Under your employer's plan, your premium is deducted from your gross pay before tax and is calculated as earnings. The insurance payments can be deducted as medical expense, if qualified to itemize deductions. Note: The medical expenses must exceed 7 1/2 of household income.to deduct premiums paid.
Form W-2 is an Internal Revenue Service tax form used in the United States to report wages paid to employees and the taxes withheld from them
