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Level 2
February 26, 2020
Question

supplement medical insurance

  • February 26, 2020
  • 3 replies
  • 40 views

I am disable and I have Medicare part A&B plus a Medicare supplement insurance, that I pay by myself. Should I declare that insurance in my medical expenses?

Then I don't receive the form MA 1099-HC. What does that mean? I believe that I am still enrolled in the Minimum Creditable Coverage but how do i find it out?

    3 replies

    LeonardS
    Level 14
    February 26, 2020

    You can deduct your medical insurance as an itemized deduction on Schedule A. However, only medical expenses that exceed 7.5% of your gross adjusted income are deductible.  Also if you do not itemize you cannot deduct the payments. 

    The standard deductions for 2019 are.   

    • Single - $12,200 add $1,650 if age 65 or older add.   

    • Married Filing Separately - $12,200 add $1,300 if age 65 or older.  

    • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older.    

    • Head of Household - $18,350 add $1,650 if age 65 or older.    

     

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    lucariccoAuthor
    Level 2
    February 27, 2020

    Ok and thanks!

    The second part of my question was:  I don't receive the form MA 1099-HC. What does that mean?

    I believe that I am still enrolled in the Minimum Creditable Coverage but how do i find it out?

    ColeenD3
    Level 15
    February 28, 2020

    You will need to connect the Marketplace for MA. That question is not tax-realated.