I am not 65 years old and am paying for my own medical because I am not yet eligible for medicare. Can I deduct the health insurance premiums?

[Dave]

Can I deduct health insurance premiums during early retirement?

[xmasbaby0]

Medical insurance premiums you paid out of pocket can be entered as a medical expense if you are itemizing deductions.

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2025—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

2025 STANDARD DEDUCTION AMOUNTS

SINGLE $15,750  (65 or older/legally blind + $2000)

MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600)

MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600)

HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)

[MaryK4]

If you are fully retired and do not have self-employment income, you can only deduct premiums as an itemized medical expense on Schedule A.   You can only deduct the portion of your total medical expenses (including premiums) that exceeds 7.5% of your Adjusted Gross Income (AGI).  If your standard deduction is more than your total itemized deductions, you will not be able to utilize the deduction.

To enter medical expenses in TurboTax, navigate to Federal Taxes/Federal > Deductions & Credits > Medical > Medical Expenses and follow the interview.