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New Member
posted Mar 27, 2024 4:37:57 PM

I am on long term disability through work. I pay for my insurance out of pocket and not my paycheck anymore. Do I report that?

Clarified to say that I pay my employer the money for the health insurance

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1 Replies
Expert Alumni
Mar 27, 2024 5:36:12 PM

If your health insurance premiums are being paid out of pocket (as opposed to being deducted from your paycheck pre-tax) they are potentially tax deductible as an itemized deduction.  In addition, you can only deduct medical expenses (including health insurance premiums) to the extent that they exceed 7.5% of your Adjusted Gross Income (AGI).  For additional information see Are Medical Expenses Tax Deductible?