My employer does not offer health insurance - I buy mine after taxes. Can I deduct the cost of the insurance?

Question

I only made $39,000 and paid $2,900 in insurance premiums - not counting the co-pays to see the doctor and the cost of prescriptions.

Answer 1

yes , self employed people can deduct this, BUT more importantly, you should review your coverage and benefits, to make sure that the plan you have is the best value for the money you are spending.

High deductible plans ARE the way to go if you are healthy because you can find plans with a co-pay benefit for when you go to the doctor.....

Answer 2

yes u can

Answer 3

Yes, your medical expenses can be deducted but there is a big if - They are deductible if you itemize your deductions on schedule A and if your medical deductions exceed 7.5% of your adjusted gross income. If you just take the allowed standard deduction you cannot deduct medical expenses.

Answer 4

Your medical expenses are tax deductable. I would suggest using a good preparer to do them and they will get you what you are allowed.

Answer 5

It is hard to say. You have to check it out yourself.here is some useful information for your question might be helpful.http://health-insurance.expert-tip.info/...