Question

Health insurance premium for Self employed

Forum|Forum|6 years ago
February 29, 2020
1 reply
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I own my own business.

My wife is retired. Her former employer offers "self-insured employer sponsored coverage" that we must pay for every month out of our bank account. Can I deduct this as a Business Expense under "Self employed health insurance for this business?"

TurboTax Live Self-Employed Online

B

Bsch4477

Are you able to be covered by her employer’s insurance?

C

Citrine1977Author

yes, but we must pay each month with a check. It is Not taken from any income with pre-tax dollars

B

Bsch4477

You are not eligible for self employed health insurance deduction if able to be covered by a subsidized health plan from your or your spouse’s employer. Since the employer offers a group plan it is a plan that offers a lower premium than if you were to get the same coverage on your own and in that sense is a subsidized plan.