Are premiums paid for HIP plus deductible as medical expenses?

cynthiaeudy — Thu, 06 Jun 2019 13:05:15 GMT

Yes, medical expenses include the premiums you pay for i...

CathiM — Thu, 06 Jun 2019 13:05:16 GMT

Yes, medical expenses include the premiums you pay for insurance that covers the expenses of medical care. Any expenses you paid for deductibles and out-of-pocket expenses are part of medical expenses. You can include amounts you pay for transportation to get medical care. Medical expenses also include amounts paid for qualified long-term care services and limited amounts paid for any qualified long-term care insurance contract.

However, to claim these expenses you must itemize your using Schedule A and the total must exceed 7.5% of your AGI.

Here is link to help you know if you can itemize instead of taking the standard deduction: https://www.irs.gov/newsroom/itemizing-vs-standard-deduction-six-tips-to-help-you-choose

For more information about medical expenses, click on this link to IRS Publication 502: https://www.irs.gov/pub/irs-pdf/p502.pdf

topic Are premiums paid for HIP plus deductible as medical expenses? in Deductions & credits

Are premiums paid for HIP plus deductible as medical expenses?

Yes, medical expenses include the premiums you pay for i...