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Can I deduct the cost of my employer sponsored health insurance?

 
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1 Reply
HelenaC
New Member

Can I deduct the cost of my employer sponsored health insurance?

No, you cannot deduct the cost of employer sponsored healthcare if it was paid with pre-tax monies.

If you pay your health insurance premiums with after tax monies, they may be deductible on Schedule A if you itemize your deductions and meet the 7.5%/10% Adjusted Gross Income threshold. Enter your after tax premiums in TurboTax. TurboTax will do the calculations. 

Health insurance premiums reflected on your W-2 are generally pre-tax and not deductible on your income tax return.

Medicare Part A premiums are not deductible if you're covered under Social Security or if you're a government employee who paid Medicare tax.

However, if you're not covered under Social Security (nor a government employee who paid Medicare tax) and you voluntarily enrolled in Medicare A, you can deduct those premiums.

Premiums for the other Medicare programs – Part B (supplemental medical insurance), Part C (Medicare Advantage), and Part D (voluntary prescription drug insurance) – are deductible.

Additional information:

Can I deduct health insurance premiums taken from my paycheck?


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