A prospective new employer doesn't offer health insurance. They give a $500/mth stipend instead. Is this taxable income? Can I deduct my premiums if I can't itemize?

My understanding is that this is taxable income, which will leave me less than $400 to put towards an individual health plan. I have never been able to itemize deductions. Are my health insurance premiums going to be deductible if I can't itemize?