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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4434
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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With regard to deducting health insurance premiums for the

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With regard to deducting health insurance premiums for the self-employed: the IRS code states that self-employed ins. premiums are tax deductible except "if you were eligible to participte in a subsidized group health insurance plan provided by your or your spouse's employer." My spouse is retired. Her former employer offers partially subsidized health insurance for retirees. Question: Are my self-employed health insurance premiums tax deductible in this scenario? My spouse, again, is no longer employed and has chosen to be on my plan.

Rakhi Vasavada :

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

Rakhi Vasavada :

YES, in your scenario, your insurance premium would be deductible. You have interpreted the IRS Code correctly. You can definitely deduct your health insurance premium under your current circumstances.

Rakhi Vasavada :

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we receive credit for assisting you. Alternatively, please feel free to revert back with a reply if you need further assistance and I would be more than happy to assist you further.

Warm Regards,

Rakhi Vasavada and other Finance Specialists are ready to help you
Customer: replied 2 years ago.
Just to clarify: The health insurance premiums I pay for my spouse and I through my self-employed business are tax deductible even though her former employer offers a subsidized plan for retirees. Is this correct?

Ken
Dear XXXXX,

Hello and welcome again. Thank you for your follow up.

Yes, that is correct. The premiums would still remain tax deductible.

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we receive credit for assisting you. Alternatively, please feel free to revert back with a reply if you need further assistance and I would be more than happy to assist you further.

Warm Regards