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Exclusion from 10% penalty and deduction for income tax purposes are not directly related - same expenses may be used for both purposes as long as all requirements met.
Specifically to qualify for exclusion from penalty - the taxpayer must have distribution above unreimbursed medical expenses during the year minus 7.5% of his/her adjusted gross income for the year.
See for reference - http://www.law
However - according to IRS publication 590 page 56 - http://www.irs.gov/pub/irs-pdf/p590.pdf
You can only take into account unreimbursed medical expenses that you would be able to include in figuring a deduction for medical expenses on Schedule A (Form 1040).
Thus - because self-employment insurance deduction is NOT considered for figuring a deduction for medical expenses on Schedule A - it is also may not be used for 10% penalty exclusion.
However - if you choose to deduct health insurance premiums on schedule A - they are eligible for 10% penalty exclusion. You do not have to itemize your deductions to take advantage of this exception to the 10% additional tax.