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Are TRICARE Reserve select monthly premiums tax-deductible?

April 26, 2017Credits deductible deductions Finance Health income Insurance Reserve tax Tricare

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Are TRICARE Reserve select monthly premiums tax-deductible?

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While in general health premiums may prove to be tax-deductible if they comprise more than 7.5 percent of adjusted gross income, Tricare (including TRICARE Reserve select) monthly premiums are deducted from pretax dollars. Thus, they are not considered part of your wages and you can not double dip by claiming a deduction, as Bankrate.com explains.