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If I am paying health insurance - non exchange, not thru an

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If I am paying for...
If I am paying for private health insurance - non exchange, not thru an employer -, is that health exchange tax deductable
Submitted: 1 year ago.Category: Tax
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Answered in 3 minutes by:
2/27/2016
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,250
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello

Health insurance you pay with money that has already been taxed is deductible on Schedule A. Your medical expenses need ot be more than 10% of your Adjusted Gross Income to allow you to benefit from the expenses.

You can include in medical expenses insurance premiums you pay for policies that cover medical care. You can't include in medical expenses insurance premiums that were paid and for which you are claiming a credit or deduction. Medical care policies can provide payment for treatment that includes:

  • Hospitalization, surgical services, X-rays,

  • Prescription drugs and insulin,

  • Dental care,

  • Replacement of lost or damaged contact lenses, and

  • Long-term care

Please remember to rate my service excellent once you have all the information you need. If you have any other questions, please ask me – I’ll be happy to respond. Thank you!

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago

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