Can I deduct my out of pocket short term healthcare plans?

[FLOR46]

Hi , 

I own a single member LLC . In 2022 I have purchased two 6 months short term healthcare plans from United Healthcare under my name. Can I deduct them as  business expenses? If yes, how to do it properly? 

Thank you!

[DianeW777]

It depends. You can only claim the health insurance premiums write-off for months when neither you nor your spouse were eligible to participate in an employer-subsidized health plan.

For example, if you were single and ineligible for any employer-provided health plan during the last six months of the year because you left your job and started your own business, you can claim the deduction for premiums you paid for coverage during that six-month period.

• Deducting Health Insurance Premiums if You are Self Employed

[FLOR46]

Thank you for your help. Just to clarify my previous message, I don't have any employees. Health insurance plans has been purchased in 2022 by me already being in the business for a couple of years. But I never took any deduction assuming that, if it's under my name and not the company's name I am not qualified to take it.  After reading the information, you have provided, it looks like I can do it. 

Thanks again,

Best regards

[Vanessa A]

You do not have to have employees in order to deduct your health insurance premiums as a self-employed business expense as long as you meet the criteria as listed by @DianeW777