Deductions & credits
I am going to give you the rules so you can see how your plan fits into the insurance for the business to see if it qualifies. I am not sure if yours is subsidized or purely voluntary to give you an answer.
About Form 7206, Self-Employed Health Insurance Deduction states: The insurance plan must be established, or considered to be established, as discussed in the following bullets, under your business. • For self-employed individuals filing a Schedule C (Form 1040) or Schedule F (Form 1040), a policy can be either in the name of the business or in the name of the individual.
Medicare premiums you voluntarily pay to obtain insurance in your name that is similar to qualifying private health insurance can be used to figure the deduction.
But don't include the following. • Amounts for any month you were eligible to participate in a health plan subsidized by your employer or your spouse's employer or the employer of either your dependent or your child who was under the age of 27 at the end of 2024.
