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Get your taxes done using TurboTax
Do not claim your Part B premium as a deductible medical expense to the extent that you are expecting it to be reimbursed, such as by an insurance company.
You deduct your final cost after insurance proceeds. To be tax deductible, medical expenses must not be reimbursed. In other words, if your insurance company pays for your expense (or reimburses you for an expense that you initially laid out), such expenses are not deductible. It must be genuinely “out of pocket” in order for you to have a tax-deductible medical expense. If you pay part and your insurer pays part, the portion you pay is deductible.
See this article for more information regarding deductible medical expenses.
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February 13, 2023
5:20 PM