Yes, The medical insurance coverage includes health, dental, and vision. Those are deductible on your 1040 income tax return, Schedule A (Itemized Deduction) as medical expense. Your itemized deductions (including medical expenses over 7 1/2 % of adjusted gross income) must exceed your standard deduction to claim it.
Below are 2020 Standard Deduction:
- Single and Married Filing Separate $12,400
- Married Filing Joint and Qualifying Widow/ widower 24,800
- Head of Household 18,650
Additional standard deduction may apply for married taxpayers 65 or over and blind (plus $1,300) and single and head of household 65 and over and blind ($1,650).
