Question

medical insurance deductions for self employed

Forum|Forum|1 year ago
March 18, 2025
1 reply
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My husband is self employed. We are both retired. We have a medical supplement insurance to our Medicare that we have been able to purchase through my former employer as a retired employee. Is that considered health plan subsidized by employer and not eligible to take the premiums we pay as a deduction? We pay monthly premiums for medical and dental insurance converage. I know we can take the Medicare Part B.

M

MinhT1

You are correct.

Your self-employed husband can deduct as self-employed health insurance his Medicare Part B premiums, but not the supplemental insurance premiums through your former employer.

The IRS says in this document page 1:

For self-employed individuals filing a Schedule C (Form 1040) or F (Form 1040), a policy can be either in the name of the business or in the name of the individual.

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J

JudyC14Author

Thank you.
Just to clarify. We pay the monthly medical and dental insurance premium that is offered through my former employer. There is no contribution from the former employer. Can we still not deduct the monthly premium?