Health insurance premium on taxes!

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  • LittleCupcakes
    New Daycare.com Member
    • Feb 2012
    • 11

    Health insurance premium on taxes!

    I want confirm I'm correct about this! My husbands employer offers health insurance for us both. They pay a large percentage of his, but mine nothing. So for the EXACT same coverage, I buy a private plan where I pay monthly, for way less money. Because his employer offers coverage, I'm not able to deduct my premiums am I?
  • MissAnn
    Preschool Teacher
    • Jan 2011
    • 2213

    #2
    Originally posted by LittleCupcakes
    I want confirm I'm correct about this! My husbands employer offers health insurance for us both. They pay a large percentage of his, but mine nothing. So for the EXACT same coverage, I buy a private plan where I pay monthly, for way less money. Because his employer offers coverage, I'm not able to deduct my premiums am I?
    I want to know this exact same thing. Husbands boss quit giving health insurance. We got on Obamas healthcare.

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    • TomCopeland
      Business Author/Trainer
      • Jun 2010
      • 3062

      #3
      Health insurance

      Originally posted by LittleCupcakes
      I want confirm I'm correct about this! My husbands employer offers health insurance for us both. They pay a large percentage of his, but mine nothing. So for the EXACT same coverage, I buy a private plan where I pay monthly, for way less money. Because his employer offers coverage, I'm not able to deduct my premiums am I?
      Because you are eligible to be covered by an employer health plan, you cannot deduct your health insurance premiums on Form 1040, line 29. The only way you could deduct health insurance premiums, and other health expenses not covered by insurance would be to hire your husband and set up a medical reimbursement plan (HRA): http://www.tomcopelandblog.com/2013/...deduction.html
      http://www.tomcopelandblog.com

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