No, you do not enter it and no, it won't help to reduce your tax bill.
The Affordable Care Act, or Obamacare, requires certain employers to offer health insurance coverage to full-time employees and their dependents. Further, those employers must send an annual statement to all employees eligible for coverage describing the insurance available to them. The Internal Revenue Service (IRS) created Form 1095-C to serve as that statement. It does not get entered on your tax return though. In past tax years, the form was needed to indicate that you were covered to avoid a possible penalty tax, or Healthcare Responsibility Payment. Tax Reform was passed into legislation removing the penalty, so the form and related questions are no longer necessary.
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Box 12 amounts with the code DD signify the total cost of what you and your employer paid for your employer-sponsored health coverage plan. In most cases, you can't deduct your share of health coverage costs for a group plan offered through your employer.
The reason? Most premiums are paid with pre-tax dollars, which means they are deducted from your wages before taxes are applied. Deducting them again as a medical expense would be "double-dipping."
You can only deduct the premiums if your employer included them in Box 1 (Gross Wages) of your W-2. However, this is highly unusual and contrary to the standard practice. If you are in this rare situation, the premiums would be deductible, but only if you itemize your deductions. And if you itemize and have medical expenses in excess of 7.5% of your AGI, only then would you see a tax benefit from your medical insurance premiums.
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