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K
km53
Employee
March 22, 2022
Question

Medicare B premiums

  • March 22, 2022
  • 1 reply
  • 0 views

OK, I am confused.  I am self-employed.

My spouse is retired.  I am covered under her health insurance, which is subsidized by former employer (OPM). She pays that premium, so I know I can't take  that expense.

But I pay my own Medicare B premium.

 

Can I expense or deduct this premium?                    

I can't seem to nail down a firm answer.

Has anyone hashed this out to their own satisfaction?

1 reply

T
ThomasM125
March 22, 2022

You can't deduct the health insurance premium as self-employed health insurance since you are covered on your spouse's employer plan. You may be able to deduct the Medicare payments as a medical expense itemized deduction, but it will only benefit you if you itemize your deductions.

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    K
    km53Author
    Employee
    March 22, 2022

    thanks. that makes sense. I pay premiums, but they go into An advantage plan that includes us both.

    Oh, well.

     

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