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can i deduct medical premiums from a marketplace in excess of what appears on my 1095-A and if so how in Turbotax ?

I purchased my medical insurance through my state's marketplace last year at full price (no premium assistance).  When I received my form 1095-A, the amount shown as my premium each month was less than what I actually paid in medical premiums.  I called the state marketplace people and they said it was not an error, that the 1095-A only shows the portion of the premium which is for 'essential' coverage (meaning I guess that my chosen plan offers something more than what is legally required).  Can I deduct the portion of my actual premiums which was not included on my form 1095-A or am I limited to what's on that form ?  If I can, do I enter that incremental amount in the 'medical premiums' section of 'deductions' in TurboTax online ?

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MaryK4
Expert Alumni

can i deduct medical premiums from a marketplace in excess of what appears on my 1095-A and if so how in Turbotax ?

Yes, you can deduct the total of all the premiums you paid in 2021 even if they were not included on the 1095-A.  The entry is medical premiums.  

 

If it is a personal deduction, you must itemize your deductions and you can deduct only the amount of total medical expenses that exceed 7.5% of your adjusted gross income. 

 

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1 Reply
MaryK4
Expert Alumni

can i deduct medical premiums from a marketplace in excess of what appears on my 1095-A and if so how in Turbotax ?

Yes, you can deduct the total of all the premiums you paid in 2021 even if they were not included on the 1095-A.  The entry is medical premiums.  

 

If it is a personal deduction, you must itemize your deductions and you can deduct only the amount of total medical expenses that exceed 7.5% of your adjusted gross income. 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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