Yes, Medicare Part B premiums are a deductible health insurance premium.
Medicare Part A premiums aren't deductible if you're covered under Social Security or if you're a government employee who paid Medicare tax.
- However, if you aren't covered under Social Security (nor a government employee who paid Medicare tax) and you voluntarily enrolled in Medicare A, you can deduct those premiums.
Yes, premiums for supplemental medical insurance, Part C (Medicare Advantage), and Part D (voluntary prescription drug insurance)—are deductible.
- To get the medical expense deduction, the sum of all your itemized deductions (which also includes things like donations and property taxes) must exceed your standard deduction amount.
- You're only allowed to deduct medical expenses that go above and beyond 7.5% of your AGI.
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