Public safety officer insurance exclusion

Forum|Forum|2 years ago
January 14, 2024
2 replies
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Can I use my medicare premiums off my SSA-1099 as an insurance exclusion for my Public Safety Officer??

Not A Product Question

Bsch4477

Employee

Yes, Medicare qualifies for the exclusion.

dmertz

Employee

[Edited] This exclusion applies only to distributions from a qualified retirement retirement plan subject to Section 402 of the tax code. Payments for Medicare Part B or Part D can be treated as the payments for such insurance whether or not they are paid out of pocket or paid with withholding from your Social Security payments. Medicare Part B payment can be claimed as an itemized medical deduction if you itemize deductions on Schedule A, but you must exclude from that deduction the amount used for the exclusion.

Bsch4477

Employee

I assume that the poster is asking about the $3,000 medical insurance premium exclusion from his qualified pension income as a public safety officer. He can use his Medicare premium payments for that exclusion but if he itemizes he would have to deduct that amount from what he claims on Sch A for his Medicare premium expense.