prepaid insurance

Are Health Insurance Payments Prepaid?

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Are Health Insurance Payments Prepaid? Some types of insurance, such as auto and health insurance, almost always operate on a prepaid basis, where the insured pays the premium up front for the coming term of coverage. Is insurance a prepaid? Key Takeaways Prepaid insurance is payments made to insurers in advance for insurance coverage. Insurance

How To Account For Pre Tax Health Insurance Jounal Entry?

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How To Account For Pre Tax Health Insurance Jounal Entry? Health insurance contributions by employees must be posted in a liability account. This data is also recorded in the ledger. Later, when you make the premium payment, record a debit to the liability account. Health insurance premiums are usually paid to the carriers each month.