Is cost of medical insurance deductable?

The cost of medical insurance along with all other unreimbursed medical expenses are deductible as itemized deductions. You can deduct the amount of medical expenses in excess of 7.5% of your AGI. You may get a tax benefit if the total of all your itemized deductions is more than the standard deduction for your filing status.

With the large increase in standard deductions 2 years ago, many filers are finding that the standard deduction is better than their itemized deductions. Here are the standard deductions for 2019:

Single - $12,200 add $1,600 if age 65 or older
Married Filing Separately - $12,200 add $1,600 if age 65 or older
Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
Head of Household - $18,350 add $1,600 if age 65 or older