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April 4, 2022
Question

Can I claim premiums paid to Sask Blue Cross as a medical expense?

  • April 4, 2022
  • 1 reply
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    April 5, 2022

    Yes, you can claim premiums paid to private health insurance. As a rule, premiums that are paid to private health services plans including medical, dental, and hospitalization plans are considered to be eligible medical expenses by the Canada Revenue Agency. Furthermore, any premium, contribution, or other consideration — including sales and premium taxes — that you pay to a private health services plan for yourself, your spouse or your minor children, is an eligible medical expense.

    There are also a few things to consider as your eligibility: The plan is considered to be eligible as long as all or substantially all of the premiums paid under the plan relate to medical expenses that are themselves eligible for the Medical Expense Tax Credit. The plan must also be an insurance plan, instead of another form of contract. To be considered substantial, the CRA refers to approximately 90 percent or more.

     

    For detailed information please refer to our TurboTax link:  Deducting Premiums Paid for a Private Health Insurance Plan 

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