Exclusion

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Exclusion

1. Injuries, illnesses, or other conditions for which a health insurance policy does not provide coverage. Exclusions exist because they are thought to be too risky for the health insurance provider. For example, many insurance providers exclude treatment for some types of cancer because they are so expensive to treat. See also: Pre-existing condition.

2. Income that is not considered gross income for tax purposes. Exclusions include gifts, inheritance, and some others. It is important to note that just because a type of income is an exclusion, it does not mean that it is not taxed; it simply may be taxed differently. Exclusions are stated in the U.S. Tax Code.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Exclusion.

Medical services that insurance companies do not pay for are called exclusions. A typical exclusion is a wartime injury or a self-inflicted wound.

But coverage for certain pre-existing conditions, or health problems you had before you were covered by the policy, may also be excluded on some policies.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

Exclusion

An amount of income that is not included in gross income because the Tax Code excludes it. Examples, include gain from a qualified sale of a principal residence, income earned abroad, and gifts and inheritances.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
But others counter that it's not just legitimate, but essential, to exclude smokers and chronically ill people to figure out what weight is healthiest.
for any taxable year beginning before January 1, 2002." This provision would likely have dictated the Ninth Circuit's conclusion as to how much Warren could exclude for his parsonage allowance.
As Target illustrates, however, the same arguments can be used to exclude the testimony of accountants who offer expert opinions on damages in litigation.
The latter may exclude from gross income recoveries from loss wages resulting from the accident, but the former, assuming they meet the first hurdle (i.e., the statute has tort-like remedies), have the additional requirement of proving the damages were for physical or mental injuries caused by the illegal discrimination.
A plan cannot exclude part-time employees as a class even if actual plan coverage, after excluding part-time employees, would meet the minimum coverage test of IRC section 410(b).
TEI recommends that paragraph 20.2(2)(c) not exclude from adjusted equity any taxable profits or gains on a disposition to a non-arm's length party.
If one of the spouses continues to reside in the house, it remains his or her principal residence; this spouse still can roll over or exclude gain.
If R and his second wife sell home 2 within two years of the sale of home 1, R will generally not be able to exclude his portion of the gain on home 2, but his current wife will be able to exclude her half of the gain, up to $250,000.
Generally, such trusts are designed to take full advantage of the unified credit in the grantor's estate and exclude the corpus from the surviving spouse's estate.
(These limitations relate to the award's cost, not its FMV.) If the awards are under these limits, employees may exclude their entire FMVs from gross income.
The extent of these modifications will likely determine the defensibility of the taxpayer's position to exclude a vehicle from the luxury automobile limits.