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New Member
posted Jun 4, 2019 12:16:53 PM

Self-Employed health insurance deductions - not a MarketPlace plan but qualifies under ObamaCare Act. Can I deduct premiums?

I am self-employed and participate in a medical cost sharing program (which qualifies under the ObamaCare Act).  Can I deduct my monthly premiums like I would be able to, if I had a MarketPlace product?

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1 Best answer
Level 2
Jun 4, 2019 12:16:54 PM

Medical cost sharing programs like Medishare or Golden Rule are not considered medical insurance under the Affordable Care Act, although they do provide an exemption from the requirement to have medical insurance.  

Since they are not medical insurance, your contributions are not deductible.

3 Replies
Level 2
Jun 4, 2019 12:16:54 PM

Medical cost sharing programs like Medishare or Golden Rule are not considered medical insurance under the Affordable Care Act, although they do provide an exemption from the requirement to have medical insurance.  

Since they are not medical insurance, your contributions are not deductible.

New Member
Jun 4, 2019 12:16:54 PM

Thank you for the prompt, clear reply!

Level 2
Jun 4, 2019 12:16:56 PM

My pleasure!