Deduction for Health Insurance Premiums

[JDGotwald]

I am retired and on Medicare.  My wife is not yet eligible for Medicare and her job doesn't provide health insurance so she pays a substantial premium for her health insurance.  Are her health insurance premiums deductible either on federal or state (Ohio) income tax? 

[ToddL99]

Yes, your wife's  health insurance premiums are deductible on your federal and state (Ohio) income taxes, but that deduction is subject to limitations.

To deduct unreimbursed, out-of-pocket medical, dental, and vision costs on your federal return:

• You must take the itemized deduction;
• The expenses for you, your jointly-filing spouse, and your dependent(s) must exceed 7.5% of your AGI (adjusted gross income); and
• Only the portion above and beyond 7.5% of your AGI is deductible.

For additional information, see: Can I deduct medical, dental, and vision expenses?

[JDGotwald]

A follow-up question...

Can I deduct the premiums I paid for supplemental insurance and prescription drug coverage?

[JoannaB2]

It depends, The premiums purchased  through the Health Insurance Marketplace are deductible on federal return, and may be on state return. In 2021, taxpayers can deduct qualified unreimbursed medical expenses over 7 1/2% of the adjusted gross income.  If you received form 1095-A  enter the information on the tax return.  The amount of premiums paid will be transferred over to Schedule A (Itemized Deduction), if you're qualified to claim itemized deductions. If you're self-employed, you can claim the premiums as adjustment to your income or a business expense on Schedule C.