EOBs Can Save Money for Y-O-U During Tax Season

January marks the start of new beginnings, including the beginning of tax season. Make a New Year’s resolution for a healthier return by tracking your medical expenses through your TRICARE explanation of benefits (EOBs) for your tax accountant and a possible deduction.

What Are Medical Expenses?

The Department of the Treasury, Internal Revenue Service defines medical expenses as the "costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body." They include costs of equipment, supplies, and diagnostic devices. Dental expenses are also considered medical expenses.

Medical care expenses must be used primarily to alleviate or prevent a physical or mental defect or illness. They do not include expenses that are merely beneficial to general health, such as vitamins or a vaccination.

Medical expenses include the premiums paid for insurance that cover medical care expenses, and the amounts paid for transportation to get medical care. They also include amounts paid for qualified long-term care services and limited amounts paid for any qualified long-term care insurance contract.

Begin Filing EOBs Now

In order to maximize your medical expense deductions for the 2006 tax season, begin a collection of EOBs for each TRICARE beneficiary in your family.

Registered beneficiaries on www.triwest.com can access their EOBs by logging in to their secure TriWest account. From the Personal Profile, click on "Claims" and select the appropriate "EOB" button.  If you are not currently a registered user on www.triwest.com, register today!.

Happy Returns!