HelenC12
Expert Alumni

Deductions & credits

If you're asking whether Medigap insurance premiums are tax deductible, yes they are.

  • Premiums for Medicare programs—Part B (supplemental medical insurance), Part C (Medicare Advantage), and Part D (voluntary prescription drug insurance)—are deductible.

To get the medical expense deduction, the sum of all your itemized deductions (which also includes things like donations and property taxes) must exceed your standard deduction amount.

  • You're only allowed to deduct medical expenses that go above and beyond 7.5% of your AGI.

 

Medicare Part A premiums aren't deductible if you're covered under Social Security or if you're a government employee who paid Medicare tax.

 

However, if you aren't covered under Social Security (nor a government employee who paid Medicare tax) and you voluntarily enrolled in Medicare A, you can deduct those premiums.

 

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