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V
Vruegemer
February 28, 2021
Question

Medical Insurance Premiums

  • February 28, 2021
  • 1 reply
  • 0 views

I retired at 61 during 2020 am paying my medical insurance premiums.  Are these premiums deductible under medical expenses? 

 

 

    1 reply

    C
    Cynthiad66
    March 2, 2021

    Yes.  Medical Insurance Premiums are deductible.

    You must itemize your deductions to claim medical expenses.

     

    You probably already know that you can deduct things like medical and dental fees, co-pays, eyeglasses, prescriptions, lab fees, surgery, and hospital facility fees.

     

    Tip: You can deduct the portion of medical expenses that exceeds 7.5% of your adjusted gross income (AGI) for 2020.

     

    What Kinds of Medical Expenses are Deductible

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