Can I deduct secondary health insurance premiums? If so, what is the max (or how to calculate the max)? I am self-employed.

I have a primary health insurance from Obama Care Market Place, but it does not cover anything at all if not in the network. I would like to reduce the risk of medical cost that may incur out of network situation. So I am considering purchasing a secondary health insurance plan.

1114

Level 15

Jun 15, 2019 7:46:07 PM

Yes. You can deduct secondary insurance. For example, those who have Medicare can also deduct premiums for additional Medigap insurance.

New Member

Jan 31, 2020 11:16:24 AM

where on the turbotax form?????

Expert Alumni

Jan 31, 2020 9:00:10 PM

You can deduct health insurance and ling-term care insurance premiums for yourself, your spouse and any dependents if you are not offered coverage from you or your spouse's employer. The deduction is limited to your net income. The entry is in the Business Income Section.

@solonman

Why sign in to the Community?

Can I deduct secondary health insurance premiums? If so, what is the max (or how to calculate the max)? I am self-employed.