BillM223
Expert Alumni

Deductions & credits

Don't blame the IRS - the Tax Code is written by Congress. The IRS just has the miserable job of trying to figure how to make the Tax Code work.

 

"Without the Market Place I would have no insurance - therefore I consider it Healthcare continuation coverage, but I'm guessing the IRS doesn't agree with this?"

 

No, they mean actual COBRA (insurance required to be offered by your employer for up to 18 months after you leave a job, or perhaps are laid off from a job). And they mean that you have to actually be receiving unemployment from your state.

 

"I'm guessing reimbursement to myself from the HSA for paying my premiums with taxed dollars is out as well?"

 

Yes, for the same reason.

 

If you ever found yourself working as a contractor instead of as an employee, then you would be "self-employed" and able to deduct your health insurance premiums as an above-the-line deduction.

 

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