Insurance Premiums

[Bettie Linscomb]

I am a retired federal employee - I paid medical insurance premiums, dental insurance premiums, and Medicare Part  B premiums ... Can I claim all 3 when itemizing expenses?

[DoninGA]

All three can be deducted as an itemized medical expense on Schedule A if the premiums paid were all from out of pocket funds and not reimbursed.

Health care insurance premiums and other medical expenses that you paid with out of pocket funds are an eligible medical expense that you can deduct using Schedule A for itemized deductions. However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

[Bettie Linscomb]

Thanks very much!!