Are medical insurance premiums tax deductible?
Health Insurance Premiums are usually deducted from your paycheck (section 125) before taxes are figured. In this case, they would not be deductible. Some employers do not have this kind of plan (most do). In that case, the premiums would be deductible on Schedule A. This deduction (and all health expenses) must exceed 7.5% of your adjusted gross income and then the SCH A deductions have to exceed the standard deduction. Refer to IRS publications 17 and 502. If you were self-employed, all premiums would be deductible. If you have a Health Savings Account, all contributions are pretax.
