The additional medical expense is automatically included in your medical expenses on Schedule A. Only medical expenses in excess of 7.5% of your Adjusted Gross Income (AGI) are deductible. In addition, medical expenses are an itemized deduction. They will not reduce your tax or increase your refund unless your total itemized deductions are more than your standard deduction.
It's generally better to take the self-employed health insurance deduction because it directly reduces your taxable income dollar for dollar. It is not subject to the 7.5% of AGI threshold, and you get the self-employed health insurance deduction even if you use the standard deduction because it's more than your itemized deductions.
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