense. Since you compound not paying it in the past, with intent to surrender your ownership in the LLC, then you won't have it going forward either.

I don't believe it's an expense since you aren't actually paying it and have no intent to pay it in the future.

[ja181]

Schedule J is for your current expenses with a slight lean towards the future. If you haven't been paying, and won't be paying, you cannot, technically, claim the expense. Since you compound not paying it in the past, with intent to surrender your ownership in the LLC, then you won't have it going forward either.

I don't believe it's an expense since you aren't actually paying it and have no intent to pay it in the future.

Actually, I have to pay it, I have many medical problems and have to have insurance. I plan to pay it in the future, because I cannot get insurance on the individual market (already tried). Since my ownership in the company will belong to the bankruptcy estate, the company will not cover it for me anymore.

[ja181]

Sorry, I didn't make that part clear -- I intend to *start* paying it since I need it, and include the amount I haven't paid, that I owe to the company, as a creditor.

[justbroke]

Actually, I have to pay it, I have many medical problems and have to have insurance. I plan to pay it in the future, because I cannot get insurance on the individual market (already tried). Since my ownership in the company will belong to the bankruptcy estate, the company will not cover it for me anymore.

Okay. Please forgive me as this just reads as doublespeak to me.

You're compelled to pay it, but you aren't currently paying it? You're expecting to pay it in the future, because you need it? And, since your share of the LLC belongs to the Estate, the company won't cover it?

I'm sure the answer is somewhere in there. My point, was specifically, if you can document that you have paid and will continue to pay it, then you can claim it on Schedule I. If this is a new payment, you will need to complete Question 17, add the costs as an expense on Schedule I for medical insurance, and be prepared to show documentation.

[ja181]

Okay. Please forgive me as this just reads as doublespeak to me.

You're compelled to pay it, but you aren't currently paying it? You're expecting to pay it in the future, because you need it? And, since your share of the LLC belongs to the Estate, the company won't cover it?

I'm sure the answer is somewhere in there. My point, was specifically, if you can document that you have paid and will continue to pay it, then you can claim it on Schedule I. If this is a new payment, you will need to complete Question 17, add the costs as an expense on Schedule I for medical insurance, and be prepared to show documentation.

=)

I should have been paying it, but the company has been paying it as a favor to me.

I'm surrendering my ownership in the company though. And they won't be doing this favor for me anymore because of that.

But I'm eligable for continuing the coverage because of COBRA, but I have to pay it myself.

I think I've got my answer here. I appreciate it, thanks.