What “Out of Pocket” Means

About ten years ago, I enjoyed one night at the hospital. The bill was only $17,000 (before discounts). My share of the bill was $0, so my medical expenses from that hospitalization were zero. If you don’t spend the money, you can’t deduct it.

Dave Fazio has a cautionary tale on what out-of-pocket medical expenses mean for one of his clients.


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