Yes, you can continue your business and as long as you have a profit health care premiums can be a deduction.
The deduction will appear on line 29 of the Form 1040 however and not as a deduction on the Sch C.
If you are self-employed, you may be eligible to deduct premiums that you pay for medical, dental and qualifying long-term care insurance coverage for yourself, your spouse and your dependents. ... Unlike an itemized deduction, this deduction treatment is beneficial because it lowers your adjusted gross income (AGI).
