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Self-Employed health insurance deductions - not a MarketPlace plan but qualifies under ObamaCare Act. Can I deduct premiums?

melissa-quast — Tue, 04 Jun 2019 19:16:53 GMT

I am self-employed and participate in a medical cost sharing program (which qualifies under the ObamaCare Act). Can I deduct my monthly premiums like I would be able to, if I had a MarketPlace product?

Medical cost sharing programs like Medishare or Golden Ru...

KittyM — Tue, 04 Jun 2019 19:16:54 GMT

Medical cost sharing programs like Medishare or Golden Rule are not considered medical insurance under the Affordable Care Act, although they do provide an exemption from the requirement to have medical insurance.

Since they are not medical insurance, your contributions are not deductible.

Thank you for the prompt, clear reply!

melissa-quast — Tue, 04 Jun 2019 19:16:54 GMT

Thank you for the prompt, clear reply!

My pleasure!

KittyM — Tue, 04 Jun 2019 19:16:56 GMT

My pleasure!