How to Write Off Health Insurance Premiums

by Michael Keenan ; Updated July 27, 2017
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Items you will need

  • Schedule A
  • Form 1040

Unreimbursed health insurance premiums are included as a qualifying medical expense, according to the Internal Revenue Service. Qualifying medical expenses can be written off if you choose to itemize your deductions. Itemizing requires you to forego the standard deduction, so you should only claim the health insurance premiums if your total itemized deductions are worth more than the standard deduction. In order to itemize, you will need to complete Schedule A along with your Form 1040.

Step 1

Gather the records of your health insurance premiums and total the value of the unreimbursed premiums you paid during the year.

Step 2

Add health insurance premiums to any other qualified medical expenses you incurred. The medical expenses tax deduction includes all qualified deductions. Other expenses include preventative care or treatment from doctors, dentists or eye doctors.

Step 3

Report the amount of your total qualified medical expenses, including your unreimbursed health insurance premiums, on Line 1 of Schedule A.

Step 4

Report your adjusted gross income, found on Line 38 of Form 1040, on Line 2 of Schedule A. If you itemize deductions, you must file using Form 1040.

Step 5

Figure 7.5 percent of your adjusted gross income. Thus, multiply your adjusted gross income by 0.075 and write the result on Line 3 of Schedule A. For example, if your AGI is $44,000, you multiply $44,000 by 0.075 and get $3,300.

Step 6

Reduce your medical expenses by 7.5 percent of your AGI and write the result on Line 4 of Schedule A. In this example, if your total medical expenses were $6,000, you would subtract $3,300 from $6,000 to find your deduction is worth $2,700. Use the value of your medical expenses deduction to reduce your total taxable income for the year.

About the Author

Mark Kennan is a writer based in the Kansas City area, specializing in personal finance and business topics. He has been writing since 2009 and has been published by "Quicken," "TurboTax," and "The Motley Fool."

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