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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29975
Experience:  Taxes, Immigration, Labor Relations
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My husband and I are both permanently disabled, under 65. My

Customer Question

My husband and I are both permanently disabled, under 65. My husband was a pilot for Lufthansa until 2013, when he fell off the wing of a plane and was no longer able to work. We were covered on his medical until he was terminated at the end of 2013, at which point we were covered under his Cobra plan until mid-2015. In mid-2015, he become eligible for Medicare and I had to switch to Marketplace healthcare plan until my medicare kicked in in Nov 2015. My husband receives Social Security Disability, Veterans Disability, Worker's Compensation, and Long Term Disability monthly - his Long Term Disability is taxed. I receive Social Security Disability and Long Term Disability monthly - but my Long Term Disability is not taxed. For 2015, we paid the full cost of all of the medical premiums out of our pocket, so are any of our premiums deductible? And if so, which ones?Here is the 2015 breakdown of premium costs:
Cobra premiums - $9118.00
Blue Cross Marketplace Healthcare plan - $2833.00
Cigna Health Spring - Medicare Part D premium (Prescription Coverage) - $230.10
Medicare A and B, plus IRMAA fee - $1322.10
Medigap - $1621.50Thanks in advance for the quick response.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
All medical expenses - not just insurance premiums - that you pay out of pocket are deductible on your tax return.
Expert:  Lev replied 1 year ago.
That includes Medicare A and B premiums which are deducted from your social security benefits.If you itemize your deductions for a taxable year on Form 1040, Schedule A , Itemized Deductions, you may be able to deduct expenses you paid that year for medical and dental care for yourself, your spouse, and your dependents. You may deduct only the amount of your total medical expenses that exceed 10% of your adjusted gross income or 7.5% if you or your spouse is 65 or older. The 7.5% limitation is effective only from January 1, 2013 to December 31, 2016 for individuals age 65 and older and their spouses. You figure the amount you are allowed to deduct on Form 1040, Schedule A.In additional to costs you mentioned - you will add other medical expenses - dental, glasses, pharmacy co-pays, medical miles, doctor's co-pays, etc...I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.