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Get your taxes done using TurboTax
No The premiums for company health insurance are non-tax deductible. Employers take out premium payments from your payroll on a pre-tax basis, therefore, your employee contributions were already taking advantage of the tax-savings and can't be deducted on your taxes. At the end of the year, employers send form 1095-C as proof of health insurance coverage.
On the other hand, Cobra insurance is a health plan that allows you to continue employer-sponsored insurance coverage even if you no longer work for that company. Premiums for COBRA insurance are tax deductible, as they are paid entirely by you on an after-tax basis.
‎April 1, 2021
12:20 PM