New Member

I am in a employer health insurance program but as a retiree I pay the premium out of my checking account NOT on payroll are these premiums deductible?

Level 15

Deductions & credits

Health care insurance premiums and other medical expenses that you paid with out of pocket funds are an eligible medical expense that you can deduct using Schedule A for itemized deductions.  However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted.  Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2018 

  • Single - $12,000 add $1,600 if age 65 or older
  • Married Filing Separately - $12,000 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,000 add $1,600 if age 65 or older

To enter your medical expenses -

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Deductions and Credits
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Medical
  • On Medical Expenses, click the start or update button

Or enter medical expenses, sch a in the Search box located in the upper right of the program screen.  Click on Jump to medical expenses, sch a