Yes, you can claim your total annual premiums for the health insurance if you pay for if out of your pocket. It is deducted as your medical expenses:
- Federal Taxes
- Deductions and Credits
- Scroll down to Medical,
select Medical Expenses,
enter the total amount for all medical insurance premiums
Note: medical expenses must exceed 10% of your Adjusted Gross Income (or 7.5% if you 65 and older) to be deductible; often, they also must be part of your other itemized deductions, such as mortgage interest, real estate tax, state income tax, charitable donation. If you are not itemizing, the medical deduction will not make a difference on your tax return...
