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Level 2
March 19, 2025
Question

Insurance Premiums

  • March 19, 2025
  • 1 reply
  • 16 views

Hello

My husband and I paid for Prescription Insurance. We have different Insurance companies.  Are the total yearly costs we paid for this insurance called Insurance Premiums for tax deductions?

1 reply

AmyC
Level 15
March 19, 2025

If you purchased the insurance with after tax dollars, it would count as a medical expense under premiums. Well done! Some over the counter items also count:  band aids, crutches, covid tests, etc. 

See About Publication 502, Medical and Dental Expenses - IRS

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