My employer doesn't offer health insurance. Can I deduct my health insurance premiums from my taxes?

Question

I work as a part-time/temp employee (although still 40 hours/week.) After 1,000 hours they offered me health insurance, but before then I was paying for an individual plan. Can I deduct the premiums I paid up until enrolling in the company's group plan?

Answer 1

You can deduct medical expenses you paid out of pocket on Schedule A, to the extent those expenses exceed 7.5% of your income.

If you had any self-employment income, you could take 100% of those out-of-pocket medical insurance premiums off that income, up to the net income from self-employment.

Answer 2

there is not any tax earnings for human being well being coverage rates, except the medical deduction on agenda A. with any success you're healthful and also you will pay decrease rates than in case you've been employed and making use of a set coverage. you would possibly want to pick to purchase a severe deductible well being plan. in case you do, you would possibly want to set up a well being savings Account and make a deductible contribution to the account. Withdrawals from the account for medical expenditures (yet no longer coverage rates) are tax-loose.

Answer 3

If you itemize, you can include health insurance premiums as medical expenses. But medical expenses can only be deducted for the amount that's over 7.5% of your income, so it's not real likely that you'd be able to.

Answer 4

Your insurance and medical bills paid out of your pocket would have to be over 7.5% of your adjusted gross income which would go on itemized deductions depending on your filing status and other deductions.