You are correct, you should wait till 2017 and report it on your 2017 tax return. Per IRS Publication 527, page 3: "Insurance premiums
paid in advance. If you pay an
insurance premium for more than one year in advance, you cannot deduct the
total premium in the year you pay it. For each year of coverage, you can deduct
only the part of the premium payment that applies to that year."
