Are My Health Insurance Premiums Deductible?

Your health insurance premiums may be deductible on your tax return if they provide for reimbursement for doctor/dentist fees, hospitalization, surgical fees and other medical and dental expenses. It’s a deduction in the medical expense section of Schedule A (itemized deductions.)

For questions about life or disability insurance payments, see Can I Deduct my Life and Disability Costs?

No. If the premiums for your employer –sponsored health insurance were paid with “pre-tax” dollars, the cost is not deductible on your tax return. You know that you paid with “pre-tax” dollars if the amount that you paid for that insurance is not included in Box 1 (wages) of your Form W-2 (Wages & Tax Statement.)

You can deduct the premiums you pay for Medicare B (supplemental medical insurance) and Medicare D (voluntary prescription drug insurance program.)

If you are covered under social security (or if you are a government employee who paid Medicare tax), the amount paid for Medicare A is not deductible.

Yes, if you were self-employed and had a net profit for the year, you may be able to deduct such premiums but not on Schedule C. The deduction would be on Form 1040, line 29 (Self-employed Health Insurance Deduction.)

However you cannot take the deduction for any month that you were eligible to participate in any employer (including your spouse’s) health plan at any time during the month, even if you didn’t actually participate in the plan. Also the policy must be in your name or the name of your business. For more information see page 18 on  IRS Publication 535.

Yes, if the amount is separately stated.

Yes.